Global entrepreneurship assignment – designing long term business development plans
Question
Task: how can young businesses design long term growth plans using Global entrepreneurship assignment research techniques
Answer
Chapter 1: Introduction
1.1 Overview
ThisGlobal entrepreneurship assignment chapter will discuss the overall structure of the dissertation that has helped to understand all the aims and objectives and the research question, which will be focused on throughout the paper. This chapter will highlight the main significance of the research topic, which is mainly based on the collapse of young companies at their initial stage in Uganda. Uganda is one of the most attractive entrepreneur countries and has seen a tremendous rate of failure in small businesses, which has created many issues in the country. This chapter will highlight the secondary rationale behind choosing the topic and the overall structure of the dissertation that the researcher, throughout the process, will follow in the dissertation.
1.2 Background
In the recent phase, it has been observed that entrepreneurs have increased their start-up companies in many international markets. The rise of entrepreneurs in developing countries has eliminated the need for implementing effective business growth in these countries. According to the Global entrepreneurship monitor, it has been observed that Uganda is the most attractive entrepreneur country as nearly 28% of the adults are the co-owner of the new business (Ahadi and Kasraie, 2020). Since many public-private bodies have supported this country with the help of various support, it has helped many companies to foster their growth in the market of Uganda. Additionally, the main reason for high entrepreneurial attractiveness in this country is that young people get many employment opportunities, and there are more than 9000 new jobs each year, making the country much more attractive (Monteith and Camfield, 2019). But in recent years, it has been observed that almost the majority of the business is carried out informally and that they are not much focused on scaling the business. Thus, it is the main reason that restricts the young company from flourishing in Uganda. It has been found that young entrepreneurs in Uganda have generated low growth expectations with less innovative and diversified product lines, which is one of the crucial aspects where it is hampering the business effectively (He, 2019). Though it has been observed that in Uganda, there are many more Business learning school opportunities mainly intended to create new entrepreneurs, the overall infrastructure of the country, as well as the inappropriate support of the Uganda government, is not helping the young business thrive in the country. Additionally, due to the high rate of interest and low capital, it is very destructive for investors to invest in small companies, which is another appropriate reason for the failure of the business at its infancy stage (Onoshakpor, Etuknwa and Karamalla-Gaiballa, 2020). With the change in the recent dimension in the business world, it has been comparative for young companies to compete in the market of Uganda, and it creates complex for the company to thrive in this market with the changes in the political as well as infrastructure dimension.
1.3 Rationale
The secondary rationale behind choosing this topic is with the increase in the number of entrepreneurs across Africa, it has been essential to focus on the leading entrepreneur countries in Africa and the issues that the companies are facing. Uganda is a developing country. It has been observed that it provides opportunities for many entrepreneurs to grow. Still, at the same time, it has been found that most business field is at their infant stage. Though earlier there were several opportunities in Uganda due to which the majority of the companies tried to build their business in the country, in the recent period, it has been observed that the rate of failure of the industry in Uganda is increasing (Anyansi-Archibong, 2021). With changing dimensions of the customers and the business climate, it has been found that the majority of the business finds it difficult to survive in Uganda due to the poor infrastructure, lack of technology and proper focus on one particular business. Additionally, in the past, the literature has only discussed the opportunities that Uganda provides to new companies. Still, this research paper will mainly investigate the failure of young companies at their infancy stage. Often, small companies face many issues (Rashid, 2019). The improper political instability is one of the major causes that have led Uganda not to support its new business. Sudden changes in the business environment, which cater to the need for more digitalisation and technology, have been another significant cause where small companies cannot strategically plan all the objectives and align them with formal business requirements.
1.4 Aims and objectives
The main aim of the research is to identify the reason behind the collapse of young companies in Uganda. Some of the significant objectives concerning the research are stated below:
• To evaluate the main reason behind the collapse of young companies in Uganda.
• To identify the barriers concerning Uganda concerning the young companies.
• To evaluate and understand the ways in which entrepreneurs can gain their business in Uganda.
1.5 Research questions
Some of the research questions the researcher will see from this paper have been stated below.
• What is the main reason behind the collapse of young companies in Uganda
• What are the identified barriers in Uganda that have created issues for the entrepreneurs to establish their businesses
• What are some recommendations for entrepreneurs to establish their business correctly in Uganda
1.6 Problem statement
The main problem in the research is the collapse of the young companies in the Uganda market. Due to the political instability and issues concerning the macro and micro environmental complexities, it has been a significant issue for the companies to understand and evaluate all other aspects of the entrepreneur.
1.7 Significance
With the increase in entrepreneurship, it has been observed that Uganda is the leading entrepreneurship opportunity among all the African countries. Due to some of the significant options that have been observed in Uganda, it has been referred to as the most entrepreneur country that has provided much effectiveness. Additionally, it has been observed that in the increasing period, the change in the mindset has restricted the network of entrepreneurs concerning Uganda and has created a potential impact on the future of the entrepreneur business (Gutterman, 2020). Additionally, it has been observed that the community engagement managers' lack of investigation of the skills has effectively led to the entrepreneurs' understanding. It has been observed that the lack of infrastructure facilities in Uganda has created different issues. Thus the majority of the companies are continuously facing difficulty in scaling the business. Another perspective that has been observed concerning young companies is that most companies are constantly investing heavy amounts in different types of business. It has been found that young companies are always suffering as money does not perform everything. The most significant barrier to the growth of the companies is they are not strategically thinking about the waste through which they could improve the business. Diversified landscape and mixing of the business capital have been another significant issue that has created difficulty for the companies in scanning their business. Due to these considerable difficulties it has faced, the young companies are unable to move forward from their group stage. Thus, many small companies are diminishing at the initial state of the business despite investing a lot of money. Though this research will focus on the barriers in the issues faced by young companies. In recent years it has been observed that with the decrease in the rate of entrepreneurship in Uganda, the government has taken promotional schemes to increase entrepreneurs' growth and successfully raise the majority of the companies that would ultimately help increase the GDP of the country.
