June 18 - Kenya's government is encouraging youth and women to take advantage of funds set aside to support small and medium scale businesses. But entrepreneurs face many hurdles.
Kenya - Even though Kenya’s government has set up funds to support small and medium scale businesses, many young entrepreneurs still face many hurdles.
What stands between a business idea and a profit making business in Kenya are some stringent, long and expensive protocols.
These include company registration, government duty stamps, tax registration, business permits and insurance.
To get a government seal for a small business takes at least 31 days and costs about $245.
“Too much red tape. It's like our government is keeping us stupid, it’s so hard to start business here, so much bribery and corruption.
"It’s so hard to break free of that because we don't have finances to do that,” said Shamit Patel, an entrepreneur.
Shamit Patel and his friends started MYROB in 2011.
They design and print funky T-shirts and sell their products in Kenya's chain stores and supply to corporates.
Patel said it's a challenge to trade with corporates as they are set in their ways, making it almost impossible to inject fashion into work clothing.
What stands between a business idea and a profit making business in Kenya are some stringent, long and expensive protocols.
These include company registration, government duty stamps, tax registration, business permits and insurance.
To get a government seal for a small business takes at least 31 days and costs about $245.
“Too much red tape. It's like our government is keeping us stupid, it’s so hard to start business here, so much bribery and corruption.
"It’s so hard to break free of that because we don't have finances to do that,” said Shamit Patel, an entrepreneur.
Shamit Patel and his friends started MYROB in 2011.
They design and print funky T-shirts and sell their products in Kenya's chain stores and supply to corporates.
Patel said it's a challenge to trade with corporates as they are set in their ways, making it almost impossible to inject fashion into work clothing.
-eNCA
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