The MARU Business Incubator aimed at addressing the high mortality rate of small businesses in the country has entered its second day running, with over 80 entrepreneurs being tipped on credit and its implications at every stage of the business lifecycle.
The incubator program, kicked off on Wednesday under a partnership between Maru Credit and Enterprise Uganda, featuring a diverse cohort of businesses with a shared objective to strengthen financial discipline and build credit-ready enterprises capable of sustainable growth.
Participants were drilled through practical learning, peer exchange, and guided discussions focused on improving financial management, strengthening governance, and positioning their businesses for access to finance.
On behalf of the organisers, Ms Rosemary Mutable, the Director of Enterprise Uganda has expressed commitment to walking the journey with every entrepreneur.
“Our approach begins with a business diagnosis to understand where a business stands, followed by training and mentorship support. The goal is to help enterprises align their business aspirations with national priorities,” she remarked.
She also emphasised that today’s focus is on helping businesses understand credit and its implications at every stage of the business lifecycle.
The incubator program comes at a critical time for the economy. Data from the Uganda Bureau of Statistics (UBOS) indicates that while Small and Medium Enterprises (SMEs) constitute 90 percent of the private sector and employ over 2.5 million Ugandans, nearly half of them do not survive past their fifth anniversary.
On his part, Joshua Mazune, the Managing Director of Maru Credit said the incubator is designed as a practical pathway to build stronger and fundable businesses further describing it as an "intentional intervention”.
“We understand what stakeholders who extend credit are looking for: the main goal is to help businesses become credit‑ready by explaining how lenders assess financial discipline, maintain proper records, and ensure structural sustainability. This incubator is designed as a practical pathway to build stronger and fundable businesses,” he said.
The program will run until Friday 27th Feb.