Small and Medium Enterprises (SME) Operators in the Masaka sub-region have been challenged to adopt practices that directly promote their products and commodities to external markets. This will enhance their earnings and competitiveness.
Winfred Ssembatya, the Head of Affluent Business Banking at ABSA Bank observes a need for support to small and mid-sized businesses to tap into lucrative opportunities of international trade, for the growth of their companies and the country.
Ssembatya says that many operators have predominantly focused on the local market, largely due to a lack of information, and limited abilities to invest in market research and logistics, which limits their business growth.
She adds that the bank has embarked on a journey to establish different international corroborations and partnerships to source the required capacities for the growth of Small and Medium Enterprises.
Ssembatya urged operators of SMEs to break all the barriers to international trade by establishing direct linkages with foreign processors of their products. She was addressing a regional export-trade awareness seminar for operators of SMEs within the agricultural-production value chain in Masaka.
She says that such capacity-building interventions will also enhance women’s participation and inclusion in business and the country’s economic growth by providing them with guidance on how to find key geographical opportunities for the business’ specific products and services, as well as identifying different marketing avenues and ways to build long-term relationships with their target customers for long-term success.
Sowedi Sserwadda, the Chairperson of Kibinge Coffee Farmers’ Cooperative Society, in Bukomansimbi district, prefers that besides commercial banks, the government also needs to step forward and directly support SMEs by providing them with low-interest loans.
Reports at the Ministry of Trade, Industries and Cooperative show that Uganda continues to face trade imbalance because products meant for export markets often face challenges that limit competitiveness. These include low-quality assurance, failure to meet international standards, high exportation costs, and financing difficulties.
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