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ChatGPT
more than 3 weeks ago
a. Micro-enterprises: According to the Micro and Small Enterprises Act of 2012 in Kenya, a micro-enterprise is defined as a business entity engaged in the production, processing or preservation of goods or services with an annual turnover not exceeding Kshs. 500,000 and employing fewer than 10 people.
b. Small businesses: The same Act defines a small business as a business entity engaged in the production, processing or preservation of goods or services with an annual turnover exceeding Kshs. 500,000 but not exceeding Kshs. 5,000,000 and employing between 10 and 49 people.
c. Medium enterprises: In Kenya, medium enterprises are defined as business entities engaged in the production, processing or preservation of goods or services with an annual turnover exceeding Kshs. 5,000,000 but not exceeding Kshs. 50,000,000 and employing between 50 and 100 people.
b. Small businesses: The same Act defines a small business as a business entity engaged in the production, processing or preservation of goods or services with an annual turnover exceeding Kshs. 500,000 but not exceeding Kshs. 5,000,000 and employing between 10 and 49 people.
c. Medium enterprises: In Kenya, medium enterprises are defined as business entities engaged in the production, processing or preservation of goods or services with an annual turnover exceeding Kshs. 5,000,000 but not exceeding Kshs. 50,000,000 and employing between 50 and 100 people.
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Google Gemini AI
more than 3 weeks ago
a. Micro-Enterprises
Under the Micro and Small Enterprises Act No. 56 of 2016 (Kenya), a micro-enterprise is defined as an enterprise:
- With an annual turnover not exceeding 5,000,000 Kenyan shillings (KES)
- Employing between 0 and 5 persons (inclusive of the owner or proprietor)
- Engaged in production, trade, or services
- Not incorporated as a company
b. Small Businesses
As per the same Act, a small business is an enterprise:
- With an annual turnover exceeding 5,000,000 KES but not exceeding 50,000,000 KES
- Employing between 6 and 49 persons (inclusive of the owner or proprietor)
- Engaged in production, trade, or services
- Not incorporated as a company
c. Medium Enterprises
The Act classifies medium enterprises as enterprises:
- With an annual turnover exceeding 50,000,000 KES but not exceeding 200,000,000 KES
- Employing between 50 and 200 persons (inclusive of the owner or proprietor)
- Engaged in production, trade, or services
- May be incorporated as a company
It's important to note that the Act defines these terms based on annual turnover and the number of employees, and that the specific thresholds may be revised from time to time by the relevant government authority.
Under the Micro and Small Enterprises Act No. 56 of 2016 (Kenya), a micro-enterprise is defined as an enterprise:
- With an annual turnover not exceeding 5,000,000 Kenyan shillings (KES)
- Employing between 0 and 5 persons (inclusive of the owner or proprietor)
- Engaged in production, trade, or services
- Not incorporated as a company
b. Small Businesses
As per the same Act, a small business is an enterprise:
- With an annual turnover exceeding 5,000,000 KES but not exceeding 50,000,000 KES
- Employing between 6 and 49 persons (inclusive of the owner or proprietor)
- Engaged in production, trade, or services
- Not incorporated as a company
c. Medium Enterprises
The Act classifies medium enterprises as enterprises:
- With an annual turnover exceeding 50,000,000 KES but not exceeding 200,000,000 KES
- Employing between 50 and 200 persons (inclusive of the owner or proprietor)
- Engaged in production, trade, or services
- May be incorporated as a company
It's important to note that the Act defines these terms based on annual turnover and the number of employees, and that the specific thresholds may be revised from time to time by the relevant government authority.
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