Posted by admin, May 16, 2017

How to Become an Entrepreneur in Kenya

In Kenya, there are many opportunities for entrepreneurs to create jobs and make money from businesses. However, in the search for the best opportunities, Kenyan entrepreneurs can make mistakes.
Cephas Gakii, 26, the cofounder of Youngprenuers Hub has been rubbing should with KenyaÔÇÖs leading entrepreneurs like Bidco AfricaÔÇÖs Chief Executive Vimal Shah among others. Here are a few tips from Gakii on how to become an entrepreneur in Kenya.
What is the best advice you would give an enthusiastic Kenyan entrepreneur?
Avoid watching news. If you want to have a positive attitude towards life then you should avoid watching news. If you are looking for useful information, you can use the internet.
As an enthusiastic entrepreneur, you need to dissociate yourself from all the negativity out there because you will always find someone who will tell you itÔÇÖs hard out there when you finish University. You need to remain focused despite all the negativity.
How did you start your business (Youngpreneurs Hub)?
It was as a result of the problems we were facing. When we started out with my partner David Kyalo, we were fresh from the University. We knew we wanted to become entrepreneurs but we didnÔÇÖt know where to start. We put a lot of money in our first event and since we had no documentation, the guys refused to pay us. When we spoke to some of our friends, we realized that they had gone through the same thing. We learnt that many people donÔÇÖt know how to register a company and its benefits. So, a lot of people donÔÇÖt know the opportunities in Kenya. Currently, there are more than 300 billion tenders for the youth from the Government and many people donÔÇÖt know this.
Many people donÔÇÖt know that if you go to Youth Fund Offices with an LPO, you will be financed fully. An LPO is document that says you have received a tender. It is a purchase order that says a certain company has decided to work with you for the tender. You might find that the tender is worth million of shilling, but since you donÔÇÖt have that amount, you can provide the Youth Develop Fund with the LPO and they will fund you.
How did you approach business leaders?
Business leaders are tired of people asking for financial help from them. Most of the time, they wonÔÇÖt give money, but advice that will help you to succeed. Funding without mentorship is lost credit. Even if young entrepreneurs are funded, lack of mentorship often leads to failure. ItÔÇÖs actually not difficult to approach business leaders, but when you have a good idea, noble people will be willing to help you.
What differentiates you from others?
Our vision. Aside from doing events, we are planning to start a business hub where you entrepreneurs can get supportive advice about starting businesses, such as legal services, marketing space, internet and investment advice. The business hub will be operating throughout the year, with various services.
What is your advice for young Kenyan entrepreneurs?
ÔÇó Act fast, because if you donÔÇÖt, someone else will do it. Young entrepreneurs need to be time conscious
ÔÇó Produce globally competitive products
ÔÇó Consistency is very important. The biggest problem about young entrepreneurs is that they are not consistent. In the event that you have to change quality, let it be an improvement.
ÔÇó Get a mentor. If you have someone you can rely on for advice, you will be able to move faster

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