SMEs urged to boost sales amidst economic crisis
Small and Medium Enterprises (SMEs) have been urged to position themselves and tap into opportunities within the African Continental Free Trade Area agreement by adding value to their products.
According to the executive director of the Federation of SMEs, John Walugembe, this move can help them sail through the current economic crisis.
Keep Reading
This, as the business community, launched the 3rd edition of the SMEs week that shall run from July 20, 2022 to July 23rd this year at UMA Show Grounds in Kampala.
This initiative, according to the organisers, is Uganda's premier event that celebrates the innovation and contribution of Micro, Small and Medium-sized Enterprises(MSME) in Uganda to the country's economic development.
Speaking during a news conference on Sunday, Walugembe said the week will address various themes such as enabling MSME recovery from Covid-19 through a conducive policy environment and an expanded tax base that preserves the country's entrepreneurial spirit
"We shall discuss position MSMEs to tap into opportunities in the African continental free trade area through leveraging technology and innovation and will explore the role of the digital economy in driving financial inclusion for MSMEs in the Covid-19," he said
He explained that the most critical issue at the moment is how to support SMEs to sale more both locally and internationally.
"How can SMEs access opportunities through public procurement? How can SMEs compete in the region to ensure that they tap into those markets? We believe this move is critical and we believe it is critical at the level of policy. We believe there is still room for the government to put in place particular interventions that can support these SMEs," he said.
Walugembe said this year's events will celebrate the over 2.5 million MSMEs in Uganda for their perseverance, ingenuity, triumphs and creativity in spite of the Covid-19 pandemic.
He said they expect over 2,000 visitors and over 200 exhibitors over the course of the week including: existing micro, small and medium-sized enterprises, young people and other start-up entrepreneurs, business support organisations among others.
