Entrepreneurship

Getting and processing work permits in Uganda

Starting a business or investment or just working in Uganda is a great and exciting experience, however the legalities of doing, setting up business and getting work permits can be difficult to foreigners especially if not informed or with no guide. (Always seek NBK-PREMIER SOLUTIONS LTD for quick and efficient guide – CALL/WHATSAPP – +256 704 597816 ) .All foreign nationals intending to work in Uganda must ensure that they are in possession of the relevant work permit. There are many work permit categories In Uganda ranging from Trade, mining, professionals, missionaries, contractors, etc. The requirements for the different categories / classes of work permits differ. For this article we will stick to business and investment related permits. WHY UGANDA FIRST OF ALL?, Uganda enjoys a unique location at the heart of Sub-Saharan Africa within the East African region and lies astride the equator. The country is bordered by Sudan in the north, Kenya in the east, the United Republic of Tanzania in the south, Rwanda in the southwest and the Democratic Republic of Congo in the west. This land linked position, gives the country a strategic commanding base to be a regional hub for trade and investment. Uganda enjoys

10 Areas You Should Focus On in Business

Article By Jimmy Muhinda An organised venture makes it easy to run and sustain over time. 1.EMPLOYEES. How do you hire/recruit employees ? What do you look for in an employee ? What tasks are available in your venture ? How do you facilitate employees ? How do you build their capacity ? How often do you appraise employee performance ? When and how do you retain or fire employees ? 2.CUSTOMERS Who are your customers ? What categories of customers do you serve ?What category makes you the most money ? What category makes you the least money ? What measures are in place to generate more money from each category of customers ? Must you serve all categories you currently serve ? How must your customers be handled at all times ? How must feedback be received and responded to ? 3.SUPPLIERS. How do you source for suppliers ?How many suppliers serve you ? What kind of suppliers do you deal with ?What terms do you look out for ? How many of your competitors do they serve as well ? Under what terms do they serve your competitors ? 4. PRODUCTS/SERVICES What products/services do you offer ?

Registering & Starting a Company in Uganda

In Uganda, you can operate business under two categories 1) as a foreign company or 2) Local company. Foreign companies are companies incorporated outside Uganda but extending their business into Uganda. Local company or business is one that is incorporated and registered in Uganda regardless of the shareholders origin. It was now made easy in a way that even one person(shareholder) can register a limited liability company unlike in the past when two or more shareholders were needed to form a company Why limited Liability? The biggest benefit of registering your company in Uganda under limited liability is that all your personal assets are safe in case the company goes to drain. Unless there was fraud you involved in, your personal assets are always safe. When we talk of taxes, you as well have a lot of favors , you as well have the opportunity to show all expenses and pay yourself a salary as a director and consider it as an expense which gives you a lot of taxi favors other than in sole proprietorship where presumptive tax calculation is applied. Why register a company before anything else? The more you delay, the more you are likely to lose

Dickson Mushabe Launches a Digital Community Fundraising Platform

The season’s hard, the needs are many, connections are limited, Covid19 crisis inevitably disrupted the way we do things. But as the old adage goes, Tough Times Call for Tough decisions, Dickson Mushabe has brought a solution that is to ease the way communities support each other during and after this global crisis. He designed a community digital fundraising platform Dubbed DOLPHIN FUND. Dolphin Fund ( https://dolphinfund.org/ is a community-driven digital fundraising platform to help individuals, communities and small businesses digitally request and receive donations from well-wishers, friends & family in Uganda and in diaspora. The platform allows one to register a campaign and donors can too contribute to it digitally. To start a fundraising campaign, you go to > https://dolphinfund.org/, register with your particulars, then register for a cause either as individual or as an organization, then set the goal or amount of money you need, what time frame you want it raised in, add reason why you are fundraising, add any relevant media and finally submit for publication. The Dolphin fund team verifies the request, and if it meets the standard it is then published. Interested donors contribute using mobile money or visa cards and if they want privacy

8 Ways Businesses Can Position to Thrive Post Covid-19 Crisis!

With no explanation we all know the waves that are sweeping off the globe. The pandemic has created a very ugly disruption for the global and local everything. Everyone is directly or indirectly affected by the pandemic. Changes will inevitably come. Nothing is going to remain the same. Amidst all, one thing is for sure – We shall make a comeback, but, we cannot come back and do business as it was pre-covid19 time. We must revise the way we do business. This revision is relative to each industry and business. But few things remain evident to make meaning in the days ahead. I explored few nuggets briefly below! And these are not thoughts to just rub on top and run but thoughts that require deep digestion. The era for pass-by, try-and-see business people is fading and thus calls for understanding of detail in every aspect. Let’s roll; Technology, e-commerce and digitization Inevitably digitalization is the way we shop and do business of late. It may seem that these innovations favor big enterprises, but the truth is that small businesses have much to gain from embracing new technologies as well and these tools are frequently both affordable and cost-effective