1.8 Structure of dissertation
Chapter 1: Introduction
This is the first chapter describing the aims and objectives of the research topic and the rationale behind choosing the topic. This chapter mainly focuses on the background of the research and proper understanding of the structure.
Chapter 2: Literature review
This chapter will describe the main reason behind the failure of the young company. This chapter will highlight an in-depth analysis of the research topic effectively.
Chapter 3: Methodology
The methodology chapter will describe the research methods, approach and strategy used in the research process. The researcher will use the chapter method to collect the data, which will be used for the research process.
Chapter 4: Research findings
It is the fourth chapter that discusses the findings and the data that has been collected effectively. Research findings will effectively discuss the findings of the research. It has been observed that this research chapter is beneficial and has provided many areas.
Chapter 5: Analysis of findings
It is the analysis of all the findings gathered from the above chapter. This chapter will focus on evaluating and understanding all the objectives and providing a clear understanding of the research topic.
Chapter 6: Conclusion and recommendation
The last chapter will describe the overall summarisation of all the chapters and will effectively recommend ways to understand all the aspects of the research process effectively.
1.9 Summary
The overall chapter has summarised some significant objectives and aims and has effectively stated that it is necessary to understand the failure of the business in Uganda. The above chapters have provided a thorough understanding of developing proper knowledge that would effectively understand the appropriate background, which has encouraged the overall effectiveness of the chapter.
2. Chapter 2: Literature Review
2.1. Overview
A literature review is considered one of the dissertation's central chapters subject to the collapse of young companies in their infancy in Uganda when it ranked as one of the leading countries' entrepreneurship. In response to considering multiple research literature and papers based on the dissertation's central topic effectively. Here the secondary purpose of this section is to create a sound margin of understanding regarding the main reason behind the collapse of young companies in Uganda when it is considered to be one of the leading countries' entrepreneurship effectively. In this consideration, it is also identified to be beneficial as in this section, a constitutional Framework followed by a literature gap will be provided that will acknowledge potential limitations in the research paper faced by the researcher in alignment with development concerning this dissertation research Global entrepreneurship assignment.
2.2. Factors behind Uganda being the highest entrepreneurship country in the world
From the reports of Acs, Szerb and Autio (2017), Uganda is considered to be ranking as one of the leading entrepreneurial countries in the world. The hierarchy has been distinguished according to various research studies on entrepreneurs per capita. This African country has made record-breaking growth based on the UK business networking group-based index. According to multiple research studies, it has been identified that women entrepreneurs' development in the country Uganda is considered to be one of the leading factors behind leading entrepreneurial countries. Multiple research studies show that the adult population percentage of owning a new business is considerably high in Uganda In response to other African countries effectively. It has been argued that Monteith and Camfield (2019), a UK-based data analysis highlighted that 4.3% of the country's adult population are considered small business entrepreneurs. In this context, it has been identified that associated new startup companies with having more control over the choice of working and no boss around the business are considered to be the central aspect of running self-businesses across the maturity of African countries. However, considerable research argues that becoming self-employed is deemed much more preferential and opportunistic to create more jobs in multiple African continents. Kato and Chiloane-Tsoka, (2022) signifies that, it is considered the main reason for Uganda being a leading entrepreneurial country. Another remarkable fact based on business entrepreneurship opportunities in Uganda is the effective commercial revolution.
Many researchers point out that economically weak and four countries, such as Uganda, where the unemployment rates are extremely high, can indirectly create an influence and motivation for starting up medium to small businesses among the majority of the Adult population in the country effectively (He, 2019). Hands it is identified to be another significant reason behind leading entrepreneurship in the country of Uganda. According to multiple research studies, it has been determined that 28.1% of the population are considered capitalising business entrepreneurs. Considerable research contributed to the fact that self-employment has been able to see much more expansion towards growth in businesses within Uganda as recently internet connectivity has been developed in remote villages of Uganda by utilising fibre optic cables. Here in this context, Tibaingana (2020) opined that, entrepreneurship theories, mainly based on Business Innovation and creativity, are considered the main factor behind the entrepreneurial growth of this country, Uganda. In this context, significant theories of entrepreneurship have been deemed to substantially impact the future management of startup companies, such as economic, psychological, sociological, and cultural theories. It is expected that control of all the mentioned theoretical expressions within the business management context is considered responsible for sustaining long-term business success growth for startup companies.
