Students from Drake University (USA) and Makerere University Business School (Uganda) share their joint educational experiences in development enabled through joint coursework taken at both universities in the USA and Uganda.
As an American whose only notion of prison is based on the American prison system I know I was a little nervous to be going to a prison. To ...
Wednesday, April 10, 2019
Welcome to Uganda trip 2019
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.
Business and Entrepreneurship Shops/Microfinance While 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.
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?
ReplyDelete