In business, you have to continue anticipating where the right places are, and when the ideal time to be there will be and successful strategies leave nothing to chance. Photo/Fotosearch

In business, you have to continue anticipating where the right places are, and when the ideal time to be there will be and successful strategies leave nothing to chance. Photo/Fotosearch

‘‘Fortuna est momentum quo occasionem convenit talentum’’ (Luck is what happens when preparation meets opportunity).

The quote by Seneca means that when you prepare well, you are likely to succeed.

This quote came to my mind last week when I became aware that the government has revamped the national procurement law. The move is aimed at supporting local businesses by giving them preferential access to public tenders.

The Public Procurement and Disposal (Amendment) Regulations, 2013 was published in the Kenya Gazette of June 18. National Treasury secretary Henry Rotich announced a raft of changes in the public procurement regulations.

These are meant to make it easier for youth, women and people with disabilities to participate in the government tenders.

For any young person in business, I would say this is the perfect time to launch out. But you have to be prepared. In business you have to continue to anticipate where the right places are, and when the ideal time to be there will be.

Along with that of course, you have to be prepared with the right product and the right message to deliver once you’re there.

Being a business owner, I’ve had a lot of conversations with other entrepreneurs that share their stories about how they built their business, the struggles they endured and the choice moments of success that made it all worthwhile.

The amount of hard work, commitment and passion that’s required is always far greater than anyone ever imagined or expected.

Interestingly, however, almost everyone that has built a business will tell you that, in addition to the intense amount of hard work, there’s a certain amount of luck involved with business success.

An opportunity like this one is one of them.

According to the legal notice, a business shall enjoy the preferential treatment if it is registered with the relevant government bodies and has at least 70 per cent membership of youth, women or persons with disabilities.

The leadership of such an organisation must be 100 per cent youth, women and persons with disability respectively.

Urbanisation is taking place at a very fast pace, and Kenya’s demographic picture is rapidly changing. With 75 per cent of the population under 30 years, her demographics is one of the youngest in the world – and this is a dividend.

It creates a wealth of opportunities for any business that is targeting this market.

Another key area of growth is technological change. Mobile-phone penetration has indicated that there is a large untapped consumer market in this country. The number of mobile subscribers has exceeded the 25 million mark, and there is still further room for growth.

Kenya’s ongoing connection to the global fibre-optic network continues. Along with the rise in mobile phone usage, more fibre-optic cables have been laid.

The East African countries, have come on board. This will not only help to deepen the Internet and telecoms markets and allow businesses to operate more efficiently and cost- effectively in the future, but will also present significant opportunities for the business sector.

These dividends—urbanisation, expansion of trade and technological change—all indicate that growth is on a permanent trajectory. Need I say more?

Most of the top Fortune 500 companies are already operating in Africa, have been operating in Africa for the last decade, and will continue to have their presence in the coming decade.

The legislation stipulates that all foreign firms participating in international tenders locally will now be required to source at least 40 per cent of their supplies from citizen contractors prior to submitting a tender.

Successful strategies leave nothing to chance. Why should you?