Ready4Finance & Farming as Business Training, Uganda

IFDC CATALIST-Uganda

Participants of IFDC CATALIST-Uganda workshop facilitated by BiDx and IRIS - PHOTO: IRIS.

Over 50 Agribusinesses and SMEs were selected for a training held from January 19, 2015 to February 6, 2015 that was initiated by IFDC and managed by BiD Network in partnership with IRIS Consulting. Agribusinesses or entrepreneurs involved in the rice value chain attended the trainig in Mbale, those supporting the cassava, sunflower and soybean in Lira while trainings for irish potato were held in Kabale.

Acceptance of SUBSISTENCE FARMING  is equal to the promotion of SUSTAINABLE POVERTY. For sustainable economic development we must move relentlessly from farming for subsistence to farming for CASH and PROFITS

The event was more like a bootcamp with interactive group sessions and team collaboration. With the help of facilitators in small groups, the participants figured how to plan for their businesses, keep up to date business records, undertake risk and portfoilio analysis and raise capital for their enterprises. The participants will be expected to develop full business plans so that their companies can be supported further to raise private equity funding, scale operations or access grants from IFDC CATALIST-Uganda. Some of the great takeaways for the participants from the event were social interactions and B2B networking.

Having a good business plan is a handy tool. "If it works on paper it may as well work in real-life but if it does not work out on paper, it will most likely not work in real-life".

One of the training facilitators, Iga Zinunula Samuel emphasized that FOOD SECURITY can’t be separated from INCOME SECURITY. FARMING AS A BUSINESS will enable Farmers to produce surpluses for the MARKET and become a greater force in the MARKET PLACE. The Private sector must take the lead, with government providing an enabling environment