Making the Stimulus Package Work for MSMEs
The outbreak of the Covid-19 pandemic has exacerbated the challenges faced by Micro, Small and Medium sized Enterprises (MSMEs) that make up over 90% of Uganda’s Private Sector. Their businesses have been heavily hit, leading to low production, low sales but also some have completely shut down.
The different Stimulus Packages in their design makes it hard for MSMEs to access funds and thus the need to engage the policy makers and government of Uganda on the need to make the stimulus packages responsive to the needs of MSMEs. The available packages are not directly addressing the challenges of entrepreneurs for example the requirement for accessibility is that MSMEs should form groups of businesses in the same line, collect a lot of paperwork. i.e. “Emyooga” is limited to collective groups and yet offers a low amount of financing i.e. 30 Million Uganda shillings for a group of maximum 30 members. The financing is not only insufficient but also excludes entrepreneurs who would wish to access such financing individually for their small businesses.
Join this Campaign towards making the Stimulus Packages Work for MSMEs. #StimulusPackagesUg