Women entrepreneurship
From research perspectives of Anyansi-Archibong (2021), it has been identified that increasing the number of entrepreneurship opportunities for women in the country of Uganda is considered to be one of the significant factors behind advances that are happening in the country's economic prospects, along with more substantial business opportunities for Women entrepreneurs in this country. It has been identified from the research of Yasar (2021), it has evaluated that women in Uganda own approximately 40% of entrepreneurship businesses; however, most of the credit from companies, as in 93% of business studies, goes to Men In response to a sobering reality. However, considerable research is given that in response to UWEAL, which refers as the Ugandan Women Entrepreneurs Association Limited, it has been identified that to mitigate gender-based discrimination and basis within business management context, the active initiative has been undertaken by private organisations effectively to keep up with women entrepreneurship in Uganda (Rashid, 2019). As a resultHigher margin of profile raises for women entrepreneurs in Uganda has been acknowledged, which is considered to be one of the more significant factors behind considering Uganda a leading entrepreneurship country by actively managing stereotypes towards male entrepreneurship activities. As a result, from the reports of Gutterman (2020), it has been identified that empowerment for men and women entrepreneurship towards successful business development processes has been created in Uganda by acknowledging Federal service support. Hence it has been identified that community support is considered to be one of the leading factors behind the growth of entrepreneurs in Uganda, as business entrepreneurship has been able to identify community gaps and also be able to translate various opportunities in the community to progress on change for the better. However, it has been argued by Yuniati, Pratikto and Sopiah, (2021), that men considerably own the majority of business industries; however, the stereotypical idea of business development is changing in Uganda with support from different public and private bodies. Under this consideration, profiling inspirational women in response to business entrepreneurs to motivate other women to become self-employed or create opportunities to run their businesses is one of Uganda's most significant successful measures to solidify the change process in the face of entrepreneurship within the African continent.
2.3. Reasons behind the small business collapse in Uganda
As opined by Namasembe and Manzanera Ruiz (2021), there are different underlying factors behind the failure of small business entrepreneurship in Uganda, even though Uganda's government is considered the land of leading entrepreneurship effectively. In Uganda, for the majority of small businesses, the effectiveness of the country's government's active intervention in response to the business survival rate Management process is considered to be one of the influential factors behind disruption in business planning and successive representation within the community to acknowledge better growth and Profitability within the business. Multiple underlying facts from the research of Asiimwe, (2018), that are considered to have an outstanding contribution to the failures of companies and entrepreneurship collapse in the country of Uganda are the government regulatory system, fragile infrastructure market, inflation problem in business cash flow management, higher cost of business capitalisation, stringent legal framework poor location sector-specific business management disabilities are considered to be radius options that have an outstanding contribution towards business failures and entrepreneurial collapse in this country Uganda In response to multiple studies and research interventions.
However, considerable research argues that to tackle all the mentioned issues causing hurdles in business survival rate in the country Uganda, possible measures of active management have been taken under consideration, such as provision towards soft loan opportunities from the government to small businesses to maintain the capital structure of the business cash flow and a higher margin of business in first structure management as well improvement towards countries specific in first structures electricity internet connectivity licence tax reduction development of road effectively (Vries, 2019). On the other hand, to address business management and entrepreneurial strategy Management processes, management training has also been taken under consideration, followed by opportunity towards credit facilities and strategy and cement for small businesses effectively. Although all these mitigation and interventions have been taken under consideration, a particularly critical factor is still identified that has caused the failure of small entrepreneurship in Uganda due to its effectiveness.
Expectation management for business
Concerning to Odongo (2018), research studies, it has been identified that a higher margin of expectations from small businesses at the very earliest of the business commencement within the operating market of Uganda is considered to be one of the leading factors behind business failures. Different Global entrepreneurship assignment reveals that the majority of small startup businesses and their entrepreneurs' short-term misleading thinking about business towards making money immediately after commencing the company is considered to be the main reason which causes disruption and network problems within organisations leading towards business closure (Iwara, 2020). For example, high-cost capital investment in business while expecting at the very beginning of business results in a massive loss in the startup business creating destruction such as failed projects and suspension of work. From the research of Namatovu et al. (2018) it has been argued that business strategy expectation management lagging in Uganda is considered the main obstacle for business entrepreneurs in this country, causing massive disturbance towards startup business success and the Expectations Management process.
Leadership
Concerning to Imran Nkun (2020), leadership is considered one of the leading factors behind an organisation's success and failure. There is no doubt that small businesses take strategic cues from people on the top level, such as leaders and managers. Leaders are the main factor behind helping organisations to overcome hurdles, along with motivation management and political hurdle reduction process resources. However, in Uganda, it has been identified that most small business entrepreneurs do not rely on leaders or high-profile management structures. It has been argued by Okoro, Achonu and Okoli (2019), that there is no such acknowledgement towards leadership authority within the business to create better organisation culture and motivation among employees to ensure success in the business startup Management process within the operating market of Uganda. It is considered to be the main factor disrupting successful business chain development and also creating unique and great employment opportunities within the country of Uganda (Turi, 2020). Multiple research highlighted that most leaders are channelling their ego into work and putting self-interest first rather than the company and its employees betterment, which is one of the main concerns behind business structural and management failures leading to overall business closure.
Complexity in proper staff selection and identification
According to multiple research studies, it has been identified that to overcome maturity of business hurdles in response to management and staff orientation process, it is essential to acknowledge the right staff for business context so that better development of business success strategy and structured management towards business successful team management can be recognised. Concerning to Kamran, et al. (2022), making successful and correct work allocation to the right people with sound experience is essential for maintaining sustained business development and growth opportunities. However, in Uganda, it has been identified that the critical selection identification and allocation process of people are not so accurate, causing a considerable loss in business.
High-cost business capitalisation
As opined by Namasembe and Manzanera Ruiz (2021), in Uganda, another essential factor that is gradually increasing challenges and obstacles for starting entrepreneurship and resulting in business closure is considered high-cost business capitalisation in terms of effectively commenting on startup companies with massive money flow. Multiple research studies have highlighted that an increased margin of business capital disrupts strategic thinking processes to create innovative opportunities for overcoming potential upstairs challenges rather than putting money into it to get issues (Hunt, 2021). Research identifies that utilising money within the business risk mitigation process only provides short-term resolution rather than a long-term strategic issue resolution through innovation and creative management opportunities. For example, fancy office decoration furnishing new business to create luxury business setup instead of working on business marketing to enhance customer base.
