Major Forms of Business Units in Kenya

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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.

 

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