Hi everyone:
Welcome to the Uganda trip blog! It's great to have all you folks 'aboard' for the trip. We are very much looking forward to travelling and exploring Uganda with you.
Popular Posts
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A few days ago, we visited our first school in Uganda! As an education major, this greatly excited me. It was raining in the morning and a b...
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We visited The Foundation for Human Rights Initiative in Kampala, Uganda, on May 27, 2019. During our meeting the NGO expressed their self-s...
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The Drake University faculty and student participants in the 7 th annual Sustainability in sub-Saharan Africa study abroad program depart... -
The health care system in Uganda, as we saw, is not up to par with that of many other countries. Overall the system as a whole is lacking....
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Hello fellow classmates, this is Michaela under Payton's account and I have some thoughts about our time in the Parliment building speak...
Business and Entrepreneurship Shops/Microfinance
ReplyDeleteWhile in Uganda I noticed the prevalence of entrepreneurship suddenly. There are so many independently owned shops that sell the same product or do the exact same service. Also, even at the equator the shops placed right next to each other sold the same products and tried to comparatively price their products. The business strategy used by these entrepreneurs in Uganda is to set everything at a “tourist price,” meaning a price in which only tourists would pay. These entrepreneurs know that the standard Ugandan would always bargain, and if we were not partnered with the MUB students we would be overpaying. Microfinance plays a role because to start business- a shop in this case- these individuals could take out a loan. Microfinance is like banking for people who do not have a lot of money.
How could entrepreneurs of individual shops originalize their businesses in a sustainable way while still continuing competitive prices?
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