@KeEquityBank is the biggest lender to SMEs in East and Central Africa with 46% of its loan book consisting of funds lent to SMEs & MSMEs as of June 2022
They plan to lend to 5 million businesses by 2025
Let us look at 2 simple ways to pay yourself as a business owner
A THREAD
As a business owner, you are probably wondering why you need to pay yourself. I mean "all the money in this business belongs to me, so why do I need to learn how to especially pay myself?" @KeEquityBank@SokoAnalyst@omwambaKE
You need to learn to remove your business from being part of you, to be a separate and more sustainable entity.
See a business as living this with its own life. Cash flow is the lifeline of a business.
“Make something people want... There’s nothing more valuable than an unmet need that is just becoming fixable. If you find something broken that you can fix for a lot of people, you’ve found a gold mine.” @paulg
Every successful business creates something of value.
The world is full of opportunities to make other people’s lives better in some way, and your job as a businessperson is to identify things that people don’t have enough of, then find a way to provide it.
The value you create can take on one of several different forms, but the purpose is always the same: to make someone else’s life a little bit better
7 THINGS TO DO BEFORE INVESTING
Putting your money to work is one of the best ways to maximize your financial resources. Irrespective of what you earn, every cash you bring in is an opportunity to make more. Let us look at 7 things to do before investing your hard earned money
1⃣Enumerate your goals
Your income is supposed to help you live your desired life and there is no better way to organize your life than having your personal goals that you want to achieve such as buying a car, starting a business, having passive income etc.
Having clarity on your goals will help you save and invest effortlessly since you will be self-driven.
Lifestyle creep, also known as lifestyle inflation, is a phenomenon that occurs when, as an individual spends more resources on their standard of living, previous luxuries become seen as necessities.
Typically this occurs when someone gets a big promotion causing a boost in income. However, it can also occur when there are decreased costs of living, for example, when a mortgage is paid off
Anything that causes discretionary income to increase, can lead people to begin to spend frivolously — perhaps buying a second home or joining an exclusive sports club.
An investment in Equity Holdings is an investment in innovation. Peter Munga founded Equity Building Society in 1984 & James Mwangi took the bank to create heights that were never imagined before
1⃣ It became a commercial bank known as Equity Bank Ltd in 2004 and was listed on the Nairobi Securities Exchange in 2006. Since listing at the NSE, the bank's assets have grown by 65 times from Ksh 20bn to Ksh 1.3 trillion while the customers have grown 16 fold.
2⃣ It is one of the most successful listing stories at the @NSE_PLC and is considered a growth stock by investors @mmnjug@KIBankers