Journal
Metropolitan Journal of Academic Multidisciplinary Research
MJAMR
Promotion of Small-Scale Industries and Development of Business. A Case Study; Masafu Subcounty (BUSIA)
Nasirumbi Lydia, Ariyo Gracious Kazaara
| Journal | Metropolitan Journal of Academic Multidisciplinary Research (MJAMR) |
| Volume / Issue | Vol. 2, No. 11 |
| Published | 30 November 2023 |
| ISSN | 3006-4384 |
Abstract
Small scale enterprises are recognized as important for the economic success of countries all over the world because of their contribution to the gross domestic product (GDP), to innovation, to export revenue, to the provision of goods and services to society and large enterprises, to social stability, to employment creation, and to the improvement of economic welfare. These organizations operate within an economic environment characterized by volatility, highly demanding dynamism and tough competition, which often seriously threaten their performance and their survival. The role played by them in any society is undoubtedly important, for instance, in Portugal around 98% of the industrial fabric is composed by SSI. Nowadays, entrepreneurship and firm creation is mostly related to small and micro firms, which lead us to look at them as an important development agent in any society. The Masafu business environment in general is constantly changing in the face of an unreceptive economic environment and a subtle political setting which breeds a highly competitive market. For promotion and development of small scale and industries to withstand the hazards of such a precarious and unfavorable competitive climate, they need to engage in market-oriented strategies. To achieve the fundamental objectives of economic growth through competitiveness on one hand and employment creation and income redistribution (equality) on the other, policy attention has increasingly focused on the promotion of SSIs. The economy and its trade environment present great opportunities for start-up businesses. Therefore, learning and understanding the small-business market is essential for smallbusiness owners as entrepreneurs Knowledge of the market is considered a source of encouragement and energy for growing the business through understanding of the market and gaining market shares.
Keywords
small-scale industries
development and business
Cite This Article
Nasirumbi Lydia & Ariyo Gracious Kazaara (2023). Promotion of Small-Scale Industries and Development of Business. A Case Study; Masafu Subcounty (BUSIA). Metropolitan Journal of Academic Multidisciplinary Research, 2(11). https://journals.miu.ac.ug/pages/article.php?article_id=1485
More in This Issue
View full issue →
11
Credit Policies and Loan Recovery from Customers in Commercial Banks in Uganda; a Case Study of Equity Bank, Kasangati Branch
credit policies
loan recovery
customers and commercial banks
12
Credit Risk Management and the Performance of Pride Micro Finance Uganda
credit
risk management
performance and pride micro finance
13
Digitalisation and Performance of Micro Finance Institutions. A Case Study of Kyebando SACCO
digitalization
performance and micro finance institutions
14
Effect of Direct and Indirect Taxes on Economic Growth in Nigeria
Direct Tax
Indirect Tax
Economic Growth
15
Employee Training and Development on Organizational Productivity, a Case of MTN Uganda
employee training
development and organization and productivity