On October 14, 2016, BOSCO Uganda, through the CE3 Project held its 4th business plan competition. This was the 4th in a serries of business plan competitions that BOSCO Uganda plans to conduct in 2016.
Since April 2016, BOSCO Uganda has been holding business plan competitions aimed at improving business plan writing and presentation skills of entrepreneurs in Uganda. The competitions aim at assisting entrepreneurs to improve on their business plan development skills, and also to attract funding from microfinance institutions. Prize money is given out for the best business plans & presentations which are judged based on how well the guidelines set out by the judges are met, and also on the merits of the business idea itself.
The 4th business plan competition, held at BOSCO Uganda’s Bardege ICT Centre in Gulu town, attracted 18 competitors who registered for participation either individually or in groups. However only 15 out of the 18 registered competitors actually showed up for the competition.
The competitors consisted of trainees who had recently completed an Entrepreneurship Essentials course organized by BOSCO Uganda. The Entrepreneurship Essentials Course is a six topic, six week, computer-based training program. The Entrepreneurship Essentials Course helps to equip learners with basic skills in business and entrepreneurship. All participants who go through the course are able to perform basic business operations such as drawing business plans, marketing, costing and pricing, keeping records, business management and other basic functions.
BOSCO Uganda uses the business plan competition as a follow up to the entreprenueship essentials training. The competition provides new graduates with the opportunity to develop realistic business plans that they are then encouraged to implement. For this reason, cash prizes are usually awarded to the best performing groups/individuals. The winners of the 4th business plan competition were as follows.
Sunday Douglas emerged the overall winner, with a business idea for making paper and cloth bags. He won a cash prize of 350,000 Ugandan Shillings, or approximately USD$ 100.
A group called “T4T Mosquitoes Repellent”, represented by Aciro Winifred came second, winning a cash prize of 250,000 Uganda shillings, or approximately USD$ 70.
Third place was taken by Otim Richard Kitara, who presented a business idea for the production and sale of Ice Cream. He won a cash prize of 150,000 Uganda Shillings, or approximately USD$40.
The fourth position was won by a group called ‘Earth Care Solar Cookers’, represented by Ojok Bernard. They won a cash price of 100,000 Uganda Shillings, or apprximately USD$ 35.