What do you need to consider when you want to start a business?

Business registration is the main factor you should consider.

Registering your business gives your business a unique identity.

Following are some of the major requirements for registration.

-5 preferred names for your business in order of preference.
-ID numbers for the owners
-A recent coloured passport ( can be a clear,well captured selfie)
-Phone numbers
-Email address
-Postal address
-Physical Location of intended business.
-Residential location.

-Nature of business

 

After registration here are some of the things to keep in mind:

Ensure that your book keeping is very operational ie. Keeping records of all transactions of that particular business and frequently updating it.( list of assets, list of employees, list of all incomes and expenses, list of liabilities etc)
Filing and remittance of tax returns .
Filling of annual returns (for limited companies) with the Attorney General.
Filing and remittance of the statutory deductions.(NSSF, NHIF, PAYE)

At Jamii Capital we care and are very much willing to help you start up a business and walk with you in your daily operations.

Jamii Capital Limited, Compliance through consulting.