Complete Magazine

2015 | THE HORN MAGAZINE
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THE HORN MAGAZINE | 2015
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2015 | THE HORN MAGAZINE
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THE HORN MAGAZINE | 2015
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2015 | THE HORN MAGAZINE
The Horn Magazine is a publication that
aims to celebrate the business achievements
of people from the Horn of Africa
living and working in the UK. The idea
behind this aim is to inspire all those who
may have an aspiration to do well in the
business world.
The magazine also aims to connect
businesspeople in order to benefit from
each other by sharing ideas and tips. We
believe that this may prove important
in contributing to a well-informed Horn
business community in the UK. At the
same time, with this magazine we hope to
connect businesses with potential customers
through features and advertisement.
We hope you’ll enjoy this inaugural issue
and reap some benefit from the content.
As you will see, we have a couple of
featured articles with a wealth of advice
for businesspeople and those who may be
dreaming of owning a business one day.
We wish you a happy and informative
reading.
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THE HORN MAGAZINE | 2015
anaging cash flow is one of
the most challenging aspects
of being a business owner.
Learning to budget, however, can help
you overcome this challenge.
Many entrepreneurs leave a secure job
to run a business. When you do this, you
move from earning a regular income to
earning a more haphazard income, which
can make personal budgeting difficult.
The haphazard nature of business income
is one of the risks of running a small
business. The following tips will help any
entrepreneur or small business owner
reduce the risks by creating a workable
budget for the business.
1. Create a Realistic Cash
Flow Projection: Don’t assume
your sales will live up to your projected
market potential in your first year or two
of operation. Your dream business may be
terrific, but reality is often quite different.
While it can be difficult to project
income since you don’t know exactly how
sales will go in any month, be as realistic
in your projections as possible. It’s better
to underestimate your potential business
income than to overestimate when you
come to budgeting.
2. List Your Essential Expenses:
Essential expenses incurred
in running a business include wages,
taxes, rent or mortgage payments on
the business property, and operating
expenses such as power, water, Internet
and telephone bills. You may also have
legal obligations that incur a cost, such
as registering your business name. When
you estimate your initial startup costs,
include all the essential expenses for the
first six months, as this will give you some
time to get your business up and running.
Even if you work from home, there will
be essential services and costs you’ll need
to pay for your business.
3. List Discretionary Business
Expenses: Discretionary
expenses for a business could include
buying some supplies, especially in the
initial startup of a business. Do you really
need to purchase new plants for the
office in the first month? Or to provide
free coffee or sodas for your employees?
Decide which items you want, but could
live without until your business can afford
to purchase the items without going into
5 bu
ev
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2015 | THE HORN MAGAZINE
budgeting
ideas for
very small
business
debt.
owner
While people trying to sell you advertising
may tell you otherwise, expenditure
on marketing is not a required cost of
doing business. If your business is selffunded,
or any time cash flow is tight,
focus on marketing strategies that are
either free — networking, public speaking,
media outreach, and even cold calling
— or pay-for-performance, such as
affiliate marketing or referral programs.
For budgeting purposes, it’s best to set
your marketing expenses as a percentage
of sales. Exactly what percentage depends
on your industry and business model,
but 2-10 percent is the starting range
recommended by both SCORE and the
SBA. Note, though, that it may need to be
as high as 20 percent or more in certain
industries, particularly during the critical
brand-building stage.
4. Reduce Debt Quickly:
While it may be difficult to start a business
without incurring some debt, you’ll
want to reduce the debt as quickly as
possible. Debt costs the business more in
interest repayments, so having a budget
that has the business operating in the
black sooner is always a good idea. If
you do take out a debt for your business,
ensure you will be able to make the repayments
every month.
5. Never Spend All of Your
Profits: Always keep some of your
profits in reserve to cover contingencies.
Work out a spending budget that spends
less than you expect to make. Even if
you are operating a small business from
home, do not pay yourself all of the business
profits each month. Instead, work
out a reasonable wage for yourself and
pay it regularly, as part of the budgeted
expenses of the business. If your sales are
higher than you expect in one month,
don’t be tempted to splurge in the next
month. Keep to your written budget and
keep the additional profits aside. That
way, if the sales fall unexpectedly in one
month, you’ll have reserve funds available
to cover the shortfall.
Write out your business budget and
ensure that your expenditure is less than
your actual (not projected) income. A
successful business is one where both
business profits and personal income for
the business owner and founders continue
to rise. Good budgeting techniques
will help you achieve both.
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...............................
The Sole Reb
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SOURCE:www.solerebels.com
SOLEREBELS is an amazing fo
founder and managing director B
Zenabwork in Ethiopia!
