PRODUCTION & PROCESSING INDUSTRY

LESSON #22

PRODUCTION & PROCESSING INDUSTRY

This industry is also the most profitable industry although most people in Uganda believe that it’s for the government to start up and employ people. Some think it’s only for tycoons (Mr.Mulwana, Wavamuno) or foreign investors to start (Riham/Metah group of companies). 

 

Anyone can start in this industry including YOU! The problem in Uganda is that we process poor quality products or counterfeit goods killing the trust of the very market we want to make money from. As a result we end up importing 80% of household products like cooking oil, margarine, toothpaste, milk powder e.t.c. yet we can do all these and sell them at a relatively cheap price to win the local market plus export them at the same time.

 

HOW CAN YOU START IN THIS INDUSTRY?

1.     Have a clear reason why you want to start this venture; is it to help the society stop buying products at a high price? To save the country money from importing these goods? To stop the production of counterfeit products and win back the trust of the local market?

2.     Get enough data and knowledge about what product to process or produce.(use the internet for research)

3.     Have in mind that at the beginning of production losses will be expected because you have to win the trust of the market with the existing competitors.

4.     Do not be intimidated by the so called giants, remember they were once as small as you are and they grew gradually with time. Rome was not built in one day.

5.     Selling at a cheaper price does not mean making losses, it’s the best way to compete with expensive and already existing companies.

6.     Be honest all the way, integrity is more important than quick profits. Honesty creates trust and loyalty from the market.

7.     Believe in yourself, this is the strongest tool to get to any heights deemed impossible.