Kyambadde tips SMEs on keeping records

Small and medium enterprises (SMEs) have been urged to keep books of accounts, integrate ICT tools, and pay tax, if they want to grow their businesses.

“Book records keep information about your business and they help you to know if you are making profits or not. Internet also helps in researching about your business developments and cheating taxes may lead to loss of business when arrested,”

Amelia Kyambadde, the minister of Trade, Industry and Cooperatives, said.

She was speaking at a recent event to close a business skills training programme, conducted by MTN, at Kampala Sheraton hotel. While appreciating MTN’s initiative to train local entrepreneurs, Kyambadde said: “SMEs are a backbone to any economic development because all big enterprises start small.”

Steven Kirenga, MTN’s acting Senior Manager, Enterprise, said: “Over the years, there has been a phenomenal growth in the SME segment, making it a cornerstone of Uganda’s economic growth. The successful implementation of this training programme in the past three years has encouraged us to continue supporting the SME business segment so as to support the economic development of our country.”

The training, which followed similar sessions in the Northern, Western and Eastern regions over the past eight months, attracted 100 participants from the areas of Kampala, Mukono, Wakiso and Entebbe

Source: http://www.observer.ug/index.php?option=com_content&view=article&id=33129

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