By Jumah Kakomo
In order to recognize the contribution of Uganda’s Small and Medium Enterprises (SMEs) and to celebrate the Enterprenueurs that have contributed to the wealth and job creation in Uganda, Klynveld Peat Marwick Goerdeler (KPMG) and Daily Monitor Publication came up with a survey that seek to identify Uganda’s fastest growing Medium Sizes Companies in order to showcase business excellence.
The survey takes into consideration the profiles of business, business capital strategic planning, business management and performance, business innovation certificates, future plans, business confidence, and support for the greater East African integration.
While breaking down highlights of the 2022 Uganda Top One Hundred Mid – Sized Company’s Survey, KPMG’s country leader and partner Stephen Ineget, noted that this year’s survey conducted from August to November 2022, indicates that 72 percent of the participating SMEs are fully Ugandan owned businesses, representing a slight increase of 3 percent compared to 2019, while those owned by foreigners also decreased slightly by negative 3 percent and advised that business owners should take out emphasis on how to sustain their businesses and customers.
Elizabeth Namaganda, head of marketing Nation Media says participation in the survey is voluntary for all companies with an annual turnover between Shs 360 million to 25 billion that are willing to provide financial ratios based on 3 years audited accounts and other business performance information.This survey excludes listed companies on the stock exchange, Banks and Insurance companies.
She says 35% of the participating companies were from outside Kampala. 2022 has more companies in manufacturing, construction, hospitality and entertainment, and agriculture or horticulture.
“In 2022, the manufacturing sector, hospitality and entertainment, and agriculture/horticulture grew in participation by 5%, 2% and 4% respectively whereas the construction sector declined by 5%.
The Deputy Director General, Uganda Investment Authority Paul Kyalimpa, advised local investors to seek for tax exemption no matter how long the process may take, so long as they hold legal documents can qualify and pledged that UIA through her local investment division ready to support them tap into regional and global markets.