What Is Business?
Business is the activity of making one’s living or making money by producing or buying and selling products. It is also “any activity or enterprise entered into for profit.”
Below Are The List Of Businesses To Start With UGX 500000 In Uganda
- Small restaurant
Start a small restaurant to sell basic food especially in Kampala. The restaurant can have a sitting capacity of even 4 people. Expand later when you have enough money to operate a big restaurant.
- Start printing and photocopying business
Another good business to start especially near a school involves printing, scanning and photocopying. Students and teachers will be using your services regularly.
- Playstation business
Another business to start is PlayStation. Nowadays so many people are playing these games especially in Kampala. The beauty of this business is that it’s not crowded.
- Pharmaceutical Shop
If you want to become rich quickly, start a pharmaceutical shop. People get sick daily, most of them don’t have to go to hospitals; they get drugs from nearby pharmacies. If you can manage to get a license from the government, go ahead to start a chemist. Capital required is in the neighbourhood of UGX 3 million.
- Grocery shop
You can start a grocery shop to sell vegetables and fruits. You don’t have to get a room for the business, just beside the road and you are good to go.
- Salon
Salon business is booming in Uganda because every woman spends at least ones in a month on salon. The good thing is that you don’t need a lot of money to start one. The cost of starting a salon is below UGX 2 million. On daily basis, you’ll make more than UGX 50,000.
- Selling second hand clothes
More than 70% of Ugandans wear second hand clothes. These clothes are imported from Dubai, UK, Germany, Turkey and other countries and sold cheaply in Uganda. This is business you can also start and become a millionaire. With even UGX 500, 000, you can start selling second hand clothes in Uganda
- Bodaboda business
Another best small business to start in Uganda is operating bodaboda.Buying one can be achieved through a loan. There are some companies which accept payment in installments.
- Hawking goods in Kampala
You can also start the business of hawking goods along the streets of Kampala. The cost of starting this business is as low as UGX 20,000.You don’t need a license to start hawking goods in the streets.
- POPCORN PRODUCTION BUSINESS
People buy snacks ever now and then, and popcorn is one of the most selling snacks, because people eat it in their home, along the road, in their shops, vehicle and even in the cinema’s. Stating popcorn business doesn’t required a shop to get started, in most cases it only requires an exposed environment. Popcorn business has no gender discrimination and if you get the right tools for popcorn, the business is totally stress free and you can also be making good amount of money daily if you are in a busy location.
- PHONES SALES BUSINESS
People buy phone every day and will still buy tomorrow and will still continue to buy, with Ugx.500,000 you can start phone business in Kampala. There are UK used untested android and blackberry phones they are selling in Mutasa Kafeero plaza and neighboring buildings starting from 50,000 Uganda Shillings each.
- PHONE ACCESSORIES BUSINESS
Phone accessories are phone stuffs like phone chargers, air pies, USB memory card etc. people have issues with their phone accessories every day mostly chargers. This business is very lucrative if you are in a busy location. Starting this business is not costly, you can start this business with 200,000 Uganda Shillings. You must have bought charger or ear phones among other accessories before, this is to say people are buying them always due to the poor-quality Chinese accessories in market today. People always get issues with their chargers among other accessories, hence required to get new ones - FISH FINGERLINGS PRODUCTION BUSINESS
Have you seen catfish before? the baby of catfish is called fingerlings. If you are a person that like agriculture such as farming, then you can venture into this business as it very lucrative and it requires some skills. There are places to acquire the skills and, in most cases, it cost you nothing. The process of producing fingerlings is easy, the only important thing is getting buyers ready before production.
How To Register A Business In Uganda?
Search for the business name.
Reserve the Business Name.
Obtain Certificate of Incorporation.
Obtain an Investment License.
Obtain a Taxpayer Identification Number (TIN)
Obtain a Trading License.
Register with National Social Security Fund (NSSF)
Make a Company Seal.
How Much Money Do I Need To Register A Company In Uganda?
Business Registration Forms Fees
| Details | Costs (Ugx. & US$) |
|---|---|
| Registration fees of nominal capital of 1M-5M | UGX 50000 |
| Registration fees of nominal capital exceeding 5M | 1% of Share Capital |
| Stamp duty | 0.5% of share capital on new companies with share capital above UGX 5M |
| Registration of certified copy of memorandum or equivalent | UGX 956763.25 |
How Do I Start My Own Business As A Beginner In Uganda?
Find a business idea.
Write your business plan.
Secure financing to fund your business.
Choose a business structure.
Get federal and state tax ID numbers.
Obtain a business license and permits.
Open a business bank account.
Get business insurance.
How Long Does It Take To Register A Company In Uganda?
Certificate of incorporation; when you submit relevant documents, the process may take up to 3-7days to pick up your certified copies and certificate of incorporation.
How Do I Get A Business License In Uganda?
Identification: passport/ Driving permit/Voter’s card. Original KCCA receipt for the previous year for already existing business. Original certificate of incorporation of the company for the new business.
How Do You Start A Business With No Idea In Uganda?
Start with Something You’re Passionate About. Passion alone can move mountains for you.
Research Your Market.
Set Financial Goals.
Make the Content Shareable.
Think About Marketing.
Build a Following.
Launch Something You Can Sell.
What Are The Benefits Of Registering A Company In Uganda?
Safeguard your business name by acquiring a trade name. Access opportunities like loans, tenders, financing etc. Business formalization creates more employment opportunities through business expansion. Enables registration for licenses e.g Investment, trading and taxation licenses.