A Complete Guide To Starting A Business In Uganda
It is easy to get your business started once you know what to do, where to do it from, and how to do it. But if you are not aware of what to do, it might become a little bit hectic, especially if it's your first time. Uganda is very welcoming.
Business is a sector or organization comprising people committed to achieving or accomplishing one common goal. Therefore, it is very critical for everyone who part of a business to specify his or her vision, mission, and objectives; this airs out and, of course, contributes to what kind of business one intends to startup in the future.
Businesses usually put up in Uganda include; commercial, industrial, manufacturing, processing, insurance, distribution, banking, transport, farming; there is no limit to doing a certain business in Uganda. Still, it's all about what you are passionate about.
To implement your business plan or develop your business idea, you should be able to identify the difference between the private and public sectors in Uganda to help you categorize your startup during the registration process and venture where necessary. Some examples of the private sector in Uganda are sole trade companies limited by share capital and public sector companies limited by guarantee.
Much as you consider putting up a business, there is a major factor you should think about which is serving customers. This is done by offering good customer services, offering good quality products, sometimes you can also sell goods to your customers at affordable and cheap prices so long as it doesn't affect your transactions. The essential measures down here will help you to attract/win the hearts of people if you are targeting to make them your potential buyers and you have to bear in mind that you must be able to allocate resources into the appropriate areas.
Be the challenger to your customers and meet their expectations from your business to satisfy their needs for example by offering good customer service to your customers can run the race ahead of your competitors/ rivals to the market and increase the level of income and revenue to your business.
However the profit is the engine and measure of growth for any business, businesses should also think of their customers, not only offering good customer service and good quality products, they sometimes have to purchase goods to their customers at genuine price as long as it doesn’t put the business into a decline.
Be creative and a good communicator especially when it comes to delivering services to your customers, don’t have to be money minded and forget what customers mean to your business,always offer high quality products and keep the price constant, these will guide you to win hearts of everyone in the community than your competitors.
What to consider before starting a business in Uganda
According to the Us Small Business Administration Office of Advocacy, every step you take in the beginning might have a big impact on your business journey; as they say “bad begging makes the bad ending,” so every business should follow step-by-step before it gets off to start running.
1. Take your time and plan for your startup
As a businessman/lady before you start running a business, first get time, sit down and highlight all the requirements you need to start a business; which step should come first and come later. These are essential things to be considered before starting a business because drafting the guidelines for your business will help you accomplish your monthly and weekly plans and minimize the budget for your business.
2. Let the world know that you have started a business.
Start telling the people you are in business by advertising in a local publication, upload photos, and banners on your website to identify what you are offering to people, pinning fliers along the roadside. These will help you get customers before you even get started because people will have reorganized your company; the sooner you start getting customers worldwide the better the sustainability of the business will be.
3. Have a postal address for your business
Get a location for your business, set an office for your business, and look for post address to let people know where you are operating from and what you are offering to society.
4.Ask yourself why you’re performing better than anyone else.