SMEs to have own business registration process

The government will soon formalize a different procedure of registering small businesses and move away from the conventional system of company registration.

Industry and Trade Cabinet Secretary Peter Munya, says the move is aimed at alleviating the challenges faced by Small, Medium-Sized Enterprises (SMEs) in terms of time and money they consume when they seek for registration of their business.

Before automation of processes, registering a company in Kenya would be described as a lengthy, costly and tedious process.

Despite the new system, the process could be challenging for those in the informal sector.

CS Munya, says a new method of registering Small, Medium-Sized Enterprises, that will be easy and fast is in the pipeline.

He says the government is keen in addressing the issue of credit access for SMEs who employ a great percentage of Kenyans especially those who graduate from tertiary institutions.

Munya spoke during the graduation of over 4,000 youth who learned technical skills in the fields of retail, hospitality and financial services.

Employers have been calling for revision of the curriculum to incorporate life and technical skills that would prepare learners for the demands of the job market.

  

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