Set up a Sole Proprietorship Today;
Starting a business as a sole proprietor is cheaper and easier to set up compared to limited company. This legal structure for a business gives more control to the entrepreneur over decision making in all different parts of the business. It can be upgraded at any-time to Limited company.
Sole proprietorship businesses are not entirely required to file for taxes as a business to Kenya Revenue Authority, rather they can do this through Income Tax Return every June 30th. If Sole proprietor charges VAT on his or her products/services, then they are required by law to make monthly returns before 20th of every month.
Why Start A Sole Proprietor Business?
In Kenya, every entrepreneur is required by the law of the country to register the business name which will be used to carry out business activities.
Who Can Start A Sole Proprietor Business?
Sole proprietor business usually start with a single person. In this case, any Kenyan or Foreigner can start a sole proprietorship.
How You Can Start A Sole Proprietor Business?
First thing when starting a sole proprietor business. You will need to perform a business name search
Once you have performed business availability check at the Company registry, you will be given BN/2 form to fill in your personal & business details;
- How To Submit BN/2 Form for Sole Proprietor
- How To Pick Your Business Registration Certificate
Upgrading Your Business
Thinking of upgrading your business, well here are some articles that can help you.
- How To Upgrade Your Sole Proprietor To Partnership
- How To Upgrade Your Sole Proprietor To Limited Company
Resources For Sole Proprietor:
What you’ll need to register a Sole Proprietor;
Here is to your success in starting your business!