Enterprise Uganda trains 800 on financial literacy
By Kitts D.Mabonga
Members of the business community players have been challenged not to look at having big capital as the best way to ran successful businesses but should insist on starting small and keep a work plan to help them execute their work with great care.
Many businesses have failed to live and celebrate their second anniversary because of lack of financial discipline and not respecting the business rules of the game like strict record keeping, customer care, honesty and effective interpersonal communication strategies among other disciplines.
The message of caution was recently made by the Enterprise Uganda executive director Charles Ocici while making his keynote presentation to over 800 people that turned up at the special presentation hosted by Uganda revenue authority during their annual taxpayer appreciation week a corporate social responsibility [CSR] efforts by the tax body.
Ocici who is an outspoken and talented business entrepreneurship speaker said people joining the business industry should not rush to commercial banks for loans without critically having a master recovery plan at hand less they risk losing all their collateral.
He observed that it was wise for one to start running a business on a small scale and allow it to complete its official cycle as this helps them to see how they are progressing and important of all they must never divert capital to other emergencies as this puts them at greater risk of collapsing.
The workshop also got special presentations from officials from KCCA, accountants body,UNBS, URSB and UMA among others who imparted messages of keeping a scandal free business and adherence to tax regulations among others.