URSB to formalise small businesses

The Uganda Registration Services Bureau (URSB) is to turn its focus on helping businesses in the informal sector to formalise their operations.

Bemanya Twebaze, the URSB Registrar General, said currently businesses in the informal sector are contributing about 45 percent of the total employment and 33% of the national income, thus the need for informal

business to formalise.

The micro, small and medium enterprises have been identified as the engine of growth for the economic development, innovation and wealth creation for Ugandans.

While launching an investment strategy plan phase two that will run from 2018 – 2020, Twebaze said the fact the informal sector employs over 2.5 million people, they need to be put to book to help them enjoy the benefits of

being formalised.

"Emphasis is going to be put on ensuring that all registration services are digitalised so as to reduce on the cost of doing business," Twebaze said.

Justice and constitutional Affairs minister Maj Gen Kahinda Otafiire, inaugurated a board that will help the registration body to achieve the set objectives.