By Zainab Namusaazi Ssengendo
Uganda Registration Services Bureau (URSB) is embarking on an ambitious mission to register more than 800,000 businesses in just three years across the country.
URSB unveiled the mass business registration initiative to support the formalization of over 800,000 micro, small, and medium enterprises across the country.
On 26 October 2023, the initiative held a stakeholder engagement for the Greater Masaka region targeting commercial officers, business communities, and business and business support organizations to sensitize them with the information, training on requirements for formal registration, reasons to register in line with the country’s national development.
According to Ssebudde Baker, the URSB Manager Planning and Research, they are to hit this goal through the ‘KIRI EASY’ campaign which is intended to register these businesses online.
He said that the initiative is built on three pillars; collaboration as they work with the private sector, the business community, and other agencies so that they can nurture these businesses.
“Currently if you look at the setup of our economy, the informal sector is still predominant and is estimated at around 53.5%. This is still large and has its disadvantages. For example, it becomes very hard for informal businesses to access funds and credit. Bookkeeping is a challenge when it comes to informality. That’s why we have come out massively to conduct this campaign in the belief that in the next three years, we are going to register over 800,000 businesses across the country,” Ssebudde said.
He also emphasized that this will help Ugandans gain business partnerships here and outside the country.
However, despite this, some residents of Masaka say that the move may be aimed at burdening them with taxes and that the system may oppress them, especially those working in rural areas.
These have also said that URSB registered some businesses a long time ago but many collapsed but they cannot even monitor to see whether the registered businesses whether they are still exist.
In response, Ssebudde assured them that this time URSB will operate with them to ensure that their businesses continue to grow.
