Presentation to The EIB Institute JAMBOREE 26 September 2012 by Carmelo Cocuzza
Contents • The Uganda Context • Our Mission and Target Group • Our Activities • Our Methodology for Developing Sustainable Enterprises • Partners 2
The UGANDA Context • Uganda has at least an estimated 1,000,000 non-farm micro and small enterprises employing over 2 million people. • Our MSE needs assessment study, carried out on 160 enterprises in 2008, revealed that in Kampala alone 97.5% of those 97.5% interviewed want to be trained on how to manage a business . 3
The UGANDA Context • 88% of those interviewed only keep manual records of their business, 73.5% of them would be willing to pay a fee to learn bookkeeping • some 71% would be interested in renting a small office where they can keep their books and prepare their business plans. 4
FinAfrica - Mission and Target Our Mission “ to facilitate the establishment and development of sustainable small businesses in Uganda thereby creating wealth for the economy and reducing poverty .” Target Top Our target group lies essentially at the bottom The sector of the social pyramid: Middle - Existing Micro and Small Enterprises (MSEs) that are striving to establish themselves; Small and Medium sized The Bottom enterprises that are struggling to expand or grow their business 5
Activities Sustainable Incubated Enterprise 3 .Business 1.Business 2.Office Support Plan & Skills Incubation Services : Training Mentorship 6
Our Methodology for Developing Sustainable Enterprises Vocational-University Graduates Small Business Associations INTRODUCTORY SEMINAR ON ENTREPRENEURSHIP Key considerations for starting a business CORE TRAINING ON BUSINESS PLANNING & MANAGEMENT 3 .Business Support MENTORSHIP AND ADVISORY Services : TRAINING INCUBATION FACILITIES SERVICES Mentorship -Marketing Skills -Dedicated office infrastructure -Financial Management & -Financial Planning -Secretarial &Admin Support -Marketing Coaching -IT and Legal INCUBATED SUSTAINABLE ENTERPRISES 7
Activities - 1. Business Plan & Skills Training 1.Business 3.Business Support Plan & 2.Office Services : Skills Incubation Mentorship Training A blend of classroom and e-learning courses targeting existing or would be entrepreneurs to improve their business management skills. Eg: 1. The formulation of a detailed business and marketing plan 2. Financial skills 3. Business Development and growth strategies + 4. In-depth business management courses for medium sized enterprises through the Cisco Entrepreneur Institute 8
Activities - 2.Office Incubation 1.Business 3.Business Support Plan & 2.Office Services : Skills Incubation Mentorship Training • In-house office structures for start-ups with dedicated computing and telecommunication facilities as well as shared receptionist, secretarial and meeting facilities. • The incubated businesses benefit from shared administration and overheads, including accounting and website development services. 9
Activities - 3.Business Support Services : Mentorship & Coaching 1.Business 3.Business Support Plan & 2.Office Services : Skills Incubation Mentorship Training • Assist businesses in developing growth strategies including market penetration, budgeting, financial forecasting and projections • Assist in formulating funding requests for commercial banks, venture capital funds or investors • Business skills coaching for business owners • B2B linkages • The E-club Mentor- Coaching ship 10
Our Success so far.... • Over 200 students trained in Business Planning since 2010 • 9 new start-ups currently being incubated • 21 enterprises undertaking our mentorship programme • Establishment of an Entrepreneurship Club with over 90 regular members 11
Partners CISCO Makerere University UYMP Business School Entrepreneur Institute Uganda Youth Mentoring E-based entrepreneurship Program(UYMP) a Local workshops with content - Joint workshops Business club based from Stanford & Cornell - Market research Group Mentoring Universities - Entrepreneurship Program. - Starting a Business studies - Growing a Business UYMP links young - Entrepreneurial entrepreneurs in Uganda Mindset; to experienced & - Use of ICT technology successful local business for businesses persons - I Executive Business 12
Our Pipeline of Activities Develop an Enterprise Columbia University, Traidlinks Centre in the Oil region in New York (Irish Aid) Northern Uganda Develop a joint SME Tullow Oil, the leading Contact banking strategy to Oil contractor in strengthen the loan established to portfolio of Ugandan Uganda, has requested develop a joint on- banks - consisting of : whether FinAfrica could line mentorship 1 : screening and training assist in the new business loan programme establishment of an applicants ; enterprise centre in between US-based 2: coaching existing northern Uganda MBA students and borrowers to realign offering business Skills their business Ugandan training, incubation and performance and entrepreneurs mentorship. develop a growth strategy Main Partner: Traidlinks 13
Our Pipeline of Activities: A Web Business Academy Google Inc Bocconi University, Milan, Italy Negotiations are Develop joint underway to research, lectures develop Google’s and seminars on web-based entrepreneurship business skills and business academy in development in Uganda Uganda Main Partner: Makerere University Business School 14
Visit us on the web: http://www.finafrica.org Facebook: FinAfrica Entrepreneurship Centre Twitter: FINAFRICA (@FINAFRICA)
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