Entrepreneur

About Me

i am a kenyan citizen aged 22, single, holding a diploma certificate in information technology and currently working as a computer technician at Mugaa secondary school. i also operate a retail shop..my business is located at the heart of munanda trading centre. lastly electricity is in our towb. i setting aside kshs 30000 which i will use to start computer serviced i.e printer, copier n a scanner. i promise to update the progress of my new business

My Business

I partnered with my mother running a retail shop. The shop mainly deals with selling of customers goods such as food stuff, cloths and utensils. The business was started by my mother five years ago. I came to partner with her on March 2009 after completing college. At that time the capital for the business was kshs 130000. I injected kshs 10000 as my contribution to the business. Since then I have been contributing 2000 every month to the business, currently my contribution to the business is kshs 46000. My mother does the day to day affair, however I always relieve her after work and during weekends. I also do keep the books of account for the business. Currently the business is making a profit of about 15,000 per month. This is the net profit after paying kshs 4000 to my mother and kshs 800 to me every month. The profit is usually invested back to the business unless there is a family matters that requires funding. in the business we face a number of challenges such as counterfeit goods in the market which are very hard to differentiate from the genuine, hence go for the same price,but of low quality resulting to complains from our customers,another challenge is change in fashion i.e clothes go out of fashion while still in the shelves, also the market is very competitive.

the main cash crop in this area is maize and its ready for harvest, the yields are expected to be high, with the ready markets farmers are going to sell their produce to cater for their needs. i intend to stock our business with clothes and food stuffs since due to the harvest ceremonies such as wedding ceremonies, circumcision ceremonies, christian crusade are going to increase in number. so i intend to supply them with clothes, drinks suchs as sodas, mineral water and other food stuffs.

it also only one month to december, this is the best month in the year, the month is busy with people preparing for ceremonies during holidays such as Jamhuri day (in kenya), Christmas, boxing day and new year. so i intend to stock our business with all kinds of wears to quench their thirst during this ceremonies. this will approximately cost me 1) kshs 15000 for clothes and kshs 5000 for drinks( eg sodas, mineral water, yogurt), a total of ksh 20000. this will enable me to make a significant profit.

- with the high population in this area and several schools in this area, i intend to start offering computer services , i am planning to buy a desktop computer worthy kshs 10000, a HP 3 in one printer (with printer, copier and scanner) worthy kshs 5000 and ten reams of printing papers (300x10) worthy 3000, hence this project will cost approximately kshs 20000. i would kindly request zidisha kenya to loan me kshs 30000 and top up the kshs 15000 at hand. i will use this money to meet my customers needs as i have described and also prosper in life, i will pay this amount at an interest rate of 8% in twelve installments.(months)

Loan Proposal

I registered with zidisha last year (2010) in November and applied for a loan of Kshs 30000 which I received on 29th November 2010 at an interest rate of 8% , grace period of 1 month and repayment period of 12 months. The fully was to be fully paid by November 2011 but my business picked greatly and I managed to repay the loan in 8 months, thanks to God.
Just a flash back of my business (as described earlier under business description). It is a partnership business, a retail shop dealing with consumable and non-consumable goods (boutique). In my first loan application I was targeting to supply drinks and food stuffs to my customers on the numerous ceremonies that occur here in Kenya during the month of December. I also targeted quenching my customers thirst with the most modern cloth fashions in our boutique. I happily and fully managed to achieve my goal leaving a smile on their face.
Just to mention a few achievements: I have managed to pay my loan fully and early enough to allow me qualify to apply a second loan, managed to buy my own plot 50m x 100m worthy kshs 30000, and attracted more customers with in our business.
With this few remarks I am requesting my lenders to help me get a second loan, to fully expand my business. From my salary I managed to save a good amount and started a food store, this mainly deals with buying of foods stuffs from farmers, eg eggs, milk, beans and peas and selling of fresh fruits and vegetables. I do resell milk and eggs in our shop and transport maize and beans to Nakuru town where I get ready markets. Currently a kg of beans goes for ksh 45, and that of maize ksh 40. On coming from nakuru, I buy fresh fruits and vegetables , fish (in nakuru market) to sell in my store. With this in mind am requesting a loan of kshs 45000 to boost my business. I can see light at the end of the tunnel with zidisha hand in hand. More about my business and how we run it, visit BUSINESS DESCRIPTION. Yours paul musembi musyoka.

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