Mixing up businesses: side hustle
As opined by Pattanayak and Kakati (2021), one of the most significant concerns behind small business failures in Uganda is the increase of business mix-ups due to side Hustle by Business entrepreneurs to earn more money rather than giving full time to put effort into the entrepreneurship business. It has been identified that most Ugandan adults are doing side businesses while managing startup companies. Simultaneously it creates a lack of concentration and motivation for the small business and, as a result, develops different struggling elements and issues in surviving the new business effectively. Many researchers say that one of the main factors behind business lack of growth in Uganda is the Complex utilisation of money generated through the company. However, in this context, many researchers argue that Uganda's culture creates issues in business management and short-term thinking processes.
Changing mindsets
As opined by Namasembe and Manzanera Ruiz (2021), often it has been considered that to seek better success in the future for small companies, it is essential to have an excellent surrounding network of entrepreneurs effectively as it acknowledges more extraordinary achievements in the startup business management process. In Uganda, it has been identified that the possibility of having a healthy and innovative surrounding network for entrepreneurs is quite Limited in Uganda. It is considered the main factor affecting the adult population to develop new businesses under the circle of potential influence and ability to create innovative opportunities for Creative Thinking among entrepreneurs effectively (Fischer Brettel and Mauer, 2020). However, it has been identified by the majority of research studies that the rate of women entrepreneurs are getting reduce as it has seen girls are considered to be much more valuable at home rather than looking for income which is why the margin of learning opportunities and rate of dropout among girls in the country Uganda considered to be very high under the influence of conservative family who is more likely preventing girl progress towards entrepreneurship or self-employment (Kato and Chiloane-Tsoka, 2022). In this contact, disrupting community engagement is considered the main challenge in helping out the adult population of Uganda In response to the entrepreneurs' development process. Hence it is one of the main reasons behind the lack of survival rate of small businesses in Uganda.
Lack of financial discipline
Across Africa, it has been discovered that entrepreneurs across the continent, in response to accessibility towards business capital, are considered one of Uganda's most significant barriers to entrepreneurship growth. Multiple researchers identify that money and business cash flow cannot be the only driver of business growth within the operating market. There is a huge need for financial discipline to enable better growth opportunities and diversify the business landscaping process for small entrepreneurship business maintenance (Mwesigwa and Mubangizi, 2019). Financial discipline is necessary to start up with few employees within an entrepreneurship business and generate a wide margin of business planning financial literacy through strategic training within the company to expand business growth for long-term succession planning. It is essential to help the adult population with training and financial literacy opportunities to set up and eventually run their own business with strategic business planning.
However, many researchers suggest that the learning and training master be started from the school level among the adult population in business schooling and training so that new entrepreneurs can be developed radically through influential education about it (Imran Nkun, 2020). Here in this context, due to a lack of business landscaping and financial discipline in Uganda, a higher margin of business people lacks Record-Keeping business capital, mixing up processes with personal spending along with disruptive business profit management short-term thinking associated with business management effectively. All of the mentioned factors continuously damage the entrepreneurship opportunity in this country. According to multiple research studies, it has been identified that in the year 2013 global entrepreneurship monitor introduced a numerous set of entrepreneurship promotion-based schemes for young people of Uganda so that better strategy development and innovative opportunities for entrepreneurship could be acknowledged (Mwesigwa and Mubangizi, 2019). Still, more than 89% of this country's adult population are entirely aware of this and comparatively dissatisfied with business management facts. One of the vital facts that has been identified is that the majority of Uganda Entrepreneurship and different training-based programs ensure other structural Frameworks for the business support process, but rather than looking out for sustaining the business and creating various activities for better business sustainability, it focuses on earning opportunities which is one of the major underlying factors for small startup business failures in the country Uganda.
Disruptive business cash flow and informal business development
The country Uganda is identified to be filled with self-made business entrepreneurs and leaders; however, the government is not so populated with Business Centre pronunciation, which is why sustaining business entrepreneurs is essential (Kato and Chiloane-Tsoka, 2022). Most new business ventures in the African continent are identified as formal and small-scale operations. Many research studies signify that developing an informal business structure is intentional as it helps companies avoid government taxes and other illegal expenses such as registration costs. Here in this context, Tibaingana (2020) argued that, but while ignoring these expenses, a more significant margin of opportunities and Government support for organisations are also identified to be missing out by the majority of startup companies in response to acknowledging financial security and economic support from the country's government. According to the latest data analysis of the global entrepreneurship monitor, it has been identified that the growth expectation rate among Uganda's young entrepreneurs is relatively low due to a lack of innovation opportunities and new product development creativity within businesses to expand business opportunities (Pattanayak and Kakati, 2021). To ensure sustainable business expansion, a smooth cash flow is necessary but due to ensure sustainable business expansion. Still, due to the informal business structure, getting the government to support financial support such as loans is quite tricky for most startup companies in Uganda. Whereas it has been identified that due to Limited government funding opportunities, the private support sector in response to interest rates are high for different countries, which is unsuitable for startup companies to maintain effectively. As a result, a considerable margin of business sales and revenue management disruption was identified within small companies in Uganda, causing an unignorable loss in business sustained growth Management process.
