Fastest growing business to start in Uganda are not so few as people would have thought the country is one of those poor African sites where profitmaking abilities from the act of buying and selling may be clogged by certain undecided socioeconomic reasons that are not uncommon to Africa. Though Africa may have been known to be poor even in spite of her many natural resources and blessings, Uganda is certainly one of those rich lands of Africa where doing business is a brilliant idea.
The Republic of Uganda is a landlocked country in East Africa. It is in the African Great Lakes region and also lies within the Nile basin and has a varied but generally a modified equatorial climate. It has a population of around 46 million, of which 8.5 million live in the capital and largest city of Kampala. Its official languages are English and Swahili.
Economically, the country has been surviving immensely on various means such as agriculture and natural resources. Most of its significant profits are made through its exportation of agricultural produce and general mining. The country has since then been experiencing consistent economic growth. Up till now the country still has untapped crude oil reserves. It is therefore undoubtedly true that the economic future of the country is assuredly promising.
Fastest Growing Business to Start in Uganda.
Given the above economic stage which the country has set for profit making ventures, it shows that the list of fastest growing business to start in Uganda are copious and cannot be shaded. Uganda is a fertile land for commercial activities, and the record of its growth in gross domestic product by 4.6 percent in real terms and 11.6 percent in nominal terms is a confirmation. Therefore, check out the list of the fastest growing business to start in Uganda right now, whether as a citizen or as foreign:
1. Farming
With every certainty, one of the fastest growing business to start in Uganda is in agriculture. This is because a higher percentage of revenue that the Ugandan government makes comes from the plenty of cash crops and other farm produce from the country. So, largely, you can decide which type or aspect of farming you will like to dive into, rest assured that you will obviously make your very huge profit in no time.
2. Food Sales
Following the business of farming is the business idea of selling raw or cooked food. While farmers have their regular incentives directly coming from the government to facilitate ease in agriculture in the country, it is advised that you maximize the opportunity that this gives, which is, getting food in wholesale majorly to sell them raw or even start a restaurant where they will cooked and sold. It is undoubtedly one of the fastest growing business to start in Uganda.
3. School
With the popular wave of civilization and technological growth of Uganda, starting a school or teaching will never be a bad idea after all. Uganda in 2007 became the first country in sub-Saharan Africa to introduce universal secondary education. Going into the school business is one of the most lucrative idea anyone can employ in the politically stable and economically growing country like Uganda. Also, information spreads it that Uganda has some of the best private universities in Africa.
4. Transportation
Road transportation is the most important way of transportation in Uganda. 95% of freight and passenger traffic is handled by road traffic. The road network in Uganda is approximately 129,469 km (80,448 mi) long. About 4% of these roads are paved which equates to only about 5,300 kilometers (3,300 mi) of paved road. Given this backdrop, delving and diving into the transportation business, however you want it, is another fastest growing business to start in Uganda.
5. Fashion
The economic upturn in the country is a blessing which thus has opened up the minds of her citizens to the fashion world following the pace of civilization that the country must follow. Therefore, having such a strong business idea on starting a fashion store or show will be a very intelligent move that could turn out to be the fastest growing business to start in Uganda.
6. Electronic Stores
Uganda is richly endowed with abundant energy resources, which are fairly distributed throughout the country. These include hydropower, biomass, solar, geothermal, peat and fossil fuels. The country is one of the few sub-Saharan African countries to have liberalized and financially viable energy markets, with generation, transmission and supply segments unbundled since 2001; there is an independent Electricity Regulatory Authority that undertakes sector regulation and oversight. This is enough reason that starting an electronic store is no doubt a marvelous business that is ready to grow within a given limit.
7. Computer Services
In a bid to be abreast with the pace of industrialization and to foster significant growth in IT innovations across the continent, the Ugandan government has stopped at nothing to put in place a policy that precedes Uganda Vision 2040 with an aim to launch and transform the Ugandan society from a peasant to a modern and prosperous country within 30 years. This here is why many Ugandan citizens, young and old, are going into Information Technology, knowing more of the computers and how effectively it can be used to make that national impact.
8. Real Estate
Another fastest growing business to start in Uganda is real estate. With an expanse of land and the high rise in immigration, the need for construction of habitable buildings and infrastructure becomes a necessity that could really fetch a fortune. If you have the money, this business is a very profitable one because as the poor are getting rich, they will definitely need a comfortable shelter and it is only real estate that will work this out.
9. Import and Export
The business of exportation is a very common business in Rwanda and it is no doubt the fastest growing business to start in Uganda. With the large reserve and high production of agricultural produce, it will be a great opportunity for Ugandan business people to start doing a lot of export and import in order to assist the government in constantly improving the state of the economy of the country.
10. Skills and Services
Possessing skills and delivering the services of the skills required are great way of making real cool cash in Uganda, and it can also be regarded as also the fastest growing business to start in Uganda. There are various skills set that can required and what is certain is the fact that people with skills make more money because of the efficiency in their operation than those who sit and wait for customers to come and buy.
Other Fastest Growing Businesses:
-
Communication
-
Entertainment
