KUNDA Business Solutions

K***A Business Solutions updated their phone number.

Nowadays most of businesses are facing crisis in Tanzania. This is right time you should visit K***a Business Solutions to get the solutions for the problems of your business. We are the doctors of tough times in the business.

We will equip you with new ways of promoting your business, increasing sales, cutting of costs of operation, handling of tax matter etc. Welcome and /or call us +255 719 044 130/+255 754 043 200

IN A COURSE OF DOING BUSINESS, MOST COMPANIES ARE REQUIRED TO APPLY FOR TENDERS BUT MOST OF COMPANIES FAIL TO MEET TO REQUIREMENTS OF TENDERS/BID

PREPARATION OF TENDERS NEEDS QUALIFIED EXPERTS WITH PROVEN EXPERIENCE

K***A BUSINESS SOLUTIONS IS ONE THE COMPANIES WITH EXPERTS IN PREPARATION OF TENDER/BID DOCUMENTS

THE ADVANTAGE OF WORKING WITH US ARE:
1. TIME - WE DO THINGS ON TIME, WE KNOW THE PRESSURES WHICH ACCOMPANY SUBMISSION OF TENDERS ON DEADLINE

2. PRICE- WE HAVE AFFORDABLE PRICES

WELCOME AND CONTACT US:

MOB: 0719 044 130
0754 043 200

COMPANY REGISTRATION PROCEDURES

Introduction:
There are some common forms which you can register your business in Tanzania. It can be either:
(a) Sole proprietor- This is registered as business name. It is easy to operate but it has limited opportunities. It has also a risk to operate as sole proprietorship because there is no separation of business from the owner(s).

(b) Joint venture/Partnership- More than one individual or companies doing the business together. Not common nowadays except in business operations where the two companies can join efforts in accomplishing the certain project.

(c) Limited Company- A Limited Liability Company, quite simply is a company whose liability is limited. That’s the short version. The longer version is that a limited company is a type of company which when set-up allows an entrepreneur to keep their own assets and finances separate from the business itself. This means that people who have invested in the business (the shareholders) are only responsible for any company debts up-to the amount that they have invested and no more. It is therefore a good way for a business to get investment without risk to a personal wealth. Essentially a Limited Company is seen as an entity in its own right, which can be subject to legal action. As a separate body, a limited company can even be the director of another company

In Tanzania most of businesses are registered in form of LIMITED COMPANY

Advantages of Limited Company

(a) LOAN- It is easy to get loan from the financial institutions when you operate your business as limited company. Most of banks do give their loans to the limited companies. Good enough, the loan you will get, will not risk your personal wealth.

(b) TENDERS- The tenders are mostly given to the limited company.

(c) INVESTORS- It is easy to get the investors to joining running and financing your business.

(d) PERFORMING DIFFERENT BUSINESSES- With limited company, you can run different types of businesses with just one company. You can invest in salon business, fashion, stationery, staff uniforms, mining, agriculture, construction etc. One company can manage all these businesses.

(e) Limited Liability – The obvious advantage of a Limited Liability Company is the financial security that comes with business.

(f) Separate Entity – Due to its very nature, a limited company is deemed to be a separate legal entity from its owners. This has several advantages, including the fact that the company will exist beyond the life of its members. If they retire or die, the company will continue to exist and operate

(g) Taxation and Tax Advantages – Limited Companies are only taxed on their profits (usually at a rate of 30%) and as such are not subject to the higher (personal) tax rates placed on sole traders or partnerships.

REQUIREMENTS FOR COMPANY REGISTRATION (Limited Company)

In registration of limited company, the following are the requirements:

1. At least 2 Directors- (You can be you and another person).

2. Preparation of Memorandum and Articles of Association - (This is like Constitution of the Company) - All possible activities you may do will be mentioned in document. They need six (6) original copies of memorandum documents. They will retain just one copy and the rest will be for you because TRA will require one original copy of memorandum while applying for the TIN of the Company and most banks also require original document of memorandum while opening the company’s bank account

3. Physical Location of the company – You should indicate the location where your company is going to situated (eg Kawe Street, Plot No. 20/10 Kinondoni District in Dar es Salaam City).

4. Advocate Stamp/Seal – All six documents of memorandum and registration forms must be stamped/ sealed by the advocate.

REGISTRATION PROCEDURES
1. Name Search– Name search should be done before proceeding with other steps. This is to confirm that the company name has not yet been registered by someone else. You have to choose at least three different names so as to find the one which is acceptable.

2. Preparation of Memorandum and Articles of Association.

3. Filling of Directors' Detail Forms

4. Submission of Documents to BRELA (Business Registration and Licensing Authority)

5. It can take 4-7 working days to get your certificate

For more information, please feel free to contact K***a Business Solutions

ABOUT THE BUSINESS PLAN
A business plan is a written document which provides detailed description about your business either for the sake of start up or expansion. In other words a business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them.

Uses of Business Plan
The Business Plan is one of the most useful documents for the entrepreneur in this world of the business. It can be used for the following purposes:

(1) FUNDRAISING – Fundraising is the primary purpose for many business plans, since they are related to the inherent probable success/failure of the company risk. The business plan can be used to get funds from the following sources:

o Loans – The business plan can be used to get loan from the banks or financial institutions

o Angel investors – The business plan can attract the investors to invest in your business

o Grants – When you have sound business plan, it is easy to get funds from various organizations which have objectives of supporting the entrepreneurship development

o Road map – The business plan reduces the risks of failure in the business at it works

(2) INTERNAL USE
a. Management by objectives (MBO) is a process of agreeing upon objectives (as can be detailed within business plans) within an organization so that management and employees agree to the objectives and understand what they are in the organization.

b. Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Business plans can help decision makers see how specific projects relate to the organization's strategic plan.

c. Total quality management (TQM) is a business management strategy aimed at embedding awareness of quality in all organizational processes.