2.4. Possible future business opportunities in Uganda: Potential of women entrepreneurs
Here in this context, Tibaingana (2020) opined that, to strategically cope with potential small business failures in the country, different strategic management and intervention from the government are taken under consideration to help potential women entrepreneurs in this country to help them reach their unlimited potential for setting up and running businesses on their own effectively. There is no doubt that the government has a strong culture for business entrepreneurship by acknowledging both men's and women's activities. Currently, based on different community engagement and policy influences and stereotype thinking management of the conservative Ugandan families, the active participation of female labour within entrepreneurship activity profoundly impacts the business market in this country (Mwesigwa and Mubangizi, 2019). According to multiple research studies, potential business startup opportunities created within this country are mitigation of the gender gap in capital and skill set and creating better livelihood and sex segregation within Uganda's economy to boost male female entrepreneurs. Different business training saving groups, cash grants, and community sensitisation based on various interventions have been identified to mitigate possible small-scale business and Entrepreneurship management constraint mitigation processes to strategically acknowledge better profitable business management with entrepreneurship opportunities, different economic inclusion packages, psychology-based training for entrepreneurial business management by focusing on innovation business persistence and traditional business training reactiveness effectively (Imran Nkun, 2020). Additional opportunities for technical skills enhancement, financial investment, productive infrastructure development, and socio-emotional and business digital skills development process through various professional networks are also taken under consideration within Uganda to ensure a better approach to entrepreneurship development.
2.5. Conceptual map
2.6. Literature gap
In response to this dissertation research Global entrepreneurship assignment subject to the collapse of young companies in their infancy in Uganda when it ranked as one of the leading countries' entrepreneurship, different challenges are considered to be described by the researcher. According to the researcher, business industries' specific constraints and obstacles for startup businesses have not been described adequately in this section. This context has not addressed industry-specific growth such as Uganda's fish farming, retail, and agricultural industries towards entrepreneurship businesses. After sustained understanding of all the literature gaps, it has been identified that the researcher has exclusively tried to develop specific theories to theoretically acknowledge potential investigation according to this research topic effectively for a better understanding of central problem statements.
2.7. Summary
The above chapter of the literature review discusses the main underlying facts behind considering Uganda as a leading entrepreneurship country, such as it has been identified that women entrepreneurs' development in Uganda is regarded as one of the top factors behind leading entrepreneurial countries. Another remarkable fact based on business entrepreneurship opportunities in Uganda is the effective commercial revolution. Multiple underlying factors that are considered to have an outstanding contribution to the failures of companies and entrepreneurship collapse in the country of Uganda are the government regulatory system, very weak infrastructure market, higher cost of business capitalisation, inflation problem in business cash flow management, stringent legal framework, poor location sector-specific business management disabilities.
Chapter 3: Research Methodology
3.1. Overview
This research methodology chapter will highlight potential research methods followed by the researcher throughout this dissertation to obtain quality information and positive outcome concerning the research presentation problem statement in alignment with developed objectives effectively (Rinjit, 2020). To critically identify the collapse of young companies in their infancy in Uganda when it ranked as one of the leading countries' entrepreneurships, it is considered to be highly essential to work on research comprehensive method to follow a structured manner of research Global entrepreneurship assignment by taking under consideration research philosophy research adopted design specific approach Data Collection method followed by analysis process. Hence, the researcher will acknowledge this chapter's overall structured investigation process.
3.2. Research Philosophy
To strategically maintain research efficiency and accuracy, principal management is essential, which is the main contribution of research philosophy. In this research, positivismresearch philosophy has been undertaken by the researcherto acknowledge better understanding and conceptual understanding of the research dissertation. Theresearch mainly subjects to thecollapse of young companies in their infancy in Uganda when it ranked as one of the leading countries' entrepreneurships (Mishra and Alok, 2022). The main justification behind choosing positivism research philosophy by the researcher is considered to be the proper understanding of the Central research topic in an objectified way rather than just focusing on environmental facts by keeping separate human influences. It is quite justified that its people and entrepreneurs influence entrepreneurship businesses in the country (Snyder, 2019). Therefore, consequences and perceptions of the human individual are profound in this context. This factor highlights on the selection of Positivism research philosophy quite suitable for the researcher and this research dissertation Global entrepreneurship assignment prospect.
3.3. Research Approach
The researcher had undertaken adeductive research approach in response to this dissertation research Global entrepreneurship assignment concerning the collapse of young companies in their infancy in Uganda when it ranked as one of the leading countries' entrepreneurships (Cr, 2020). The deductive based research approaches are been chosen in order to make the researcher sound several observations in alignment with this research statements based on the problems by underlining several conceptual linings and the theoretical underpinning around it. This theoretical underpinnings are evaluated such as entrepreneurship theory associated with small businesses within the country setting of Uganda that performs an essential factor behind the business success or failure in this country (Al-Ababneh, 2020). This selected deductive research approach has been able to provide the researcher generalised identification of the leading reason behind the failure of entrepreneurial companies within the country you are in, even though this country is culturally strong towards entrepreneurship landscape development process with the help of different theories.
3.4. Research Design
Making sound understanding of the research method that is going to be followed by the researcher throughout the dissertation research Global entrepreneurship assignment process about identifying the reason behind the collapse of young companies in their infancy in Uganda when it ranked as one of the leading countries' entrepreneurships identify with being highly crucial to the researcher to maintain suitability accuracy and efficiency (Newman and Gough, 2020). Descriptive Research Design has been selected by the researcher concerned to investigate the reason behind young companies' collapse in their infancy in Uganda, even though it is ranked one of the leading countries in entrepreneurship (Nayak and Singh, 2021). Descriptive Research Design can allow researchers to diversify the research context with sound observation and critical analysis of different context areas so that a better understanding of research problem statements followed by justification for each objective developed can be processed thoroughly.
