By Our Reporter
210 Small and Medium Enterprises (SME’s) have trained and graduated from a Business Mentoring Program supported by Stanbic Bank in partnership with Enterprise Uganda. The one-year program, which ran between July 2015 and July 2016 was initiated to improve the capacity of small businesses to become more self-sustaining. Participants acquired specialized skills on how to handle financial and administrative management and identify profitable investment opportunities for future growth.
Speaking at a breakfast meeting held at Golf Course Hotel in Kampala yesterday, Stanbic Head of Personal and Business Banking Kevin Wingfield said, “SME’s form the backbone of our economy, they constitute the bulk of the private sector, are one of the largest employers and generate a considerable amount of tax revenue. The challenge however, is that the majority of business owners in these companies have never been formally trained to run their companies professionally, as a result many struggle over time and collapse after just a few years.