SOLEREBELS began as an idea: that the
creation of shoes could be a platform for
inspiration hope. By crafting xtraCOOL
footwear that gave the person wearing
them immense comfort and joy, we create
great employment opportunities right
inside our community and giving the often
ignored a chance to engage in creative
endeavors.
From our inception we proudly employed
and trained the highly marginalized or
those thought unemployable. Together
we set out to re-imagine the traditional
Ethiopian “selate” and “barabasso” shoes
(recycled car tire sole shoe pictured to the
right) in dynamic + vibrant new fashions.
We aimed to create something that was
authentically local but had a truly universal
flavor to it and for the past few years we
have that and more. All the while we never
lose our focus on crafting our wares from
the most eco-sensible materials available: a
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In early 2005, fresh out of college in Addis
Ababa, Bethlehem founded the trailblazing
footwear company soleRebels to provide
solid community-based jobs. Flash forward
five years, many shoes and HUNDREDS
of creative, dignified and well paying jobs
later, soleRebels is the planets fastest growebels
Story
ing footwear company founded in 2004 by company
ctor Bethlehem Tilahun Alemu in her community of
combination of recycled, organic and biobased
materials. Then we make shoes in
the most energy efficient manner possible
– with our talented hands. 2% of global
trade... give us the chance to compete and
WIN some market share, just like TIM-
BERLAND or PUMA, or NIKE or any
of these global brands, and watch what we
can accomplish...
Bethlehem Tilahun Alemu - The
Founder of Sole Rebels
From the humblest of beginnings, Bethlehem
Tilahun Alemu has built soleRebels
into the planet’s fastest growing African
footwear brand.
A trailblazer in every respect, Bethlehem
has shifted the discourse on African
development from one of poverty alleviation
orchestrated by external actors, to
one about prosperity creation driven by
local Africans maximizing their talents and
resources.
Bethlehem Tilahun Alemu was born and
raised in the Zenabwork /Total area of
Addis Ababa, one of the most impoverished
and marginalized communities of
Ethiopia. Growing up Bethlehem saw that
Ethiopia had plenty of charity “brands”
but not a single global brand of its own.
So she set out to change all that. Tapping
into her community’s and the nations rich
artisan wealth and heritages, Bethlehem set
about reimagining what footwear could be.
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ing African footwear brand, the world’s
first and only World Fair Trade Federation
[WFTO] FAIR TRADE certified footwear
company AND the very 1st global footwear
brand to ever emerge from a developing
nation!
Known as the Ecommerce pioneers of the
African continent, Bethlehem took soleRebels
ecommerce engagement to the next
level. Moving beyond the groundbreaking
online retail partnerships she forged
years back with the planets ecommerce
giants Amazon, Endless, Javari, Amazon
UK and the EU’s #1 online footwear
retailer spartoo.com, Bethlehem led the
launch of soleRebels state of the art, fully
ecommerce enabled global website www.
solerebelsfootwear.co.
soleRebels emerges as the first African
brand to become an international job
creation powerhouse with its international
stores forecasted to create over 600 jobs in
the countries where they are located by end
2015 , proof that growth in Africa equals
real global economic and jobs growth
around the planet!
Bethlehem represents the leading edge of
a new generation of homegrown African
leaders, talented entrepreneurs who are
taking on the global market and winning
on an unprecedented level. She gives face
and voice to what grassroots Africandriven
female economic leadership looks
like , as she continues to elevate her nation,
her continent and her company, all KEYS
to creating more prosperity across Africa
and beyond!
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THE HORN MAGAZINE | 2015
LA DIOSA
LONDON
..................................................
Multi-award winning
business, which specialises in
fine jewellery, high-end
fashion jewellery
and luxury scarves.
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LA DiOSA, was born out of the creative style, passion and ambition of
Natasha Faith and Semhal Zemikael, a young London-based design duo.
The friends travelled the world for a year to seek inspiration for their
multi-award winning business, LA DiOSA, which specialises in fine jewellery,
high-end fashion jewellery and luxury scarves. Their initial travels
took them to the Mayan ruins of Mexico, the exotic islands of Thailand
and electrifying destinations such as Tokyo, Singapore, Thailand and Malaysia.
Faith & Zemikael learnt invaluable skills whilst living in Mexico and
trained with a small group of women who taught them how to make
jewellery. Their vivid imagination and adoration for unique gemstones
has allowed them to hand make incomparable designs through pure inspiration.
The designers believe in working sustainably and are proud to
source all their materials ethically.
La Diosa jewellery is worn by many famous people and celebrities including
the wife of Gordon Brown, former British Prime Minster, Sarah
Brown.
