76 installments • 51%
My name is Ann. I am a graduate of Jomo Kenyatta University of Agriculture and Technology. I graduated in 2011 with a Bachelor in Purchasing and Supplies Management. From 2013, I have been working in various NGO's and while in the process, i decided to start my own business. I started off my business in the kitchen ware and clothing sector. However, I am now currently operating in the clothing and accessories niche which has over the time picked up.
I am an industrious business lady with a vision of growing my business and increasing my income. i'm passionate about business and i'm looking forward to grow towards achieving my personal business targets.
Previously, i have been dealing in kitchenware, clothing and shoes. After assessment of my business and reviewing the areas of my business that had the most impact, I have recently narrowed down my business to a women's clothing and accessories niche with a high concentration in shoes. I am currently concentrating on this niche because from experience, the demand from women for these products is high.
Re-strategizing my business has had a positive impact as i have been able to have one area of business to concentrate on and thus been able to meet my client's need. Since my business capacity is small at the moment, i am currently reinvesting the profits i get back into the business in order to grow. I am in the process of increasing the stock levels in my business and getting a loan will help boost my business as the Kenyan market is now opening up. If i get a loan, I will be able to increase the stock and thus serve more customers and this will increase the sales levels per week and this sales turnover will help me to repay a certain amount weekly towards the loan that I will be advanced with.
I will use the money to top up the money i have to increase the stock levels of shoes in my business. I am currently running out of some shoes sizes and due to the demand, there is need for me to increase my stock to cater for this demand. Going by my current weekly sales, I will be able to manage to settle the weekly loan repayment.
I was previously dealing with a range of products in my business. However, i have restrategized my business to now concentrate in the clothing and accessories niche. From my business experience, i have been able to make more sales in this niche and the demand for this line of business is continuously existent. As a way of coping with the current economic climate, I have identified how my customer's needs have changed and also monitored the spending habits of my clients. With this, I have been able to avoid dead stock and even with the covid pandemic and lock down affecting businesses, I was able to continue operating my business as i have additionally adapted to also online selling of my products as a way to compliment my shop. With the weekly sales i am making, i am confident i will be able to pay the weekly installments without fail.
Oct 15, 2020
Cost to entrepreneur
Service fee: $5.37
Credit risk payment: $5.37
Optional expediting fee: $8.06