Masindi: The small and medium-sized enterprises (SMEs) in Masindi Municipality have been urged to form cooperatives so as to add value to their products.
The call was made on Thursday, June 27, 2024, during a one-day training organized by the Ministry of Trade, Industry, and Cooperatives held at the Education Hall in Masindi town.
Johnson Abitekaniza, Commissioner of Business Development and Quality Assurance in the Ministry of Trade, Industry, and Cooperatives, says SMEs can improve on quality, quantity, branding, and value addition for their products if they inform cooperatives rather than working individually.
Abitekaniza advised them that cooperatives can also improve their income by saving and borrowing money instead of going to banks or moneylenders who have higher interests.
He added that the same training that is ongoing in different parts of the country aims at promoting businesses, train people on how to improve quality of their products, value addition, branding and also registering their businesses.
Vincent Okema Okettayot, senior officer from the Ministry of Trade, Industry, and Cooperatives, advised the members to formalize their businesses, saying this enables them access to corporate services like banks and government services, among others.
He also advised them to embrace recordkeeping, adding that this helps them to know their income and expenditures and also whether the business is making profits or incurring losses.
While closing the training, the Masindi Municipality Deputy Town Clerk, Patrick Asiimwe, asked the members to embrace forming cooperatives and desist from using middlemen if they want to get profits from their products.
He also urged them to ensure they improve the value addition of their products by avoiding harvesting premature crops like coffee, processing them, and selling them at a higher price.
Business operators who attended the meeting applauded the organizers, adding that the knowledge they have attained would help them improve the quality of their produce and thus increase their income.
Do you have an advertisement or article you want to publish? Mail us at theugreports@gmail.com or WhatsApp +256757022363.