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La Diosa:
‘The Goddess’ in Spanish.

2015 | THE HORN MAGAZINE
Natasha Faith:
“I was born in Uganda and came to
London at the age of three after my
father, John Muwanga, passed away. My
father was a well known up and coming
fashion designer in Kampala and
I would say that I gained much of my
innate creativity from him.
“I grew up in East London with my
wonderful mother Edith, who has
always made me feel grounded and independent.
Growing up within humble
settings can almost make you feel that
you deserve to become a product of
your environment. I made a choice. I
wanted to be successful and encourage
young people like myself that you can
do whatever you put your mind to.”
Semhal Zemikael:
“I was born and raised in East London.
My parents, who are still married,
met whilst studying in London in the
70s. My father is from Eritrea and my
mother from Ethiopia. I have an older
brother and we are a close family.
“Despite the conflict between these
two countries I love the true beauty of
them both. The generosity that is found
in these people is very humbling. My
parents have worked hard all their lives
and have instilled the importance of
a strong family, gaining respect and
achieving your dream. My mother run
a business in Ethiopia at the age of 18
and her determination and work ethic
is very inspiring to me.”
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THE HORN MAGAZINE | 2015
Dahabshiil Story
DAHABSHIIL
Largest African based
international money
transfer business.
SOURCE: www.dahabshiil.co.uk
Dahabshiil is the ‘rags to riches’ story of an African
entrepreneur whose business was interrupted after the
Somali civil war. With limited resources and a strong
network of contacts he set about rebuilding the company,
which two decades later is now the largest international
money transfer businesses in the Horn of Africa.
In 2010, Dahabshiil celebrated 40 years in
the business. With Abdirashid Duale as
CEO, and founder Mr Mohamed Duale as
Chairman, Dahabshiil remains a family
business. Today, Dahabshiil employs
5,000 people across 126 countries with
offices in London, Hargeisa, Mogadishu
and Dubai. It provides services to some
of the world’s leading humanitarian
organisations, including the United Nations,
Oxfam, Save the Children and Care
International.
Dahabshiil is arguably one of the most
important multinational businesses in
Africa – providing a vital money transfer
lifeline to those living in many countries
across Africa and beyond.
Company History
Dahabshiil was founded by Mr Mohamed
Saeed Duale in 1970. He started trading
as a remittance broker, selling imported
goods from Gulf States on behalf of
migrant workers and transferring the
proceeds back to their families. In 1970,
Dahabshiil opened its first shop in Burao,
the capital city of the Togdheer province
in North-West Somalia (now known as
Somaliland). Over the next 18 years, Mr
Duale Mohamed, with the support of his
staff expanded the business to become the
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IIL
sed
ey
s.
Abdirashid Duale: CEO, Dahabshiil Group
leading remittance broker in the Horn of
Africa.
In 1988, the business collapsed as civil
war broke out across Somalia, forcing
half a million Somalis to seek refuge all
over the world. With limited resources,
Mr Duale used his experience and strong
network of business associates to set up a
new remittance venture, enabling Somali
refugees to send goods back to displaced
family members. Coinciding with an
influx of Somali immigrants to the UK,
the family set up an office in London. As
the UK’s Somali population grew, so did
Dahabshiil.
In 2009, Dahabshiil made banking history
and launched the first ever debit
card in Somaliland. In 2010, Dahabshiil
opened an Islamic bank in Djibouti. Forty
years on and Dahabshiil’s original values
still ring true: trust and responsibility. The
business has zero debt, remains entirely
family-owned and is committed to its fair
commission fee policy. Dahabshiil continues
to support the Somali community
both in Africa and abroad, investing 5%
of its profits into community regeneration
projects involving the development
of schools, hospitals, agriculture and
sanitation.
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Abdirashid Duale:
CEO, Dahabshiil Group
Abdirashid Duale has worked for Dahabshiil
since his school days, helping
his father Mohamed Said Duale develop
a small Somali family business into an
international firm operating in 126 countries.
Today Mr Duale is responsible for
Dahabshiil’s global operations.
Mr Duale has established a reputation as
an expert in the remittance industry, and
has vast experience in all areas of money
transfer operations. His business network
stretches from Africa to Asia, from
Europe
to the
Middle
East, and
from the
USA to
Australia.
He was
recently
named
as one
of the 50 most influential Africans by the
respected publication Africa Report.
Over a period of 20 years, Mr Duale
has founded new companies in Africa,
Europe, the Middle East and North
America. He is involved in community
regeneration projects in Africa and elsewhere
in the world, in which Dahabshiil
invests a substantial amount of its profits
each year. Mr Duale is a regular keynote
speaker at international conferences.
