SMEs Have A Critical Role In Creating Jobs & Incomes - Miraj Barot

Small and Medium Enterprises (SMEs) in developing countries like Uganda are critical when pursuing sustainable growth because they create jobs, are innovative and pay taxes to government, Miraj Barot, the Managing Director of Tirupati Group Of Companies, told a high-level conference in Kampala.

“SMEs have played a more successful role in increasing employment and arranging incomes; they are drivers of sustainable economic growth. As they say, little drops of water make a mighty ocean; similarly, smallscale industries can combine and make a huge economy,” Miraj said.

He was speaking at the Religion & Enterprise Africa Summit 2022 event on Saturday at Sheraton Hotel in Kampala. The Summit was organized by Human Capital International Uganda under the theme ‘entrepreneurial transformation through faith-based innovation, investment, trade and technology.’

Miraj, who was discussing the topic ‘Advantages of Having SMEs in Developing Countries’, explained that SMEs have competitive structures and strategies and can easily adapt to changes. “During covid19, a tailor who was making clothes for people suddenly started making masks; SMEs are highly flexible,” he said.

He said that for success, SMEs need to be faithful to their religions inorder to be able to do good, be ethical and with high levels of integrity. "It is very important to have these values instilled in us in our youth so that they not only maintain social values of our families but also the entire country to prosper at large.

700 SMEs Awarded Certificates In Enterprise Development

Stanbic Business Incubator Limited (SBIL) has awarded 700 Small and Medium Enterprises (SMEs) with certificates in enterprise development, this, after three months of training in financial literacy, business planning, contracts and bid management.

The participating SMEs were drawn from a wide range of sectors including oil and gas, transport, renewable energy, hospitality, agribusiness, and manufacturing.

The SMEs which participated in the training program were selected after a competitive application process that got entries from Kampala and across eight districts from eastern, western and northern Uganda.

The training was conducted under the Enterprise Development Program (EDP), which is SBIL’s flagship programme aimed at enhancing local SMEs’ capacity building for business resilience and sustainability.

Speaking at the graduation ceremony on Feb. 11 held at the company’s head offices in Kampala, Tony Otoa, the Chief Executive SBIL said: “I know everyone is asking what next? Well, I can assure you that we are committed to continued on-site mentorship and follow-up of graduates’ businesses. This is all to ensure business survival. We are going to work even harder to ensure that these businesses thrive, create more job opportunities, and drive Uganda’s growth----our purpose as Stanbic Uganda Holdings Limited.”

Speaking as Chief Guest, celebrated entrepreneur and Chairman Simba Group, Patrick Bitature called on entrepreneurs to be committed to a patient process of gradually building their businesses brick by brick.

“Knowledge is power. And today, you leave, equipped with the knowledge to successfully run your business. Use it. It is not enough to have the knowledge, applying it is everything,” he said.

Andrew Mashanda, the Chief Executive, SUHL said, education is the most powerful weapon you can use to change the world. “Our Enterprise Development Program is a critical weapon in the Incubator’s arsenal aimed at realising economic growth and pushing Uganda to a middle-income


The oil and gas sector provided an opportunity of a lifetime, and that opportunity of a lifetime must be seized within the time of the opportunity,” Mashanda added. The training was conducted through a customised online learning management system and involved self-study for enhanced and more effective learning.

Founded in 2018, SBIL has since trained 3,234 Ugandan entrepreneurs attached to 2,007 SMEs.

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