How to create a company that will last for centuries

Dr Absil says cutting costs, an easy to resort to option or firms whenever they have seen sign of trouble, was not necessarily the best route for a company to succeed. [File, Standard]

A recent survey by the Kenya Bureau of Statistics (KNBS) indicated that over a span of five years, more than two million small and medium enterprises (SMEs) closed shop.

Between 2011 and 2016, more than 2.2 million SMEs had shut down, according to KNBS, putting the average rate of collapse for the companies, mostly start-ups, at over 400,000.