Initially, entrepreneurship empowerment was know to be an intervention for women and youth only and not knowing that everybody in this generation deserves equal treatment. BOSCO Uganda in one of their project activities decided to empower its beneficiaries by training them along that line then equipping them with the necessary resources needed to startup something.
You know when you give someone or group a startup capital and ask them to startup something viable without giving them clear directives, they may end up misusing the given resources but when you derive a sustainability mechanism just know it work out perfectly.
For sustainability purpose and expansion purposes, BOSCO Uganda gave some of its beneficiaries some startup capital and requested them to work very hard to pay 40% of the given startup capital as a revolving fund after a period of one year so that it is carried forward to another group as a mechanism for sustainability of BOSCO Uganda’s ICT centers.
On the other hand meanwhile, one of the beneficiary was interviewed on how he manages his business and below were some of his responses.
He said he keeps records of all the business transactions he makes. Records every sale made, decides what goods to buy by consulting his records. He has a written budget of the costs he expects to pay for the business in future. He has competitors, and is aware of their strength and weaknesses. He does advertising; outside displays, occasional advertisements on local radio stations and also word of mouth.His location is where it is because of nearness to bus park. The place is very secure from natural hazards and human activities. He seeks advice from his suppliers and senior business friends.He banks most of his profits while he uses some to pay rent, taxes, transport and employees. He has a Business Plan and Mission Statement…
The small businesses 5000 in number in Gulu were surveyed to a certain how they are managing their business, afterwards training were conducted for entrepreneurial essentials and a total of over 1018 persons were trained then out of that number 158 persons were able to startup new businesses.