Makerere University Business School (MUBS) has partnered with Orient Bank for the 3rd edition of the Orient Business Academy, aimed at training and equipping Small and Medium business owners with entrepreneurship skills.
The academy that will last for 10 weeks, will focus on training small scale business owners that have been in operation for 1 to 3 years and have less that Shs 120m annual turnover.
These will be equipped in areas of entrepreneurial mindset, bookkeeping, competitive market analysis, marketing, human resource management, operations planning and financial planning.
Despite Uganda being ranked among the most entrepreneurial country, most Uganda startup businesses still can’t survive up to five years. According to a research that was done by MUBS in 2004, 1 in every 2 businesses started in Uganda failed within their first three years.
“This is why we started the Orient Business Academy so that we equip as many businessmen and women as possible to enable them grow and maintain their businesses and improve the economy” noted Julius Kakeeto, MD Orient Bank
The MUBS, Principal, Prof Waswa Bulunywa stressed that business training is key in eradicating unemployment in Uganda as well as improving the economic status of the country.
“Operating a successful business takes a lot of effort and continued learning given the changing trends of business operations locally and globally. This training will go a long way in equipping business owners with the right skills and information. I urge them to participate” he said.
30 business owners will be selected from all the applicants. 5 best participates will also be awarded with Shs 20m each