Young Entrepreneurs Urged to Embrace Marketing

David Sempala, Chief Executive Officer of Royalway Media Ltd

Uganda is very well endowed for agriculture.  Strangely however, visit this site visit many of the families in agriculture have been living in poverty.

According to President Museveni, see this is because of ignorance, cheapest and poor leadership in some parts of the country.

Museveni said to get wealth through agriculture, there is need to move from subsistence agriculture to commercial agriculture, as well as end the wrong practice of land fragmentation on inheritance.

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He advised Ugandans to stop dividing the land inherited, but rather divide the net income from the land and the wealth after removing costs among the beneficiaries.

Museveni said that this will preserve what the parents built up and also give share to the inheritors, but in a healthy way.

The President noted that he had seen good results from those that moved to commercial agriculture.

“Through the stimulus of NAADS and Operation Wealth Creation (OWC), many families have responded very well,” the president said, adding that the only problem now is inadequate seedlings and breeding stock.

Museveni said this was because the government is still devoting little money to this effort on account of its strategy of prioritization.

“We are spending Uganda shillings 3,000 billions on the roads; 1,300 billions on health; 2,300 billions on education; 2,850 billions on energy and mineral development; and 1,650 billion on Security.  On NAADS, we are only spending 203 billion shillings,” Museveni disclosed.

The President said that now that the magnitude of the demand had been realised, the government shall in future, upscale the expenditure on this item.

He said this could not be done in the current year because of the elections, the visit of His Holiness the Pope, the Scouts and other temporary factors.
Start up businesses, store especially small-and-medium enterprises, advice need to embrace strategic marketing to be competitive, attract demand and sustain growth, a marketing consultant has said.

According to David Sempala, the RoyalWay Media Chief Executive officer, marketing and good customer Services are key components in a business strategy.

Many small business owners, according to Sempala, do not appreciate the importance of marketing and fail to plan business cycles such as off-seasons, or economic downturns.

“Without marketing there are no sales and without sales, there is no revenue. Any business will collapse without revenue” he added.

The Marketing Entrepreneur was a key guest speaker last week at Mara Foundation Mentorship forum which supports young entrepreneurs builds strong business ecosystems.

Small business owners spend so much time running their business; often they forget the only way to survive is to attract customers.

Marketing has become a powerful tool for any startup company as it’s the foundation for any company revenues for growth.

However many SMEs think it’s only something for the big corporate players.

With more than two million small businesses in Uganda, you need to set yourself apart from the rest and get your brand in front of potential customers.

He advised start ups to first adopt cheap creative marketing tactics that may include digital platforms, good customer services and relationship building as key marketing avenues before venturing into mass media channels.

A variety of forces are reshaping the business landscape, chief among them ongoing economic uncertainty and shifting customer demands.

According to Uganda Investment Authority the Ugandan economy is supported mainly by MSMEs contributing about 90% of the private sector production.

SMEs are the prime source of new jobs and play a crucial role in income generation, especially for the poor. Promoting start up enterprise development is a suitable enabling environment for business creation, survival and growth. The event was organized by Mara Foundation.

The ‘Mara Foundation’ is a seed funded social enterprise that was founded in 2009 by serial entrepreneur Ashish J. Thakkar, founder of the ‘Mara Group’

The Foundation incorporates three key integral platforms, maintaining a set focus on developing an SME eco system to support entrepreneurs with a particular focus on youth and women entrepreneurs in line with the founder’s vision to create change for a sustainable future.

In developing countries, young and women entrepreneurs face structural and financial barriers in the seed, incubation and growth period of starting a business.

The Mara Foundation’s aim is to address this challenge by developing an ecosystem. Ashish’s meticulous passages as an entrepreneur in Africa has subsequently proliferated his desire to develop such an ecosystem to create impact and drive change for a sustainable future for the youth and women of today.

David Sempala is the Chief Executive Officer of Royalway Media Ltd- a Public Relations & Marketing Communications firm in Uganda.


Twitter: sempalalive


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