Knowledge & Insights2021-12-16T15:12:42+03:00

Money Lenders in Uganda – How to Start the Moneylending Busines Right

Money lending is another perfect business idea that can be successful in Uganda. if you have capital and you’re ready to begin, you need to ensure that your new business is well planned out, registered properly with the relevant authorities, and legally compliant. Who is A Money Lender? As defined in the tier 4 microfinance and money lenders act (money lenders) regulations, 2017, a “Moneylender” means a company engaging or intending to engage in money lending business. This company makes [...]

How to Create A Great Workplace Induction Checklist for New Employees

Induction is an opportunity to welcome your recruit to the organization. It can help them settle in and ensure they have the knowledge and support they need to perform their role. You need the right tools and information to handle the different phases of the induction including pre-boarding, Day 1, and the first 90 Days. Hiring the best person for the job requires planning, preparation, organization, and working through a carefully thought-out and practical process until you conduct the activities [...]

The Purchase Funnel

A purchase funnel (a.k.a sales funnel) denotes the process through which you lead the prospect through a path to a purchase. A sales funnel has four distinct but interlinked stages which include: Awareness Interest Desires Action 1 - Awareness At this stage your company makes an effort to reach out to as many prospects as possible. This may be through social media channels, TV ads etc. The reach of the message should be as wide as possible because the more [...]

The Need for HR Policies & Procedures Manual or Employee Handbook for Organizations in Uganda

The HR policies and procedures manual and employee handbook form the backbone of an organization. These documents consist of all the details regarding the treatment to be given to the employees in the organization and help the employees in recognizing the culture of the organization. The HR policies and procedures manual is compiled first and thereafter the employee handbook is prepared in conjunction with the prevailing policies and procedures as laid down in the earlier document. Such documents clearly define [...]

How to Write a Business Plan

A business plan is a description of your business and your strategy for making it a success. You may need to hire a business plan consultant to help you get your business of the ground. Many investors, sponsors, and donors will require a business plan in order to provide funding for your idea. A good business plan can be a roadmap for your business’ future. It can help you to secure capital, and faster growth. Professional familiar with the matter [...]

12 Services at The One Stop Center (OSC) eBiz For Investors Starting Business in Uganda

In a bid to foster private sector development, the Government of the Republic of Uganda created a One Stop Center. This is an inter-institutional project that brings together all players that make it easy for both local and foreign investors and entrepreneurs to easily start and operate a profitable business in Uganda. The center was established to integrate services of key government agencies with an online platform that will enable entrepreneurs and investors to access government services using a single [...]

Four Steps of Developing a Financial Plan to Achieve Your Goals

A goal without a plan is as simple as making a wish and just like you know if wishes were horses, even beggars would ride. It is important for you to make plans to achieve your financial goals. My young friend Tim is 26 years and has just graduated with a bachelor of information technology degree. He is currently working as a back-office IT engineer at a government citizen resource center. He is engaged to his fiancée Mary. He has [...]

Tips on How to Avoid Job Search and Employment Scams

It was a Friday evening when I received a call from one of my lecturers of Master of Human Resource Management (MHRM) of Makerere University. For me, it was the first time I was receiving his call but he sounded like someone adding to a discussion we had seemingly had a week before. I tried to let him know that we had not spoken as he was vexed to maintain that we had talked about a job offer on the [...]

9 Key Topics to Consider for Financial Literacy Training

Introduction Financial Literacy means having the knowledge, skills and confidence to manage money well. One may also say that financial literacy is a process through which an individual (or a family) gains a basic understanding of banking, savings, and the importance of good credit. Knowledge and skills to manage personal money is very important in every economy for all categories of income earners to be able to make the right financial decisions that would foster economic stability. For low-income earners [...]

5 Benefits of a Workplace Code of Ethics and Business Conduct Policy

Business ethics means the code of conduct that actions of people engaged in business activity. Business ethics assumes that a company like Houston Executive Consulting is a corporate moral agency. In Uganda, is a separate legal entity something that reflects the concept of corporate personhood. This explains why a debate still persists for the need to have corporations and individuals held ethically responsible for corporate actions. Undoubtedly, codes of ethics and business conduct policies are intended to prevent companies from [...]

Process of Company Registration and Business Formation Procedures in Uganda

Scope - This Article Describes the Process and Requirements for Registering A New Company in Uganda With the Different Government Agencies Like URSB, UIA, URA, KCCA, NSSF, Posta Uganda, PPDA, PAU, etc. It Discusses the Steps in The Company Incorporation Process in Uganda. You can find the Business Registration, and Company Formation Procedures You Must Not Miss in Uganda. For an entrepreneur to do proper and legally acceptable business in Uganda, it is wise that during business formation, you follow [...]

8 Areas of Business Due Diligence & Requirements for Management Compliance Assessment

Do you want your business to benefit from contracts with the government, international organizations, and established corporate companies? If your answer to this question is Yes, then you must demonstrate higher levels of commitment to compliance with all applicable laws, rules, and regulations. You must follow the highest standards of business ethics. Your company and all your business partners must be ready to take responsibility for ethical behaviour. You have to comply with all applicable laws and regulations in your [...]

Collective Bargaining Strategies and Negotiations with Trade Unions in Uganda

Collective bargaining is the process of negotiation that takes place between Trade Unions (Labor unions) and Employers. Representation by employers in most cases is by management who may come along with Board members in certain organizations. Collective bargaining takes place in respect of the terms and conditions of employment of employees such as remunerations, working conditions, grievance handling procedures, and the rights and responsibilities of trade unions. In Uganda, this collective bargaining process is guided by the National Tripartite Charter [...]

