GeeNeMPubs

Tuesday, August 21, 2012

In Summary

The traders complained that many of the Chinese dealers were operating out of backpacks, evading taxes and undercutting the prices charged by local businessmen.
Once you start up a business, you plunge into an ocean populated by a few smaller fish, which compete with you for food, and lots of bigger ones eager to eat you alive.

How you can defend yourself from the blows that will inevitably come your way:

Come Together: The only way for us to deal with the huge multinationals is to come together. Businesses that come together share resources, reduce costs and bid for (big) contracts.
Know your customer: Knowing and understanding targeted customers is the overarching rule of exceptional companies. Award-winning business builders know their customers as well as they know their own families, perhaps even more so.

In Summary

Formal sector workers contribution to NSSF is currently split equally between the employer and employee for a total of Sh400.
The Bill proposes to divide member contribution into two tiers.
The first tier of contributions will see all formal sector workers contribute a portion of their salaries equivalent to six per cent of those earning the prevailing minimum wage with an equal share of contribution from their employers.
The second tier of contributions will be exclusive to those earning over and above the minimum wage, who will contribute a specified portion of their gross salaries with an equal share from employers.
However, the Bill proposes that employers with established private pension schemes be allowed to opt their workers out of the second tier contributions sparing them the burden of double saving for retirement.
To minimise the pain of parting with a bigger portion of their pay, NSSF is proposing that workers gradually increase their contributions over four years period should Parliament pass the law.

In Summary

There are Chinese cultivating small-scale farms in villages as far away from Nairobi as Kisumu, Kisii and Kuria and others engaging in fishing in South Nyanza.
Last month, Chinese men were seen in the streets of Nyeri selling Galaxy SII and Nokia N8 phones.
On Thursday, business people in Nairobi took to the streets to protest the presence of Chinese retail traders in the city.
The Sunday Nation has established that the recent increase in the number of the Chinese in Kenya is a result of what the Chinese Government terms as the “New Eight”.