SME Association of Uganda

SME Association of Uganda The objective of the Association shall be to advance the interests of SMEs and entrepreneurs involved in the running of SMEs

Dont miss the DFCU Women in Business Expo 2014 at Garden City 29th_30th Aug 2014. Meet great women expanding the SME sec...
28/08/2014

Dont miss the DFCU Women in Business Expo 2014 at Garden City 29th_30th Aug 2014. Meet great women expanding the SME sector.

Every business needs to bring cash into the company as quickly and efficiently as possible. This enables the enterprise ...
22/05/2014

Every business needs to bring cash into the company as quickly and efficiently as possible. This enables the enterprise to have enough cash on hand to meet its obligations like payroll, rent and other expenses.
Beyond tracking the money coming in out of your business, there are other important reasons for business owners to ascertain the cash position of their business :
Ways cash flow statement can help with business review
1. Reveal more information than the monthly ‘profit and loss’ statement – the ‘profit and loss’ doesn’t show the full picture about what happened with cash flow.
2. Show you where your business stands in terms of cash – a cash flow statement will reveal whether your business is chewing up more money that is being generated.
3. Help spot billing, collections, and payables systems failures – show what exactly is tying up your business’s cash.
4. Reveal ways your business could be more efficient in generating cash flow from day to day operations – allow you to streamline monthly expenses to reduce money going out.

Every small business pays great attention to reaching out to new customers, wherever possible, offline or online, at an ...
30/04/2014

Every small business pays great attention to reaching out to new customers, wherever possible, offline or online, at an event or on a social network platform. They place great importance on networking and building connections. They are quick at sending product information whenever a potential prospect requests for it. Everything is right till this point, but when it comes to follow-up, they usually fall behind. After the initial contact, most small businesses prefer to sit back and wait for a reply, which most of the time never comes. Ensure you follow up leads.

Do you have a marketing plan for your small business? Many small and medium enterprises don't bother to create a marketi...
22/01/2014

Do you have a marketing plan for your small business? Many small and medium enterprises don't bother to create a marketing plan — they think only big businesses need such a plan. Some others write down a plan but only because the bank wants them to do so. Similarly, there is no dearth of small businesses who simply try to copy marketing strategies of their competitors. This is a wrong approach. A marketing plan is vital for any business — small or big. When you don't have a sound plan to follow, you become prone to failure.

So, how to write a marketing plan? I think a simple online search will fetch you a lot of information on this, but it must be remembered that marketing plan is not about setting some vague goals. It is about setting specific goals, tracking and following up on performance — the plan must clearly mention your strategic priorities (not make a long list of them) — what you want to achieve, specific tactics — what you have to do to achieve the objectives, specific dates — when you want achieve them, clearly defined fund requirements — how much it will cost. In addition, you must determine how you are going to track the performance of each of your marketing tactics.

15/01/2014

Small businesses often complain that today's market is so crowded with competition that it is nearly impossible to stand out. There are thousands of players in the same game at the same time. There are big companies with big budgets. Does this mean small firms can do nothing to stand out, particularly because they are restrained by lack of funds? I think what makes the biggest difference is making customers feel appreciated. When it is done effectively, a business can outshine in the market even without any new-to-the-world products, lavish advertising campaigns, or expensive freebie gimmick
Small businesses should never let this opportunity slip away. Placing stress on customer service and customer relationship does not cost a small business much but neglecting them results in missing a potential opportunity to enhance competitiveness and lift its brand image without bothering much about costs. In addition, I would like to suggest to every small business to put the 'wow' factor in their customer service as icing on the cake — there is no dearth of stories in business literature to show how effective this strategy is for changing a business for the better

14/01/2014

Now 2014 is here. Set new trends and goals for business. They have to be quantifiable. These could be:
1. Asset acquistion for yr business.
2. Revenue growth by a certain percentage.
3. Customer acqistion and retention

And so many.

Good luck in 2014

17/12/2013

Fruitful Board Meeting for the SME Association of Uganda to discuss 2014 Strategic Plans.

Address

Kampala
703485

Telephone

0312284552

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