Advice from Uganda Investment Authority
Maggie Kigozi of the Uganda Investment Authority speaks to Africa Report about business development in the country.
Professor Maggie Kigozi believes in the importance of SME’s (small to medium enterprises) to a country’s economy. As the executive director of the Ugandan Investment Authority, she understands that small and medium enterprises are crucial to supplying raw materials and delivering services to the market. And she recognizes the significant role they play in creating job opportunities.
For this reason, Profesor Kigozi wants to ensure that future business owners are fully informed before approaching financial institutions for funding. In a position to offer sound advice, she considers six important tips for individuals who hope to start a business for themselves.
- Have a passion for your venture. Launch an entrepreneurial idea because you’re enthusiastic about it and want to make a difference. Establishing and running a business requires perserverance and a lot of hard work, so make sure it is something you are happy to spend every day on.
- Have a sound and well thought out business plan. This includes making sure you’ve thought about financing, the machinery you will need, as well as the management that will be handling the day to day running of the company. It is important to have considered every aspect of the business in order to make it work.
- Be fully involved and informed about the sector. It is a good idea to know what is going on in your industry so that you are in-tune with current business trends in your marketplace.
- Examine the market for your product or service and make sure there is a need for the service you provide. Making sure there will be a demand for your product or service is an essential component of starting a successful venture.
- Only visit the bank/ finance institution for funding once you thoroughly know your side of the business. It is often useful to approach a bank at which you have already built up a good track record through previous transactions.
- Keep your personal and business accounts keep separate so that you can effectively and clearly manage the finance of your business.
Comments
Taku’s Concept of partial recycling of water which have passed through the hydroelectric power station.
By Taku celestin julius on March 13th, 2010
Taku’s Concept of partial recycling of water which have passed through the hydroelectric power station.
Concept of partial recycling of water(rivers ) which have passed through hydroelectric power station will help solve the problems of water shortages during the dry season , just think about the Tennessee river authority if halve of it water is pump back to the reservoirs and halve is left to balance the ecological need of the river then the will never be shortages of water to run the turbans for greater energy which our industries domestics home badly need it , this partial recycle can be done depending on the capacity of the dam water , it can also be done through pressurizing pump or other new thinking all the dams in the world could on the human side if we apply this little idea , it will cost us very little to recycle the amount of the water that we need regularly than to build colossal nuclear power planner to energy that have a wrong effect on our environments , just think of it. The increase of water
in the damp will also enable the increase in the numbers of energy generators.
The partial river could be channel back to the dam through underground tunnels over distance of close to a mile, depending on the mind of those at work, if the wish to recycle the river back to the dam through underground pipes then the must think of a means of letting the dam to accept recycle water without while rejecting water already in the dam to navigate through the pipes, if the recycle has to be done through open earth gutters then we must device a mean to weakling gravity and the amount of water recycle to the dam plus the incoming river put together must not be more than the dam capacitated, except otherwise they builders got to widen the dam.
We can still build hydroelectric power station without rivers and streams but with a pool water jack to great height with a totally recycle means or we can create lake at the top of a hill then force the water to run down with a great pressure that can tune our electricity producing motors and then pump the water back to the lake or just plant a tall tower at our back yard that will use this same principle .
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