This qualitative study examined the impact that private sector has on the economic development of societies of Uganda while putting its focus on Kampala central division. The study was designed to answer the following questions; what is the effect of trade associations in educating the public about economic strategies, what is the effect of family businesses in improving household income, and what is the effect of cooperative companies on the provision of employment. To answer the above stated questions, the study was guided by the local economic development theory that states that development depends on the location factors that fuel development in the economic base and region through mechanisms of transmission between the economic base and non-base activities, local goods and services and economic policies. The study employed a descriptive survey research design with inclusion of both qualitative and quantitative approaches with a respondent of 133 from Kampala central division who included KACITA, traders, family business owners, KCCA among other employees. The findings of the study revealed that private sector plays the greatest in the development of different societies worldwide. They introduce new technology and provide employment opportunities to the society. This sector generates larger sums of revenue that supports government services towards social, economic and political development among others operations. The study went further and revealed that 125 (94%) of the respondents agreed that family businesses contribute a significant share to the national revenue however, 8 (6%) of them disagreed with the effect. This sector therefore, should be given much attention if Uganda is to achieve its 2030 development agenda.