3.5. Research data collection
The data collection process is considered highly essential within every research Global entrepreneurship assignment process; hence in this context, the researcher has implemented a secondary data collection method based on quantitative research strategies (Patel and Patel, 2019). Here in this context, the data has been collected through the secondary data collection method under which the data analysis method has been taken under consideration to strategically complete this data collection process for successful investigation of the reason behind the collapse of young companies in their infancy in Uganda when it ranked as one of the leading countries' entrepreneurships. Here in this context, an online data analysis will be conducted for start-up companies in Uganda to effectively get valid input about the research's central problem statement.The main data collection sources for secondary information were scholarly websites and search webs, Google Scholar, ProQuest, Emerald, Elsevier, Research Gate, Springer as reliable information source priority. Other than that, valid and authentic information websites such as BBC, The Guardian, Financial Times, Reuters, and Forbes were accessed.
3.6. Validity and Reliability
In response to the secondary data collection method implemented by the researcher. The validity and the reliability of the method have been implemented in order to determine the effectiveness of the Global entrepreneurship assignment. Several opportunities in Uganda due to which the majority of the companies tried to build their business in the country, in the recent period thai highlights on the specific constraints and obstacles for start-up businesses that have been described adequately in this section. These factors highlight on the reliability of the Global entrepreneurship assignment while indicating on the validity of the data collected from the several articles and the journals. The data that have been collected are based on the secondaryquantitative data that have been considered for the articles that are most present that is after 2018 to 2022. The articles before this year have not been considered that indicates on the reliability of the data collected and its validity to identify the reason behind the collapse of young companies in Uganda. Moreover, the data collected are scrutinized by the researcher that also indicated on the reliability of the data based on the effectiveness of the research.
3.7. Research data analysis
After the successful commencement of the secondaryquantitative data collection process, thematic analysismethod has been chosen to derive analysed the data from the collectedinformation through the online journal and article-baseddata analysis process (Babii, 2020). “Secondary data analysis”, in contrast to other analytical frameworks, analyses data priorly collected or analysed by a different researcher, disciplines, or organisation. It also accounts for data information from reliable sources even if their initial utility does not form any relevance to the latter Global entrepreneurship assignment. The Global entrepreneurship assignment incorporated this analysis by first developing a research topic, proceeding with location and collection reliable and informative data, and proceeding with applying thematic analysis as the mode of subjective analysis. therefore, the Global entrepreneurship assignment induced of an objective and subjective approach, providing a critical and comprehensive topic understanding.It can provide the researcher with better outcomes towards research objectives effectively so that based on identified results, practical recommendations can be made concerning this reservation research Global entrepreneurship assignment about the reason behind the collapse of young companies in their infancy in Uganda when it ranked as one of the leading countries' entrepreneurships.
3.8. Ethical Measures
Conducting a dissertation research Global entrepreneurship assignment by taking ethical consideration guidelines to maintain research dissertation integrity, accuracy and efficiency is considered the foremost responsibility of the researcher (Mohajan, 2018). In this context, to maintain all the ethical measures throughout the dissertation research, the researcher has effectively considered Data Collection confidentiality and information sharing security measures by supporting the Data Protection Act 2018 principal guidelines. All the collected information and analysed data are stored in a password-protected folder to maintain a high level of security and prevent unauthorised access to the report (Melnikovas, 2018).
3.9. Limitations
Financial opportunities management and time management are considered to be one of the most critical limitations identified by the researcher, followed by security management in the area of the Information sharing process through the data analysis process. These are the main limitations specified by the researcher, which had caused a proper amount of delay for this entire dissertation concerning the investigation of the collapse of young companies in their infancy in Uganda when it ranked as one of the leading countries' entrepreneurship.
3.10. Summary
From this entire research methodology chapter, it has been identified that the researcher had undertaken interpretivism research philosophy to acknowledge better understanding and conceptual understanding of the research dissertation Global entrepreneurship assignment subject to the collapse of young companies in their infancy in Uganda when it ranked as one of the leading countries' entrepreneurship. The researcher had undertaken adeductiveresearch approach and Descriptive Research Design, which could allow researchers to diversify the research context with sound observation and critical analysis of different areas of context so that a better understanding of research problem statements followed by justification for each and every objective developed can be processed thoroughly. Hence in this context, the researcher has implemented a secondary data collection method based on quantitative research strategies with the help of adata analysis method.
Chapter 4: Research on findings
4.1 Overview
It is one of the vital chapters of the research process that includes the overall result gathered from the secondary data collection. The chapter will analyse a thematic analysis based on the detailed objectives in order to identify the reason behind the collapse of young companies in Uganda on the year that has been circulated to all the start-up companies' associates. Additionally, the main focus of this chapter is to evaluate all the results and implement the proper effectiveness of the research. Proper understanding of the result section helps to understand the main objective and the aim of the research process that would effectively increase the overall process of the research.
