Annual top 100 SMEs survey launchedRepresentatives of the sponsors and organizers of the survey take a photo opportunity to launch this year’s edition which include the Ministry of Science, Technology and Innovation.
July 24— The annual Uganda Top 100 Mid-sized companies survey for 2019 was launched this morning. This year’s survey will be carried out under the theme ‘SMEs shaping the future business landscape’.
It is being organized by the Daily Monitor newspaper, KPMG with support from dfcu Bank, the Uganda Investment Authority, the ICEA Group and the Ministry of Science Technology and Innovation (MoSTI).
Identifying and showcasing Uganda’s most successful SMEs is the ultimate goal, but the survey will also feature a conference and a gala award dinner to be held o November 28th and 29th respectively.
Participating companies are required to voluntarily fill forms and answer a questionnaire then submit to designated offices. Qualifying companies should have a turnover of between UGX360 million ($97,000) and UGX25 billion (nearly $7 million), audited financial statements for the last three years and are not currently listed on any stock exchange.
Specific awards will be given to a Leading Woman Entrepreneur, Innovative company, Revenue Growth Champion, Shareholder value Champion, Best Rural-based company and Working Capital Management champion
Mathias Katamba the CEO of dfcu Bank, which is one of the survey’s longest sponsors, advised business owners to formalise their enterprises if they are to access financing from commercial banks
“Registering your business and paying your taxes in time is one way of growing your business successfully, because it will force you to keep your books of accounts which can be used to secure a loan. As dfcu bank, we have been working with SMEs and helping them to grow since we established in Uganda and we will continue to do that,” he said
Katamba said supporting SMEs is crucial for the development of the economy as they employ the largest number of Ugandans.
Representing KPMG Ugandaa, Rukwango Asad, said participating in the survey will allow companies to acquire additional knowledge on business management as well as get some exposure and a chance to network.
“We have and will continue organizing meetings participants where we tell them about loan acquisition, tax exemptions, accounting, corporate governance among other topics. I urge all SMEs to participate in this survey because it will be good,” he said.
Basil Ajer, Director Entrepreneurship, at MoSTI said the Ministry was choosing to support the survey due to its emphasis on entrepreneurship and innovation which create jobs and generate income.
He suggested local entrepreneurs should pick more interest in intellectual property rights as a way of protecting their products and company names and trademarks.