Jan 27
Kenyans will pay a high price for post-election violence early in 2008, with the country’s tourism industry expected not to have fully recovered by 2012 as projected.
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The effects of the violence, and the global financial crisis will cost the industry — the country’s third foreign exchange earner after tea and horticulture — its mid-term targets under Vision 2030.
“We may be close but we will not reach the targets,” said Stanbic Investments (EA) Ltd chief investment officer, Anthony Mwithiga, at a press briefing at Nairobi.
Under the Vision 2030 Mid-Term Plan (2007-2012), the industry is expected to increase international visitors from 1.8 million in 2007, which was its best year ever, to 3 million in 2012.
Over the same period, it is expected to increase average spend from Sh40,000 to Sh70,000, triple tourism earning from Sh65.4 billion to Sh200 billion in 2012.
The announcement comes at a time when industry players are optimistic about its performance this year, following improvements in 2009.
“This year is going to be challenging but not like 2009.
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Jan 26
Whether it is by choice or by default, many more people are opening home-based businesses. 2010 looks to be a booming year for home-based entrepreneurs, also known as the “homepreneur.” Here is a look at why homepreneurs will likely become the largest form of small business in America.
The Trend of Homeprenuership
Going into business for yourself is an uncertain prospect. Although the rewards of working for yourself can be great, the fear of failure and the uncertainty of your next paycheck prevents many prospects from jumping into the fray.
However, due to the economy since 2007, there has been no better time to start a home-based business.
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Jan 25
Being British sometimes feels synonymous with a resigned acceptance of disappointment. A feeling football, cricket and tennis fans know all too well. Having brought these great sports to the world, we can now quietly murmur into our pints that we’re ‘not bad’ at most of them.
Even as we emerge from recession today, our recovery is way behind most other developed countries (Germany and France returned to growth last summer) and comes at a very marginal increase of 0.1 per cent. It’s almost as if we were the chubby kid at a sports day event gasping to reach the finishing line while everyone else leisurely sips orange squash.
Strange then that in a poll from SmallBusiness.co.uk 31 per cent of the 538 respondents said this Sceptered Isle was the top country for business.
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Jan 25
The East African coastline could be declared a war risk zone due to an increase in piracy, the Kenya Shippers Council (KSC) has warned.
KSC chief executive officer, Mr Gilbert Langat, said increasing piracy has led to a rise in the cost of sea freight through the Gulf of Aden, leading to the coastline attracting huge insurance premiums.
“Shipping lines are avoiding the region for fear of attacks, choosing to take a longer more costly route via Cape of Good Hope in the South,” the council says in a circular issued to members of the Kenya Association of Manufacturers (KAM).
Assessing
He added that the council, in collaboration with Fresh Produce Exporters Association of Kenya (FPEAK), is assessing the impact of piracy on the economy.
The cost increase is registered in sea freight rates, insurance, time (longer voyage), operational (in surcharges), piracy, deviation (war risk), opportunity costs and loss of markets among others.
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Jan 25
It is common for small business owners to be unaware of current legal issues that may hit them… until they get into legal trouble. The problem is that legal trouble can cost you. It can even cost you your business. As many know and Business Week recently pointed out, court actions can actually demolish small businesses; especially the ones that did not prepare in advance.
Here are some legal issues that just about any small business needs to watch out for:
Employee Lawsuits
As more and more employees are hurting from layoffs because of the economy, you can bet that there will be some who will claim employee discrimination and wrongful termination. Lawrence Z.
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