“THE STATUS OF SOCIAL ENTREPRENUERSHIP IN UGANDA”
Kampala: In an effort to inspire Social Entrepreneurs in Uganda, Capital Solutions Limited in Partnership with Civsource Africa, have launched the first Social Entrepreneurship Report in Uganda. The Research focuses on the status of social entrepreneurship in Uganda and how a movement of social entrepreneurs can be created to build sustainable social businesses.
The Launch of the Research Report under the theme “The Status of Social entrepreneurship in Uganda” brings together key stakeholders from the public, private and commercial sectors, funders, practitioners, academicians, policy makers and most importantly the Social Entrepreneurs. This Research report sets the tone for social entrepreneurship and how this is shaping the funding agenda within the social sector.
In line with the Sustainable Development Goals (#SDGs) 2030 mainly SDG 1,3,4, 5 & 17, which focus on leaving no one behind, Social Entrepreneurship comes handy in reaching these goals. If we aim at closing all social challenges one day, civil society and all forms of business must build impact-led sustainable enterprises. In the recently, concluded Global Gender Summit in Kigali, over 100 women-led-social enterprises were celebrated. This is a clear indication that the impact of Social entrepreneurship in the economy is very impactful and is one sure way to close youth unemployment, reduce poverty and improve livelihoods.
The Research Report has highlighted some major challenges facing social entrepreneurs notably; (i) 54.7% of the social Entrepreneurs expressed inadequate finances, Lack of awareness on where to access cheap sources of finance and high bank interest rates. (ii) 23.8% mentioned that limited skilled employees to work for the enterprises. (iii) Lack of specific policy or desk in government for Social Entrepreneurs. (iv) Limited networking space for social entrepreneurs to learn and grow their businesses. All these are hindrances to create a thriving environment for the Social entrepreneurs.
Several recommendations have been proposed in order to improve the status of social entrepreneurs in Uganda:
- Push for a policy that will be specifically focused on social enterprises through the relevant ministries.
- Create initiatives that will improve access to finances such as social investments, favorable commercial Bank terms amongst others
- Increase Networking platforms to enhance business growth among social enterprises.