MGK Foundation

02/04/2025

When we wrote this last year, businesses were struggling, and it felt more relevant than ever. A year later, the challenges for business owners have only intensified—rising costs, delayed payments, and tighter cash flow continue to weigh heavily. So here's a recap and a check-up. How's your business holding up? 🤔

MGK Foundation's training is designed to help businesses adapt, plan ahead, and find sustainability, even in turbulent times. In this article, for instance, we talk about a rolling three-month cash flow forecast. You can use that anticipate shortages and plan ahead. Whether you’re facing a surplus or a deficit, proactive planning is the first step to sustainability. This is cash flow forecasting.

During these hard economic times, a huge challenge that most businesses are experiencing is insufficient funding to meet the day to day requirements of the business. Unless you sell on a cash basis, many businesses are experiencing delayed payments from their customers and the amounts owed by custom

25/03/2025

What did you achieve this month? Well for our second cohort of young entrepreneurs from Rotaract District 9212's Rotaract@Work program, they successfully completed their Business and Financial Planning training from the MGK Foundation and are excited to plug this knowledge into their businesses.

Four (Rachael Muthondu, Fredrick Oburu, Anthony Oyomba and Rita Ondari) got to present their businesses to us for the chance to win a Ksh. 50,000 business loan and 6 months of business coaching from our expert trainers Michael Kimani and Antoinette Absaloms that should help them take their business to the next level.

Congratulations, Fredrick, we are excited to see you win and looking forward to watching you grow. Congratulations to all of Cohort 2, and all the best on your entrepreneurship journey! 🥳

18/02/2025

Starting a Business - Part 2: Organizing Your Business.

Our second Rotaract Kenya Rotaract@Work Cohort had a really engaging second session. Check out the highlight video 🥳

In the first session, Antoinette Absaloms took us through identifying, determining and registering the business the right way. Highlight? Start in the simplest, most effective structure, legally, and grow from there.

In session 2, Michael Kimani introduced the class to tax. "This is an awareness session," he said. Once you know what to look out for, the resources are vast. "Also, don't be scared of taxes. Plan for them."

Then we split up into teams and created structures for our various businesses and shared them for feedback from the class.

We also had some wonderful sample products from our budding businesses. Cookies, brownies and cupcakes from Aisha's "Why Nots?", handmade crocheted mats and art from Rita, custom acrylic signs and branding from Rachael and custom branded apparel, notebooks and more from Fredrick's Jamasita Brands.

Can't wait to see you all in the next one 😊

03/02/2025

MGK Foundation Training is back! 🥳

We started cohort 2 of our training program with Rotaract@Work Rotaract Kenya on Saturday, and they're an exciting group with diverse business and personal experiences that were brought to the fore as we discussed the process of starting and defining a business. Take a look as they present their Business Model Canvases and ask our trainers Antoinette Absaloms and Michael Kimani a whole lot of questions. Starting and running a business is no walk in the park, but it's got to be something you enjoy as well 🥳

03/12/2024

Cohort 1 Graduates! We're excited to congratulate our first cohort in the MGK Foundation's Business and Financial Planning course and in particular, our finalists for the award of a business loan worth Ksh. 50,000 and business coaching. Faith Kaka, Scholastica Mulama, Emmanuel Muturia and Ashley K. presented their business plans and told us why they deserved the prize, and what they would do with it. Ultimately Scholastica Mulama emerged best and will begin an exciting entrepreneurship journey with the MGK Foundation.

Many thanks to our facilitators Michael Kimani of MGK Consulting and Antoinette Absaloms of Arete Business Advisory Services for their keen, thoughtful and practical instruction. Many thanks to Rotaract Kenya Rotaract District 9212's Rotaract@Work Program chaired by Meir Mwango for partnering with us, and Sheila Koks and Ng'etich Stephen for generously volunteering their time to ensure this was a success. See you early in 2025 for cohort 2 🥳🥳🥳

03/12/2024

Cohort 1 Graduates! We're excited to congratulate our first cohort in the MGK Foundation's Business and Financial Planning course and in particular, our finalists for the award of a business loan worth Ksh. 50,000 and business coaching. Faith Kaka, Scholastica Mulama, Emmanuel Muturia and Ashley K. presented their business plans and told us why they deserved the prize, and what they would do with it. Ultimately Scholastica Mulama emerged best and will begin an exciting entrepreneurship journey with the MGK Foundation.