He has spoken about remittances, telecommunications,
emerging markets and
2015 | THE HORN MAGAZINE
development finance at events including
those at the London School of Economics,
Oxford University and the United
Nations. Dahabshiil has featured in local
and international media including The
Financial Times, the BBC, Al Jazeera, The
New York Times, The Economist and The
Guardian.
In 2013 Dahabshiil won the Excellence
for Enterprise category at the Muslim
News Awards in London. The award was
presented by the Shadow Chancellor Ed
Balls. The Prime Minister David Cameron,
the Deputy Prime Minister Nick
Clegg, and the Labour leader Ed Milliband
all sent congratulatory messages.
“In 2013 Dahabshiil won the Excellence
for Enterprise category at the Muslim News
Awards in London. The award was presented
by the Shadow Chancellor Ed Balls. The Prime
Minister David Cameron, the Deputy Prime
Minister Nick Clegg, and the Labour leader Ed
Milliband all sent congratulatory messages.”
In 2010, Dahabshiil won the Mayor of
Tower Hamlets Award for excellence in
the community and in 2008, Mr Duale
was named Top Manager of the Year by
the International Association of Money
Transfer Networks.
Mr. Duale also serves on various advisory
boards including at the Humanitarian Innovation
Project (HIP), a research project
based at the Refugee Studies Centre, University
of Oxford and the International
Association of Money Transfer Networks
(IAMTN) which represents Money Transfer
Industry/Payment Institutions across
the globe.
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Many people dream of
opening their
own restaurant.
If you happen to be one
of those people, here is
a step by step guide to
get you started.
How to Open a
New Restaurant
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1. Decide on a Restaurant Concept
The first step in opening a new
restaurant is deciding what type of
restaurant it is going to be. Are you
looking at opening a high-end fine
dining restaurant? A casual diner? Do
you have a specific type of cuisine you
plan to serve, such Eritrean, Ethiopian,
Somali, Sudanes or other type of
cuisine? Perhaps you want to specialise
in one area, vegetarian or vegan.
Before you move onto step two, you
first need to define what kind of restaurant
you want to open.
2. Select a Restaurant Location
Location, location, location. It can
make or break a restaurant. Before
you run and sign a lease for your restaurant
location, do your homework.
Is the restaurant location in a busy
area with plenty of foot traffic? If not,
is there enough parking? Have ten
other restaurants come and gone in
the same spot? (Warning bells should
be loud and clear if that is the case.)
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3. Choose a Restaurant Name
Probably the most fun step in opening
a new restaurant! Select a restaurant
name that means something. It can be
a reflection of your theme or location
.
4. Write a Restaurant Business
Plan
There are two important reasons you
need a restaurant business plan. One,
It helps you see big fat problems in
your restaurant plan, like not a big
enough population base or a bad location
and two, no bank in their right
mind will finance you without one.
5. Find Solid Financing
Financing issue is the step that stops
most people from actually opening
their own restaurant. Although it is
increasingly harder to get financing
for a restaurant, it is not impossible.
Between banks, small business agencies
and private investors, financing is
possible. But you need to show up to
your interview prepared and professionally,
showing potential investors
that you know what you are doing.
6. Apply for Licenses and Permits
Many licenses and permits take several
weeks, even months to be approved.
So as soon as you know you are good
to go with your financing you should
start filling the paperwork.
7. Design the Restaurant
A large empty space quickly fills up
when you start adding commercial
kitchens, walk-in refrigerators, a bar
and bathrooms. The design of a restaurant
should be a balance between
aesthetics and seating capacity, always
keeping practicality in mind.
8. Write a Restaurant Menu
A well-written restaurant menu
should be both descriptive, easy to
read and have a clear, uncluttered
layout. A few things to avoid on a
restaurant menu include clip art and
too many disclaimers.
9. Stock your Restaurant
Once you have your restaurant design
down, you can start purchasing
commercial kitchen equipment and
furniture for your dining area and
other areas in the front of the house.
To save money, consider buying used
equipment, as well as leasing certain
items. Commercial equipment with
the energy saving facilities can cost
more at first, but usually pay for itself
in as little as one year.
10. Hire Restaurant Staff
As you get closer to opening day
you need to begin hiring for both
the kitchen and floor. Kitchen staff,
waiting staff and bartenders are all
integral parts of any restaurant, and
you want to hire the perfect person
for each position.
11. Get the Word Out About Your
New Restaurant
Advertising is a must for most new
restaurants. Supplement traditional
advertising, such as newspapers and
radio ads, with new media. Don’t
overlook the power of a good website
for your restaurant. Use social media
sites like Facebook, Twitter, Instagram
and etc to spread the word about your
new place.
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