How to Succeed at Interviews – Answer Common Job Interview Questions

During your job search and preparation for job interviews, you’ll meet many publications claiming to provide the ‘correct answers to popular interview questions. However, there often isn’t just one ‘correct answer. One thing you must avoid is to use pre-scripted answers because you might not answer the exact questions you’ve been asked on the day. The best thing to do is to spend time before the interview thinking about the type of question you may be asked and what key [...]

Ways to Promote Your Business Products & Services to Potential Customers

Having carefully designed a product or service which can satisfy the needs of your potential customers, it is time to let them know that the solution is at hand. You need to find the best way to communicate with your customers. Promotion includes all the activities and logical messages you design to communicate with potential customers to persuade them to buy from you. Some of these activities may include: 1- Advertising 2- Sharing information about discounts 3- Personal (one -on-one) [...]

Top 10 Questions to Include in Your Market Research Activity for a Start Up

Your business may need to get information from both potential and existing customers. This information is useful to help you create products or experiences that satisfies their needs and wants. This can be achieved through market research. Market research can be done by employing both quantitative market research techniques like customer surveys and qualitative methods, such in-depth interviews and focus groups. Market research is always the first step of any product development process. All businesses including your own strive to [...]

How to Find A Job in Uganda, Kenya, And Rwanda

It does not matter whether you’re still at school, a recent graduate, or employed and want a change of role, looking for a job can be quite a challenging process. You have to handle it delicately to get the benefits of finding a good job The job market across the East African region (Uganda, Kenya, and Rwanda are desirous positive for jobseekers. With quite a higher youth unemployment it is clear that you will face a very competitive application process. [...]

Setting Financial Goals – Financial Education with Robert Mwesige

Setting financial goals requires you to first get the right financial literacy. Where do you want to go? In other words, do you have a personal development plan that guides you on what you would like to achieve from life? Do you think it is important to have goals? Sometimes you can feel overwhelmed by the day-to-day responsibilities that you forego thinking about goals. A few years ago, my neighbor’s daughter Brenda completed her diploma in business studies. She started [...]

Minimum Wage in Uganda – The Long Awaited Legislation

For anyone wanting to see the minimum wage in Uganda might have to pause because its approval by the president never came to fruition even after parliament passed the legislation. In February 2019, Parliament unanimously passed the Minimum Wage Bill, 2015 which was disallowed by the President in August 2019. A minimum wage is the lowest payment that employers can legally pay their workers. It is also known as the “price base” below which an employee may not accept to [...]

How To Manage Your Money Smartly – Be A Wise Spender

Money is scarce and that’s what makes it valuable. For as long as you don’t have a money-bearing tree in your backyard or a magic lamp that produces money when you ask for it, then it is time for you to be careful with your earnings. Otherwise, you risk being like me who wished it rained money at our home. Just like other successful people, you must make tough choices when it comes to money spending decisions. You must be [...]

Top 10 Trade Associations in Uganda | Sectoral Associations & Membership Organizations in Uganda

Business associations have always been known to bring together business owners from a specific area or all the corners of the country. These may range from national associations to those that encompass businesses in individual sectors, districts, counties, cities, or neighborhoods. It doesn’t matter what the scope is but any business association can provide several benefits to businesses who pay subscription fees. Membership into a business association or a professional body has distinct advantages like networking opportunities, business prospects, sectoral [...]

Developing and Submitting an Effective, Responsive, and Winning Tender Proposal in Uganda

Scope – This Article Discusses how you can Develop and Submit an Effective, Responsive, and Winning Tender Proposal in Uganda. The Writer (Robert Mwesige) Advises on the Best Way to Participate in The Tendering Processes by Developing and Submitting an Effective, Responsive and Winning Proposal Tender Proposal for The Provision of Goods, Works, and Services. Writing an effective response to a Request for Proposal (RFP) is one of the things you rarely find on the curriculum of African schools, colleges, [...]

Occupational Safety and Health for The Oil and Gas Industry in Uganda

Scope – This Article Was Written by Mr. Robert Mwesige for information to help workers and employers identify and eliminate hazards in their workplaces especially those involved in the oil and gas sector. The article introduces applicable OSH regulatory requirements, as well as proposed industry interventions and guidance aimed at identifying, preventing, and controlling exposure to hazards. Just like any other sector of the economy, the Oil and Gas Industry in Uganda is required to protect employees against work-related sickness, [...]

Public Speaking Flowchart – Use These 9 Steps to Become the Best in Public Speaking

Introduction While learning the art of public speaking, I was quite careful to pick the most important concepts including ethics and the role of ethics and plagiarism within public speaking as laid down by our lead facilitator Dr. Keith B. Jenkins.  Keith is also the Vice President & Associate Provost for Diversity & Inclusion Professor at Rochester Institute of Technology. This was during the Course RITx: SKILLS105x Public Speaking which he facilitated and was delivered at the EDX Learning Platform. His [...]

Writing A Winning Tender Bid Response to The Different Solicitations in Uganda

Scope – This Article Discusses the Best Ways for Planning A Tender Response and Prepare the Most Appropriate Responses to A Request for Proposal (RFP, Request for Information (RFI), and Request for Quotation (RFQ. This Content Will Also Help You Learn How to Write A Winning Tender Bid Response to The Different Solicitations in Uganda. This Article Is Simply A Guide and Does Not in Any Way Guarantee That You Can Win the Tender Bid. Overview If a government body [...]

Why Financial Literacy Training is An Urgent Need for Your Workplaces

Financial Literacy is a global challenge where only 34% of the population has this knowledge. In India, 74% of the population is educated but only 24% knows financial literacy. In China, it is only 28%, Brazil 35%, Russia 38%. In the US, it is quite surprising that 38 households have credit card debt 33% of American adults have saved zero dollars for retirement. In many education systems, we spend time finding the value of X and studying the Canadian [...]

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