“With the prevailing security, people have room to increase their working hours as well as move their merchandise from one district to another without interruptions. This can eventually lead to an increase in their profits and clientele,” he explained.
Business mogul tips youth on job creation, investment
Ugandan businessman and sole proprietor of Maganjo Grain Millers Company has implored Ugandans especially the youth to invest for the future.
Luggya recalled during past regimes where he said it was difficult to start or grow a business due to insecurity.
“In the past regimes, we would hardly work or move goods past 7pm as we would be ambushed and robbed by security officers who had the mandate to protect us with our goods,” he narrated.
Luggya made the remarks while giving a lecture on starting and maintaining family business at the 8th Adventist Business Conference at Makerere.
Luggya encouraged the youth to think of marriage as a partnership that could facilitate hatching of business ideas but not children bearing alone.
“Marriage is an avenue that brings together two brains to start something that can develop their lives and the country at large. Marriage is not only for producing children. Mosquitoes which are never married also produce,” he noted.
He encouraged people to start with small businesses, dedicate time to them in order to study their dynamics as well as how to sustain it.
Luggya advised businesspeople to inculcate business values in their children by allowing them to contribute to the development of their business.
“Involving children in the business is a way of ensuring its sustainability. Children can also introduce new technologies and working mechanisms to the business that can help it grow,” he noted.
Robert Serwanga the team leader at Agrarian Systems Limited told participants that although many people go into farming, many always report losses because of not treating farming as a business.
“If one is rearing a cow, that cow must be able to produce funds to pay for the workers, buy its feeds, medication on top of making profits,” he explained.
He implored farmers to always look out and farm only crops that are popular in that particular area, to minimise losses but also to get market.
“The profits one gets from a farm does not depend on the number of animals or birds one has on the farm but on how efficient one is at their farms,” he said.
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