Things to Consider while Selecting a Business Name

The starting point of every business, company, brand and any legal structure we know is the business name. All the brands that stand out in our minds are names that were created by the founding team. A company name determines some big percentage of what perception it will create in the minds of the people. Choosing a good business name is very important and it’s key to differentiating you from your competition. Where as industries can have varying business name needs but there are some key things that remain key considerations. These key considerations are not an auto button for business to be successful but truthfully a good name makes some difference. Matched better with quality service, a good business name can take you miles. In my work as a Consultant & Entrepreneur, i realize some people choose their business names basing on emotional grounds (their father’s, mother’s, wife’s or child’s name or even their own name, memories, events, milestones, trends, etc). Some other people prefer to choose names that inspire while some other will go with names they want to portray good qualities about the business. Whatever name you choose, and for whatever reason, is totally up to you

Registering a Company/Business in Uganda

Uganda is ranked as one of the best investment & business destinations in Africa and as well one of the most entrepreneurial countries in the world. You may be one of the many people intending to start operating a business in Uganda. Whether a foreigner or native, there are easy steps to getting legally operational ranging from registration, licencing, taxation, etc. The first step is registration and it is what we will focus on in this article. Company Registration The regulatory body responsible for business registration is the Uganda Registration Services Bureau (URSB) To register a local company or business in Uganda doesn’t cost much time and resource. If you use consultants like NBK-Premier Solutions on process guide, it becomes even more easier and faster. A local company in Uganda is one that is incorporated and registered in Uganda regardless of the origin of subscribers. It was now made easy in a way that even one person(shareholder) can register a limited liability company unlike in the past when two or more shareholders were needed to form a company. STEP BY STEP GUIDE* The information and process required for the incorporation of a local company is as follows according to URSB;

How to Obtain a Money Lending Licence in Uganda

Venturing into a money lending business is a good profit-guarantee idea especially in this economic slow down where people need money for emergencies. You need to define your market if you want to be competitive. It will be best if you will be starting up under legal obligations and that’s by obtaining a money lending licence is critical. The money lending business is one of the growing industries due to the fact that people are now being affected by the increasing need to address financial emergencies. Money lending businesses usually provides people the opportunity to gain emergency financial help within less time and at no hassle. If you think about starting your own money lending business but you fear that it will not work, then probably you are missing an opportunity to profit, start today. The most common lending in Uganda is of quick loans starting from 100,000 UGX to 20,000,000 UGX issued upon providing security of sell-able items like computers and laptops, cars, motorcycles, land and more fast moving items. There is also lending for the big sums from 50m to billions. It is all same category and regulated and licenced the same. Under the laws of the government

Success Tips for Micro & Small Businesses

A month back, i went to buy green vegetables and fruits at our usual roadside market stall and found myself into business Lugambo (random talk) with the woman seller. Being a Consultant and Entrepreneur , i watch a lot of things every time i come across a business regardless of size. I was surprised of increased prices on vegetables, the bundle has decreased somehow and I was prompted to sit with her down to know the up & downside of such a micro business. It had not come to my mind that in sunny season vegetable prices rise. Mehn! , So insightful. You may think running such a micro trade business is a walk on just but there is much that goes into its success; the logistics, planning, storage, partners, financial management, records, etc. Getting and idea in business is one thing and putting it to work is another. I was touched to find that she have had difficulty in record keeping and money management and together in a few minutes we established a better way to keep her records and track income and expenditure and account for loss and profits each ending day, so as also to have monthly

Is Social Media Marketing Effective for Small Businesses?

Many people ask me; “Nich, Do your social media/internet engagements bring in revenues, you seem to have them as a marketing channel for all your associates?”. First things first, it works on a long term perspective. You don’t need to be too logical and needy, else you get frustrated. Secondly, you must understand the surge and waves direction of target audience. Yes, it works. In 2017. we fired all our marketers and we regret little. So, today morning while interacting with a client and friend, she said that it would be fun to be a social media manager for her restaurant/cafe business she is setting up. All that a social media manager has to do it browse social media all day and share about their business while lazying behind the computer/phone screen – She thinks. I wish it was true, but it is Not. You see there is much more than meets the eye, there is content creation (needs strategy), curation and scheduling, there is understanding of your audience consumer behaviors, there is consistency (many fail at this), etc. There is much more to do than what people think. But, the rewards are worth the efforts when doing the right thing. In

Nicholas K. Quest

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Getting and processing work permits in Uganda

10 Areas You Should Focus On in Business

Registering & Starting a Company in Uganda

What to know about Money lending business in Uganda

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