Starting a business is always a huge step. Learning how to maintain the business saves one a lot. Today we are going to talk about how to register online business in Kenya.
Kenya being a productive country one needs to be resourceful. But before starting a business one also needs to be careful.
Online businesses are booming. Each day new ideas are being born, registered and they begin transactions.
Besides, online businesses are making good money with flexible schedules. Besides, one can work from any place provided there is good internet.
One however needs to register their business. Registration makes sure the business is recognizable by law.
Why register an online business?
- Creates credibility- since it is recognized by law one feels secure when transacting and interacting with the business.
- Protect the identity- once the business is registered one has rights and this prevents others from claiming your business.
- To pay taxes- the government requires each and every business to pay taxes. Taxes are important for they help grow the economy.
- Attracts opportunities- may it be funding or others all parties check if the business is registered first before transacting.
- Protects personal reliability- once it is registered it becomes an entity on its own. Besides your assets can’t be seized to pay for the business debts.
- Increases focus- one feels proud and committed to the business they have registered. Besides, it makes it real.
Is the online business profitable?
Yes, with the right planning and budgeting one can harvest megabucks. However, the business needs to be registered to transact.
Well, the business is easy to manage; all operations are online and don’t require a physical office or location for transactions.
Well, flexibility is what makes them unique. Also, the transaction methods that one isn’t limited to one mode of payment.
Are online businesses legal?
Yes, they are recognized by law. However one ought to register their business to increase credibility.
Also, different states have different laws governing online business. Make sure to do thorough research before venturing into this business.
How to start an online business
Starting a business has become a common norm. However, one needs to be certain and prepared to solve problems.
Any business comes with risks. One needs a way to work with minimal risks and maximum profits and reduced cost.
Here is how to start a business:
- Generate a business name- this is the name to market your business. One should have a short, memorable, and catchy name.
- Find funding- these are the resources to use in the business. They are also used to register and pay for other business needs.
- Register the business- this means establishing the legalities of the business. Making it recognizable.
- Find the right team- one shouldn’t be quick to hire. Evaluate each member before assigning them a role.
There are many things to consider before starting a business. Here is a good read for you to do before starting a business.
How to register online business in Kenya
This is an online procedure that is simple, fast, and reliable. Besides, one saves on cost and time as compared to the traditional way.
Here is the registration process:
#1. Log in into the eCitizen portal
The official platform for government services. Enter your credentials and proceed to your account.
If you have no account it is easy to create by clicking create an account. Follow the instructions and verify your account.
Once done, log in and be able to access different services offered and government agencies you can interact with on display.
#2. Click on Business Registration Service
This takes you to a page that will prompt you to enter your business name. Simply enter your preferred name and details.
It charges a fee of Kshs. 150 for every name search. Choose your payment method either M-Pesa, Cards, or eCitizen agent.
The search results are available between 1-2 business days. If the results are approved one can move on to registration.
One ought to have the necessary resources to register. Also in registration one can register the business with one person both as a shareholder and director.
To register one needs:
- A computer
- Stable Internet
- Money in the M-Pesa.
- A good business name.
- A completed registration form CR1
- Statement of capital.
- Memorandum and article of association.
- Physical residential address of directors.
- Company registration fee – Ksh 10,650
The certificate is available for download a week after the submission of all required details.
Registering a Partnership or Sole Proprietorship
- Go to the Business registration tab and click on the partnership or sole proprietorship tab.
- It redirects you to an empty BN2 form which requires filling with the relevant details.
- Upload ID card/passport, KRA PIN certificate, and recent colored passport photographs of sole proprietor or partners.
- Partnership and Sole proprietorship registration fee of Ksh 1,000.
The certificate is available for download a week after the submission of all required details and verification.
Well, now you have insights on how to register online business in Kenya. So what next? The next thing to do is to establish a web presence.
Simple; create a website and a blog. Nowadays it is easy to create a website. There are free site builders like OLITT.
OLITT is a simple drag and drop site builder. It is easy to use and for many integrations available to support a variety of tools.
Well, also you need hosting and domain plans. These are responsible to keep your site up and looking professional.
The domain is what people will use to find your site. At Truehost one can get a domain and hosting plans as per their budget.
Truehost also provides a search bar for domains, it’s easy to know if the name is available or not. It is easy and reliable.
It is also budget-friendly since one gets to choose what extension works for them. Also, other services are as per what clients needs.
Make that business stand out by creating and going live instantly with OLITT. Also, get the best and cheap domains from Truehost to boost the business.
Kenya has a good market platform for all businesses also starting a business has become easy, fast, and cost-effective.
The online platform also has helped solve all these processes. Also, it has created a safer way to transact and pay for business operations.