Operators of Small and Medium Enterprises (SMEs) have welcomed government’s move to formulate standard regulations intended to guide the development of businesses in the country.
The chief membership officer at the private sector foundation, Mr. Francis Kisirinya says government has partnered with Enterprise Uganda to formulate Business Development Services (BDS) which will guide SMEs to properly operate their businesses to be able to make profits.
BDS are non-financial services used by entrepreneurs to improve the performance of their businesses, access to markets, and ability to compete.
He says, currently guidelines are in draft form and soon, they will be gazetted.
“We would like to sensitize Ugandans about these standards and encourage business development services providers and be able to render quality services to the business community,” he said.
He says the business operators have not been getting quality services whenever they seek services from the business development services providers.
The executive director of the Federation of Small and Medium Enterprises (FSME), John Walugembe says many SMEs have lost money in substandard services.
“A lot of SMEs have approached experts to develop a business. The person develops a substandard plan and fails to get money from the bank and in the process he loses out money,“ he noted.
He says the move has been long overdue for the government to take action, explaining that SMEs play an important role in supporting the country’s economic development.
He asked the BDS providers to offer quality services to the business operators.
