2009/11/25 Kelvin <kjayanoris@gmail.com>
Hi guys, and ladies
A few days ago, I was helping my niece to register a new business. She wanted to register a (limited liability) company. We found someone to do it for us - the person, a lawyer, charged us Kshs 20,000/-
Now, I was just thinking. If any man/woman in the street wants to start a business and needs a company, they would need to also pay this 20,000, wouldn't they? For many start up businesses that I have known, this amount is simply too much. The money can be better used elsewhere.
In the spirit of helping all of us become better, financially and otherwise, I was thinking if at all we can do anything to make it easier to register companies in Kenya.
The biggest hurdle is drawing up the Articles & Memorandum of Association, isn't it? While at school, we were taught that there are draft copies of these documents at the registrar. Is that so? Are they usable?
My idea is this: can we make draft copies of these documents that can server "any business under the sun" and make them available for free download to anyone? In my humble opinion, it would be of massive help to aspiring entrepreneurs out there.
While at it, perhaps we can also do the same for partnerships, sole proprietorships and other forms of businesses. Ama?
What do you think? I'm no lawyer so, *who wants to help?*
Kelvin www.likechapaa.com
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Kelvin, That's a really good idea. I remember when registering for my Limited liability company sometimes last year, we had a problem of raising Shs.35,000 the lawyer wanted. One of my colleagues had a soft copy of the memos and we customized it to fit to our company's structure. The lawyer didn't take 35K he wanted but 15K because we had our own Memos. We just needed him to have the documents stamped at Ardhi House and his firm. Although the company is registered already, I think this hurdle is shoving people away from registering LTD companies in Kenya. Now I'm in the process of amending the Memos and I will just pay the lawyer, I think 3K for notifying the AG's Chambers of the changes in the memos. I have the soft copy of the memos and I won't need the lawyer to do any changes for me. On the issue of making free templates for memos, it might not work well because of two reasons. One, there are people who get their daily bread from that (whether legally, illegally or by corrupt ways) and secondly, a lawyer is needed to stamp the documents, especially the part where you need a Company Secretary (who must be a lawyer). But still, we can join hands! My thoughts! -- Solomon Mburu Kamau P.O. Box 19343 - 00202 Nairobi Cell: (+254-0) 735 431041 Man is a gregarious animal and enjoys agreement as cows will graze all the same way to the side of a hill! AND It is better to die in dignity than in the ignomity of ambiguous generosity! http://dawn-in-kenya.blogspot.com http://smiley2.wordpress.com http://mburu.sikika.co.ke