Borrowing for capital kills business

Borrowing money for capital could be a recipe for business failure among small and medium entrepreneurs.

This is according to the Executive Director of Enterprise Uganda Charles Ocici.

Ocici’s argument is premised on reports that 50 percent of business start-ups in Uganda do not leave to see their 5th birthday.

Speaking to KFM, Ocici said younger entrepreneurs need to avoid borrowing money to start business but rather depend on their savings.