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Professor Bwisa

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Dec07

PRICE CONTROLS ARE HEALTHY FOR KENYA (1406 words)

The recent TV comment by the central bank of Kenya governor that price controls will remove goods from shelves has provoked me to make a contribution. Most economists preach against price controls and wish to convince us that the laws of demand and supply otherwise called the market forces alias the invisible hand will, in the long run, guide and equilibrate prices in the economy. The argument is that resources are allocated most efficiently when producers are able to respond to consumer demand without intervention from €˜distortions€™ such as governments and trade unions, and that profits and competition between firms and individuals provide sufficient incentives to produce efficiently. Suppose that the supply and demand for maize flour are balanced at the current price, and that the government then fixes a lower maximum price. The supply of flour will decrease, but the demand for it will increase. The result will be excess demand and empty shelves.  This purely theoretical reasoning is based on the neoclassical economics theory of the firm and it needs an entrepreneurship based commentary. Yes entrepreneurship and economics may be twins but they are not identical twins.
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Oct20

BUSINESS PLANS: WHY DO WE NEED THEM AND WHAT CAN MUKMIK DO FOR YOU?

If you walked into a bus company office and asked for a bus ticket what would you be probably asked by the casher? €¦€¦ No you got it wrong €“ you will not be asked to hand in an amount of money straight away. The casher will ask you where you want to travel to. It is your destination that will inform the casher about the amount of money to ask you to produce.

Somebody once said, €œIf you do not know where you are going any road will lead you there€. Indeed if you do not know where you want to go you will go nowhere. Knowing where you want to go requires that you think about the journey in advance and decide where you want to go, why you want to go there and of course how you want to reach that destination.  This is called planning the journey.

Starting a business and successfully running it is a journey. It requires business planning. Unfortunately some people start and run businesses without even the simplest of a plan. It is the 34th President of the USA Dwight D. Eisenhower who said: €œIn planning for battle I have always found that plans are useless, but planning is indispensable.€ 

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Jun04

13 FREE low capital small business ideas

Many people we have interviewed say that they are not in business because they do not have enough capital. Such people would have liked to start one type of business say a mini bus to shuttle passengers but their capital may not be enough.

This reminds of what the renowned author of €œSmall is Beautiful€  Ernst Friedrich "Fritz" Schumacher commonly known as E. F. Schumacher  €œIf you want to go places, start from where you are. If you are poor start with something cheap. If you are uneducated start with something relatively simple. If you live in a poor environment and poverty makes markets small start with something small .If you are unemployed start using your own labour power because any productive use of it is better than letting lie idle€ .

These wise words teach us that we must learn to recognize the boundaries of our possibilities. A project that does not fit our resources will be an economic failure. Find here below some potentially explosive projects whose inputs are readily available locally.

 

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Nov06

Do you want to start a business after RETIREMENT? MUKMIK consultants can HELP YOU

For many people what to do after retiring is a dilemma. I know one person who received his handsome retirement benefits before he knew what he would do with it. He kept trying out one business after another. The end result was that none of the businesses worked and he is today literary a beggar. Another one I know thought he always wanted to start €œmatatu€ business after retiring. On retirement her benefits were not adequate to start the €œmatatu€ business. Having thought of no other alternative she was convinced by a friend to invest her monies into a pyramid scheme. Alas! The scheme collapsed.On the other hand I know a couple who retired 20 years ago and are now running a very successful Day Care Centre.
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THOUGHT

Entrepreneurship is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities. Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail.

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Author I Professor Bwisa, use my extensive research, experience and networks in small enterprise development and entrepreneurship to bring you practical informationand ideas on small business development.