Many thanks to our facilitators Michael Kimani of MGK Consulting and Antoinette Absaloms of Arete Business Advisory Services for their keen, thoughtful and practical instruction. Many thanks to Rotaract Kenya Rotaract District 9212's Rotaract@Work Program chaired by Meir Mwango for partnering with us, and Sheila Koks and Ng'etich Stephen for generously volunteering their time to ensure this was a success. See you early in 2025 for cohort 2 🥳

19/11/2024

We had a wonderful second-to-last session with cohort one of our entrepreneurship training program with Rotaract@Work. So we figured we could brighten your feed with these smiles :) Our young entrepreneurs, after almost 2 months of training, are just about ready to graduate. By the time they do, they'll have clear business plans, insights on how to make them work and a network within which to reach out and advise each other. That's what the MGK Foundation is - Passionate about entrepreneurship. Congratulations to cohort 1 and many thanks to our facilitators Michael Kimani, founder of MGK Consulting and Antoinette Absaloms, founder of Arete Business Advisory Services!

05/11/2024

The second session with cohort 2 on Organizing Your Business was truly enlightening. Our young entrepreneurs gained valuable insights that are crucial for their future endeavours. Here are some of their takeaways:

"Before registering any business with the government, it is important to know the type of business and the tax obligations required"

"Taxes and laws might not be relevant now but will certainly affect me in the future. Also the organizational model effectively determines how a company is run and interact within and externally."

"The organization model that I'll get to implement in my business"

"Understanding the structure of the business I'm setting up."

Special thanks to Antoinette Absaloms, Michael Kimani, Sheila Koks, and MGK Consulting - Audit and Accounting Firm in Kenya, as well as Rotaract District 9212 Rotaract Kenya for their valuable contributions.

Excitedly anticipating the upcoming sessions! 🥳

25/10/2024

On September 20th we had an engaging discussion with the Rotaract@Work team on starting and running a business in Kenya, focusing on starting correctly, financing and budgeting for your business, tax and legal compliance.

Our expert panel included Roy Wachira, founder of Cafe Kaya, Michael Kimani founder of the MGK Foundation, JEREMIAH MVERA tax services manager at MGK Consulting - Audit and Accounting Firm in Kenya Antoinette Absaloms founder of Arete Business Advisory Services. Yes, they do know what they're talking about.

All topics of discussion were based on questions asked by the audience as they registered, and it was quite clear what young business owners are concerned with and curious about. Some highlights are:

1. How do you start right? How do you get over the fear of starting?
2. Just how tough is it out here for an entrepreneur?
3. What are all these taxes? And do I REALLY need to pay them? (Ahem, yes, you do, kinda...)

And lots more questions from the audience that I'm sure you can relate to. Take a listen, and see you at the next one.

Shoutout to all the Rotaractors and entrepreneurs. Awesome seeing you there 🥳🥳🥳

On September 20th we had an engaging discussion on starting and running a business in Kenya, focusing on starting correctly, financing and budgeting for your...

22/10/2024

Cohort 1 begins!

On Saturday last week, we had our first Entrepreneurship and Business Financial Management session with participants selected from Rotaract@Work. What a great way to spend a chilly morning!

Our vibrant business-owners were taken through the process of starting a business, shown how to generate and test their ideas, then put them on paper and see if they make business sense. Does it have appeal? What will it take to make it happen? Will it then make money? The discussions got quite heated.

BTW, do you know what a BMC is? Well you should reach out to our trainees and find out.

Many thanks to our founder, Michael Kimani and Antoinette Absaloms for facilitating the session.

Next stop? Well you'll have to stay tuned, or register for cohort 2...

17/09/2024

Looking to start or grow your business?

Join us on Friday 🗓 20th September 2024 at the 🏠 Clarion Hotel from ⌚ 6:30 PM - 8:30 PM for expert insights on launching and scaling your venture!

Featuring a Money Maestro, a Budget Boss, a Tax Ninja, and a Startup Sensei—all ready to help you succeed!

Entry: FREE
👉 Register now: mgkfoundation.or.ke/register

05/09/2024

Over 75% of businesses in Kenya fail within 5 years, yet you’ve likely seen friends or colleagues start businesses—some small, some big, some as side-hustles. Some don't last a month, while others thrive, leaving you thinking, "That could have been me."

What’s your story? The MGK Foundation and Rotaract District 9212 are having a conversation on starting and running a business in Kenya. Join us on Friday, September 20th for a discussion with a successful entrepreneur, business finance expert, legal/compliance expert, and tax expert. We’ll share experiences, answer questions on entrepreneurship, and offer training.

Register here: http://mgkfoundation.or.ke/register