4.2 Thematic analysis
4.2.1 Theme1:Inflation and inadequate capital causing Ugandan young company collapse
The rise of entrepreneurs in recent years has led to incorporating of several companies in Uganda, implementing effective business growth in the country. As highlighted, nearly 28% of the young Ugandan generation are considered adults, which indicates Ugandan business growth. As highlighted, many public-private bodies have been enacted that supported the Ugandan country with the help of various support, which has helped many companies to foster their growth in the market of Uganda. The poor management leads to the main reason being the collapse of young companies in Uganda (Young, 2019). The poor management in the Ugandan companies has been indicted as the young generation taking over the big companies. The challenges or barriers are indicated as poor cash flow-based management, losing control related to the finances, lack of strategy that leads to bad planningand weak leadership, which indicates the significant reasons behind the collapse of young companies in Uganda. For this reason, the inexperienced management team has been highlighted as one of the primary reasons companies fail in their managerial planning and effectiveness. Underestimating the importance of cash flow leads to another significant issue for Ugandan companies to flourish properly (Nakirijjaet al., 2020). The cash flow problem in the company leads to the loss iof productivity, thereby hampering the company's profitability. On the other hand, the lack of profitability indicates the effectiveness of determining the overall company's growth in the Ugandan market. The lack of experience also leads to the evaluation of poor management in the companies by indicating the productivity of the companies in Uganda. Poor management also leads to specific challenges that the companies are facing.The young organisation and management also identify the lack of focus or proper management in the company that indicates the effectiveness of the company.
Figure 4.1: Extensive investiemet in Uganda causing smaller factories to collapse
(Sourse: Nakirijjaet al., 2020)
The poor economic condition based on the weak leadership indicates the overall profitability of the companies of Uganda. The profitability mainly highlights the increasing productivity of the companies, thereby indicating the company's overall management. Moreover, with the changing dimension and the business climate, most of the businesses have found to be challenging to survive in the Uganda climate. This also indicates the primary reason behind the collapse of young companies in Uganda (Langevang&Namatovu, 2019). The diversified landscape and the increasing demand for the mixing of business capital have been highlighted in the overall difficulties that have been faced by the Ugandan company. Inadequate capital due to the loss in productivity leads to another significant problem related to the corruption in the Ugandan companies leading to their collision. Therefore the inflation and inadequate capital caused young Ugandan companies to collapse in recent years.
4.2.2 Theme 2: High Capital cost and Ugandan cash flow restrictions as collapse drivers
In Uganda, the majority of the small businesses have been affected based on the government's active intervention in the Uganda country in response to the overall survival rate of the business. This has been highlighted as one of the major influential factors regarding the disruption of the planning related to business as well as the representation of better growth and popularity. The business failures are indicated as poor communications and the determination of the general information in the Ugandan countryside. As highlighted, the high capital cost also leads to a significant problem and the collapsed driver in the determination of the Ugandan young and small company collapse. Moreover, the non-analysis of the competitors also led to the determination of the effectiveness of the capital related to the company’s overall growth (Barford et al., 2021). The lack of Uniqueness leads the company to highlight that the Ugandan cash flow restrictions majorly affect the company. This managerial imbalance in economics leads to one of the significant factors that highlight the survival rate of the company towards successive representation within the community. The growth of a company mainly depends on its financial structure of the company. This financial structure mainly depends on the investment of the suppliers as well as the effectiveness of the determination of stakeholders' contribution toward the business's success. Being smaller organisations, the stakeholders are very much limited towards the overall economic balance of the young companies (Nandonde, 2020). This factor hampers the overall productivity of the companies highlighting the economic instability.
Figure 4.2: High Capital cost and Ugandan cash flow graph
(Sourse: Langevang&Namatovu, 2019)
The above graph indicates on the high cash flow restrictions in Uganda while highlighting on the high capital cost of the country.This is considered the foremost challenge and the increasing obstacle to starting entrepreneurship in Uganda.Fragile infrastructure in the summer companies of Uganda leads to significant problems of the economic disbalance in companies. This factor leads to a major problem in the overall effectiveness of the companies in Uganda. The poor management leads to the main reason being the collapse of young companies in Uganda (Mwesigyeet al., 2021). The poor management in the Ugandan companies has been indicted as the young generation taking over the big companies. Poorer management also highlights the higher capital cost of the business establishment, which indicates the central disturbance in the small business establishment.This results in business closure and disturbances in innovative ideas. A lack of proper strategy often leads to the effective use of capital in business development, leading to a significant problem in the overall business. This highlights the disturbance of innovative ideas as the money needed to put the idea into implementation is not met. On the other hand, the determination of the business risk related to the mitigation process based on Ugandan cash flow restrictions impacts majorly on the overall business growth. This is the primary reason for the overall smaller business to collapse in Uganda.
Moreover, the changing mindsets of the young entrepreneurs also highlight the significant problem related to the collapse of the Ugandan leading smaller companies. Often it has been identified that seeking better success leads to a significant problem in the business development process that potentially influences adults to not rely on smaller companies(Mwesigyeet al., 2021). Also, the lack of good reputation of the companies, the people and the banks does not make the smaller companies reliable. This leads to a higher capital loss in the company while indicating the overall loss of the company (). All these factors lead the Ugandan smaller and young companies to fail. Lack of financial discipline also highlights the overall Ugandan cash flow restrictions as collapse drivers, leading the smaller companies to fail in Uganda.
4.2.3 Theme 3: Governmental support and market patronage inadequacy as Ugandan start-up barriers
The current Ugandan government’s intervention solutions for business survival enhancement are relatively new, with strategy majorities still under process. Gearing up for a complete economic reopening, the Ugandan “Federation of Small and Medium Sized Enterprises (FSMEs)” proposed governmental efforts in business cost reduction by 2022 (Matovu, 2021). Kato and Chiloane-Phetla (2021) opine that the Ugandan government lacks “defined tracking” essentiated for “venture capital (VC)” deals, discarding any legal support grant for driving VC fundraising. Essential for young companies, the VC market investment by the 2019 African government was marked at US$1.34 billion, matching the 2018 fund of US$725.6 million. The Uganda government is responsible for innovative process accommodation, further ensuring law protection and reducing business collapses (UNCDF, 2021). Young companies face extreme difficulty and resistance in raising money in this country, with the active government schemes not adequately sufficing survival needs. An incentive system has the potential to reduce start-up fails, with the “Ministry of Science, Technology and Innovation (MoSTI)” hiring an experienced consultancy firm to guide Ugandan financially backed start-ups with investment identification and grant providence.
