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Major Forms of Business Units in Kenya

Major Forms of Business Units in Kenya

September 8, 2022 7:07 am

Kinlark-nafas Nafasi

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Forms of business Units found in Kenya

The level of business in the country is being done using a set of measures that are essential in determining the economic growth of the country. The following comprises of the major business units in the republic of Kenya.

Sole proprietorships

Refers to the business unit owned and run by one person. It can be either the head of a family or a person that individual operates the business by themselves. The person is responsible for the business decisions they make hence the growth of the business relies on the decision made by the person. In Kenya, sole proprietorships are many and are continually growing each and every day in life.

Partnerships

It comprises of a group of people that come together with an intention of doing business together to make more profit. Partnerships are advantaged as the decisions can be shared amongst the members hence reaching many conclusions within Avery short period of time. It is important when decision making becomes hard on one person. Partnerships are wide spread in Kenya and many more efforts are being made to ensure that the continue helping in the economic growth of the country.

Cooperatives

They include business units that involve members coming together openly and voluntary to carry out business together and make more profit or money to gathering. Kenya has many cooperative societies including the teachers housing cooperative union and various Sacco’s are continuing to gain increase in their numbers.

Limited liability companies

It includes a group of people that come together to do business that is managed by having shareholders in them. The limited liability companies are essential in ensuring that the economic sector grows at a faster rate. Kenya has several companies examples in including BIDCO,SAFARICOM AND KENYA TEA DEVELOPMENT AUTHORITY.

About the Author

Kinlark-nafas Nafasi

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Born amidst the bustling economic hub of Nairobi, Kinlark Nafasi's story is deeply rooted in the entrepreneurial spirit that defines Kenya's capital. As a young boy, Kinlark's inquisitiveness was piqued by the vibrant business activities around him, from the busy street vendors to the towering corporate offices that painted the city's skyline.

This early intrigue was the catalyst for his academic pursuits at one of Kenya's top universities, where he majored in Business Administration. While in university, Kinlark's natural flair for articulating complex business concepts and trends became evident. His articles, often peppered with astute observations and data-driven insights, caught the attention of not just his professors, but local business periodicals as well.

Upon graduation, Kinlark quickly established himself in the world of business journalism. His deep understanding of the African market dynamics, combined with a global perspective, made his writings invaluable. He covered a wide array of topics, from the challenges faced by startups in Nairobi to the macroeconomic policies shaping the East African community.

Kinlark's articles have since been published in renowned international business journals, earning him a reputation as a leading voice on African business matters. Beyond journalism, he has been instrumental in organizing business forums and conferences, fostering a dialogue between entrepreneurs, policymakers, and investors.

Today, Kinlark Nafasi continues to chronicle the evolving business landscape of Kenya and Africa as a whole. Through his writings, he endeavors to inspire the next generation of African entrepreneurs while providing critical insights to investors and business leaders worldwide.