When planning to start your agribusiness company, you’ll need to take some few things into consideration before you start off. It is important that you consider to do some research to check the viability of the business and find out the demand and supply in the market for your products.
You’ll also need to write a business plan, it doesn’t need to be a complicated one. your business plan will help you know where you’ll start your business, it will give you an outlook projection of costs that you will incur in lease of land (if any), purchasing equipments, licenses, insurances among others.
I would recommend you work on a cashflow forecast that will allow you to monitor your cash flow of your agribusiness.
Don’t go to a bank to ask for money to start your agribusiness if you do not necessarily need to. First, try and exhaust other options such as savings, family and friends support.
I will take you through the steps you will need to take to register your limited company that you can start trading.
Here are the requirements you will need to have in order to register agribusiness limited company in Kenya;
Company Name – you can perform your name search at any Huduma Center around the country or visit eRegistry website. We can also assist you to check the availability for your company name by filling the order form below.
Director details – to start a limited company, you will need to have a minimum of at least 1 director. You will also require to provide residential address for each director/shareholder.
Proof of identity documents – all director(s)/shareholder(s) are required to provide copy of ID/Passport, copy of KRA PIN certificate (Kenyan citizens only) and passport photo (coloured with clear background).
Company Details – you will need to list some of the business activities that you doing, such as chicken farming, buying and selling fruits, exporting flowers etc.
Share allocation – if you business will only have 1 director, then you can allocate 100% (1,000 shares) to yourself. However, if you have more business partners who would like to start the business with you, then you can allocate shares to each business partner, for example – Director 1 – 40% (400 shares), Director 2 – 30% (300 shares), Director 3 – 30% (300 shares). The total number of shares allocation should not exceed 1,000 unless you are looking to increase your nominal share capital for your agribusiness. Please note that if you increase your nominal share capital, then your stamp duty cost will increase.
KRA PIN Details – to register a company PIN, the company director(s) will need to provide their KRA PIN, location of where the business will be operating from, even if it is going to be stating from your home.
Government Tenders – If you are looking to supply the government with your products, you will need to pre-qualify your company with the respective procurement departments. However, you can also register your company with AGPO that will allow you to apply for 30% preserved Government Tenders that are only available for youth (Age 18-35), women or persons with disability.
Register Your Limited Company Today
Here is to your success in starting your agribusiness.
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