PLAN>> LAUNCH>> GROW YOUR BUSINESS

​We know starting a business is a multi-step process that can feel overwhelming when you're on your own, but we'll make it easy to stay organized and on track while you start your business and achieve success. Whether you're refining your business idea, filing for permits and licenses, drafting your business plan, or looking for funding, we will give you the tools you need to do it right and get it done.

 

Choosing a Business Entity

The pros and cons of different business formations are worth understanding. Generally the choices are sole proprietorship, simple partnership, Limited liability partnership (LLP), Limited Liability Company.

 

The simplest form is the sole proprietorship

The simplest form is the sole proprietorship. Simply put, your business is a sole proprietorship if you don’t create a separate legal entity for it.

Tax treatment is quite simple; your profit and loss goes straight through to your personal taxes as you use the same PIN as your Business name.

§  Find out the requirements here for Business Name

Cost Ksh 5,000

Timeline: 4 Days

 

Partnerships

Partnership are registered as business names but with more than one person

•  Easy to register due to minimal requirements needed
• You can use it to apply for Government Tenders
• Decisions are made by the partnership owners. Might help with accountability
• Find out the requirements here for Simple  Partnership

A partnership is treated as separate entity for Tax purposes and Pay Income Tax Partnership.
Cost Ksh 5,000

Timeline: 4 Days

 

Limited Liability

Incorporation means turning your sole proprietorship or general partnership into a company formally recognized. When a company incorporates, it becomes its own legal business structure set apart from the individuals who founded the business. Through incorporation, the company's owner or owners create a separate legal entity to transact business. This new business entity corporation or limited liability company (LLC) transforms the way the business is seen through the eyes of the law and often has more credibility with potential customers, vendors and employees

A LLC is separate legal entity and is treated as such for tax purposes and is required to file and Pay Taxes depending on the obligations registered like Income Tax Company at 30%, VAT at 16%, or 12%.

Standard Cost Ksh 20,000

Timeline: 10 Working Days

Find out the requirements Here

 

Business Plan

If you will be seeking outside financing, a business plan is a necessity. But, even if you are going to finance the venture yourself, a business plan will help you figure out how much money you will need in order to get started; what needs to get done when, and where you are headed. It helps you seal any gaps in the idea before you get started.

Find out more here Business Plans

 

 

MAINGI

BIZNA TEAM LEADER

Mobile:+254 772 866 854

Email:hello@biznacapital.com