Proper information on how to run businesses can avert the death of over 75 percent of Kenyan SMEs which do not survive barely five years after their inception. According to the Kenya National Bureau of Statistics (KNBS) figures, only...

Proper information on how to run businesses can avert the death of over 75 percent of Kenyan SMEs which do not survive barely five years after their inception. According to the Kenya National Bureau of Statistics (KNBS) figures, only 10 percent of SMEs are able to stay afloat after ten years of their start something which has been majorly attributed to lack of the know-how in the running of the enterprises. “Most of these SMEs are started with unclear focus due to lack of training or mentorship on various issues such as how to identify markets and management of finances among others leading them to immature closure,” said Victor Otieno, managing director of Viffa Consult, a Kenyan based management consultancy with of developing SMEs in Africa. Wrong reasons for starting a business A good number of Kenyan entrepreneurs have wrong reasons or misplaced reasons as to why they want to […]

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