Expert cautions SMEs on aggressive expansion

Mr Ocici at a forum recently. Photos by STEPHEN OTAGE. 

By  Stephen Wandera
 

 

An enterprise development expert has singled out business diversification as one of the most critical challenges leading to the collapse of investments in the Small and Medium Enterprises segment.

Mr Charles Ocici, the Enterprise Uganda executive director, said venturing into more than one business may create business strength, however, this should be done with caution.

Mr Ocici was addressing proprietors of 100 local SME brands in Kampala recently during a one-day forum under which the Association of Chartered Certified Accountants (ACCA) sought to create avenues through which its members could assist to streamline SMEs.

The Top 100 Midsized companies, an initiative of Daily Monitor and KPMG, is where SMEs are recognised for excellent performance.

Mr Jamil Ampomah, the ACCA head of Sub-Saharan Africa, said SMEs should be supported if they are to be relevant to society.


He said ACCA was up-scaling efforts to assist SME’s to deal with challenges of access to credit, human resource management and risk regulation among others.

TIT BITS ON UGANDA'S SMEs

SME employment: About 60 per cent of Ugandans are employed by Small and Medium Enterprises.

SMES recognised: The Top 100 Midsized companies, is an initiative of Daily Monitor and KPMG.