Business owners advised against dissolving enterprises
By Juliet Nalwooga
As the Covid-19 pandemic continues to take its toll on businesses in different countries around the world, Uganda is no exception.
Many entrepreneurs have been forced to close down while other businesses are on the verge of total collapse.
While the closing of businesses may seem the natural thing to do at such a time, Cuthbert Insingoma the Chief Executive Officer of Tuffic Business Market, a business brokerage firm warns against dissolution.
He says one can benefit more by selling off shares rather than liquidating assets and completely dissolving the company.
Insingoma acknowledges the enormous negative effects of the pandemic on the economy and individual businesses, but quickly suggests some best practices for business owners like better bookkeeping culture.
