The annual survey, whose findings will be released tomorrow, shows the construction sector registered a 67 percentage growth in sales up from 33 while companies involved in agriculture and horticulture registered 85 per cent growth annual sales up from 27 per cent in 2011.

 

Tourism and the hospitality sector took the third position with hotels, entertainment centres, travel agencies and clubs dominating this category with 83 per growth. This is up from 29 per cent while professional services, manufacturing and retail services operations registered growth of 80%, 74% and 76% respectively.

 

The survey indicates that 74 percent of the businesses hired external consultants for advice or information on matters affecting their businesses.

 

Only 41 per cent of the businesses showed that they are using or would be interested in using online business software solutions.

 

Savings remain the main source of startup capital and it is on an increasing trend while founder savings coupled with bank loans are becoming preferred sources of business capital.

 

 

The results also indicate that since 2011, the companies have registered increase in annual sales. The main driver for the increase include rise in customers and projects, improved after-sale services, marketing strategies, increase in production, opening of more branches and improvement in facilities.

 

Others include increased competition in the market, prompt delivery, effective management, good customer care, credibility of products, skilled and hardworking force.

 

The survey is co-sponsored by Stanbic Bank Uganda, ICEA group and NTV Uganda. The purpose of the survey is to identify Uganda's fastest growing medium-sized companies with a view to showcase their business excellence and highlight their most successful entrepreneurship stories.

Source : allafrica.com