Entrepreneurship is An Integral Component of African Economies

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Entrepreneurship is an integral component of African economies – it is not surprising that the Global Entrepreneurship Monitor (GEM) report for 2014, ranked Uganda as the World’s top entrepreneurial country.

With a high market value and uses in cooking and cosmetics, Shea butter has become known as Burkina's gold. By training groups of entrepreneurs in the best processing methods and how best to sell their end product, TREE AID is turning an everyday tree product into meals, medicines and schooling.

Most business entities in Uganda are small-scale ventures and operate extensively in the informal sector – young entrepreneurs have low growth expectations as not many of them innovate or develop new products.

Learn more about the challenges and prospects of SMEs and entrepreneurship in Africa.

Firms That Export, Are More Productive than Those That Don't

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The Uganda Women Entrepreneurs Association Limited (UWEAL) is joining the rest of the world to celebrate the Month of Women Entrepreneurs (MOWE), which is a global event that is celebrated in November with the aim of appreciating women's success and inspiring millions of others that are still held up in the confines of cultural and gender-norms or lack capital, information and knowledge to start a business.

“According to our 2017 research, among 210 women in Kampala, only 44 (21%) are exporting and yet Uganda has secured huge markets in China, USA, European Union, as well as COMESA. The truth is, firms that export earn more, pay more, employ more and are more productive than firms that do not export,” Gudula noted.

Read more about women in business to receive export training.