The literally works of research shows that majority of Ugandans are conversely manning businesses basically to make money and earn a living.
But ever since Covid-19 pandemic took the toll in the past two years, a lot of disturbances accompanied by uncertainties crippled the business sector; Majority of the
businesses faced a heavy brow their by losing clients and market credibility due to that short fall.
The current state of the country in the business sector calls for a lot of changes and technical knowhow in how the businesses are ran.
Majority of the youths today are manning businesses out of curiosity whether they will survive or collapse due to little and lack of information.
Several businesses such as small scale or large scale business owners are challenged by lack of knowledge thereby loosing on grounds of financial management, mindset change; savings and financial inclusion hence the need to see lots of solutions under the business curve and technical knowhow.
Mindset change
Majority of the population today in the country are the youths; so perhaps; it’s another subject of debate since they are the focal and leading champions in the business sector.
If majority of the youths today are in the coffee production; it is therefore a subject of debate on how the youths should change the tide of manning businesses with modern technology in coffee production.
If Ugandans are to develop financially and materially there should be a learning curve of mindset change and for the fact that most of them are into business; mindset change on how they run their businesses should be fostered and put into practice through legal and technical trainings with experts in business sector.
For example; Coffee production is mostly grown in central region; Masaka suburbs mostly preferred.
So, in essence, it is crystal clear that several methods; in the research chronologies have to be detailed and tabled down in business diaries to those in the business sector to ensure the smooth running of their businesses.
It is therefore commendable that if the youths are to thrive in the business sector, there must be a technical team to guide them whatever.
It is quite unfortunate that most of the businesses ran today lack communication yet still it is an avenue for their businesses to see the light of the day; marketed, promoted and sensitized in the public.
The more the businesses are marketed; the more the outcomes and the purpose of it, is to ensure that the mindset change of the businesses are drown in line with promotion and expansion.
Over the years, businesses in Uganda have been ran on a snail’s pace due to lack of knowledge and expertise on how their businesses could grow yonder under the stewardship of technical experts yet still organizations like Ssenkanyi Foundation do exist.
The mindset change in the local setting is a factor of production if businesses are to thrive.
The current research shows that majority of Ugandans in the business sector are the youth wholly capable of learning and ready to put the knowledge learnt into practice yet still those ready to sit and learn from experts in the business sector are still low.
This calls for a lot of attention and vigilance in searching for knowledge on how many could change their mindset while manning businesses.
Financial management
Several businesses have been stationed in different areas; yet the business aspect of financial management though remains a conundrum to many people’s businesses. Several businesses have collapsed due to lack of literally knowledge in the financial management.
For example; Companies such as Caltex and telecom companies such as Zain collapsed due to lack of financial management and readiness to change their mindset at a time when the country and the business sector altogether was under transition.
So; the commendable table of the formidable team and experts in the business sector are
told and recommended to lecture majority of Ugandans in the business sector on how to
overcome financial management flows.
Savings
It is chronically true and justifiable that without saving; none of any business stationed in
the country can survive.
Without savings; none of any business can last for longer.
It doesn’t matter on how much an individual; can earn a living but what matters is the
cost of saving plan that moves any business if she or he manning the business is overtly
interested to see his or her business moving under equilibrium.
If the founder of Face book; Mark Zurkerburg wasn’t interested in savings; none of any
Ugandan would’ve waked up seeing their businesses marketed online and other related
social media platforms.
Fore stance; what started as a face book chat materialized into a tool of marketing
businesses and today people can sit from whenever they’re and post their businesses
online.
Several Entrepreneurs such as those in the business sector; hotel management; and
retailers are therefore recommended to adapt to the saving tool since everyday businesses
thrive on savings and earnings.
The more savings, the more enlargement and enhancement in the business sector
altogether.
Without savings; proclaimed business men in the City forexample; Godon Wavamuno
popularly renowned in the business repertoire as the owner of Wava Water and WBS
Television and Next Media Services NBS TV Proprietor Kin Kariisa also a Business man
Therefore; savings could be relied on as a catalyst in the business domain.
Today; persons such as Kwewayo Kiyimba of Kwewaayo Milk products also the former
Buddu County chief can smile off on the growth of their businesses since their savings
and little earnings paid off.
And therefore; if people in the business sector can save for weekly data to post their
businesses online to reach higher masses such tolls could propel their businesses to thrive
on a bumpy ride.
Most of the business owners are eager to learn yet still the knowledge in the business
perspective could be missing since the real experts to offer trainings are not well
consulted for in time.
Investment
If a business is well invested, then therefore a business is well profitable.
Today; Majority of Ugandans lack technical knowledge and exposure on how businesses
are ran literally.
Many giants men in the country have heaps of money in their shelves and bank accounts
yet still lack the knowledge on which businesses to invest in.
As for clarity; If anyone is interested in business sector; making an investment in any
business; the money alone is not enough. The formidable team of experts in the business
sector could propel the business to that far since Rome too wasn’t built in a day.
Poor investment in the business sector altogether has always been a subject of debate
where several businesses in people in the circles of the business lack technical knowledge
and experts hence ending up losing on grounds of the business sector.
The trend of businesses being owned by old guns in slightly fazing away so those with
burning passion and zeal to stand up small but steadily towards achieving the best are the
youth who presumably lack knowledge in the business sector.
Majority of the businesses well invested are the leading and long lasting businesses.
Investment calls for people to amalgamate such as families; to ensure that the business is
well planned and well fostered.
Therefore; the youths are guided by experts to invest wisely under the watchful eye of
technical team for example; the Ssenkaayi Foundation based in Mengo suburbs; Kampala City.
The state Minister for Microfinance for example; Haruna lKasolo is mandated to ensure
the smooth running of the government projects under financing and management to any legalized group and associations.
As a Minister ready to see the growth of the nation under the financial mode; recommendation to team of experts mentioned up are granted.
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