SMEs urged to invest in research for growth

A worker at one of the company’s production lines. PHOTOs by Issac Kasamani

Small and medium enterprises have been advised to invest in research if they are to gain tangible growth. Mr Benson Ndung’u, the KPMG Uganda country leader, said research allows businesses to take stock of informed decisions— whose impact normally shapes both short and long terms aspirations of the enterprise.

“You must know what you want and how to deliver it,” Mr Ndung’u told particpants during the launch of the 2013 Top 100 midsize companies in Kampala last week. He said: “To tap opportunities you must be prepared. You must have structures in place and your judgment must be based on solid and informed decision.”

Ms Jackie Namara Rukare, the Stanbic Bank head of marketing, said without research; the possibility of packaging wrong information is quite high. This, she said partly explains why some products haven’t been received well despite the amount of money companies sink into them.

 In his presentation, Mr Richard Byarugaba the NSSF managing director, said companies need to invest in research – a key priority in any business’ path to growth. “Research is expensive but it must be done. You need good information to make good decisions. In fact you need to have new research for every quarter,” said Mr Byarugaba who launched Top 100 midsize companies’ survey and also presented a paper on business financing.

He said: “I can tell you that I know everything that happens at NSSF and in real time. To be able to do this you must invest in research and systems.”