Figure 4.3: Changing economical look of Uganda
(Source: imf, 2022)
The “global inflation surge” is impacting the Ugandan economy with extensive pressure, the inflation rate going up to 6.3% in the 2022 y-o-y, denoting a 5-year high. Studies reveal that “lack of market patronage” is a subsequent limiter that incurs dysfunctional financing mechanisms and start-up growth strategies. Balunywaet al. (2020) reported that young companies often fail due to a lack of dynamic presentation or brand image development to gain “supply-line (capital)” markets, stressing firm resource configuration and routine identification. Market patronage issue stems from dynamic organisational capabilities for “product and service” providing essentially to the income distribution’s lower strata. According to Geginatet al. (2022), “low resource mobilisation” is a consequential limitation hindering Uganda’s investment ability in “infrastructure and human capital”, with the country’s average GDP at 11.6% (5 years consistency). A “BTI Transformation Index” (2022) revealed the Ugandan government to resemble a bloated administration, comprising costly “patronage and corruption” systems and policy implementation inconsistency, disbalancing the comparatively more established business economy expectancies. Incentives directed toward foreign investors, according to some Ugandan businesspeople, make it difficult for locals to compete. Although there are restrictions on investment and obstacles to entry and leave, overall, there is no denotation of significant impacts on the market (Claessenset al., 2018). There are no prohibitions on the transfer of technology or the repatriation of cash by foreign investors. There are tax exemptions as incentives to encourage FDI in the business climate. Comparatively, it also specifies performance standards that are exclusive to the industry. In terms of how easy it is to conduct business; Uganda continues to rank poorly. In Kenya and Rwanda, two adjacent countries, there are just “five and seven procedures”, respectively. However, the average number of procedure numbers needed for a firm start-up is still high at 13 (BTI Transformation Index, 2022). In addition, it takes 24 days on average to establish a firm, with expenditures scoring 40.5 out of 100.
4.2.4 Theme 4: Ugandan Stringent legal framework – Start-up growth limiter
A number of public-private organisations have been established to support the government of Uganda with a variety of aid, which has enabled a number of businesses to promote their expansion in the Ugandan market. Poor cash circulation management, a loss of financial control, a lack of planning that results in poor planning, and inadequate leadership are the problems or hurdles that are mentioned, and these are the leading causes of the failure of new businesses in Uganda (Omona and Romaniuk, 2021). On the other side, the “lack of profitability” demonstrates how well the company’s overall development in the Ugandan market may be predicted. The firm’s performance is also shown by the youthful organisation and management identifying a lack of focus or competent management in the company.
Poor communication and the inability to determine general information in rural Uganda are cited as causes of company failures. In addition to the issues already mentioned, the high capital costs are a significant factor in the failure of fledgling and small businesses in Uganda (Chen et al., 2022). This financial structure mostly depends just on the investment made by the suppliers as well as how thoroughly stakeholders are identified and their contributions to the success of the business are determined. Because they are smaller companies, the stakeholders have relatively little influence over the overall financial health of emerging businesses. On account of Ugandan cash flow constraints, determining the business risk connected to the mitigation procedure has a significant influence on total business growth. This is the main factor that caused Uganda’s small business sector to collapse.
Figure 4.4: Problems faced by a start-up
(Source:Self-Developed)
Smaller businesses are not trustworthy because of the poor reputations of firms, individuals, and banks (HewaWellalageet al., 2020). This increases the company’s capital loss while also highlighting the total loss of the business. Uganda’s rigid regulatory structure further highlights overall Ugandan working capital constraints as collapse factors, contributing to the failure of smaller enterprises in Uganda. The main reason why Uganda’s market has been consistently impacted and why it is difficult for new company owners to succeed in their endeavours is because of insufficient government backing. The notion of entrepreneurship and the declining number of new firms in Uganda provides a challenge for women who want to create their own businesses (Monteith and Camfield, 2019). However, this change is dwindling owing to complicated social pressures and family obligations brought on by Uganda’s conservative character.
It has been successfully noticed that since the majority of new businesses require a thorough grasp of the network, it is crucial that the firm use the right tools and technologies in order to analyse and establish a strong business. Additionally, it notes how, over time, improved management and service prospects for small firms are becoming much more difficult owing to coding infrastructure. This has an impact on the company’s survival and led to the creation of this choice in the business survival factor (Aburumman, 2020). According to this statement from the Global entrepreneurship assignment findings, it has been determined that complicated leadership makes it challenging for small businesses to manage personnel and inspire them to take on the new responsibilities of the firm.
4.2.5 Theme 5: Design thinking and opportunity recognition for Ugandan start-up business gain
The country's potential, Uganda, is very low for small businesses (Sebikari, 2019). The government takes various initiatives to develop the business infrastructure to secure the young people's future in Uganda. The females of the country are encouraged to develop their potential to play a role as an entrepreneur. The strong culture of the government significantly impacts business entrepreneurship. No industry-wise restrictions are available in the Uganda business market. Open innovation and investment opportunities are available in Uganda. The investors and the entrepreneurs do not have to face a large number of restrictions in Uganda (Bischoff et al., 2020). The government introduces different revised laws to provide opportunities to grow. Uganda's free market and youthful population indicate the scope of getting skilled and knowledgeable labours. Through training, entrepreneurs can develop the country's young people and make them effective in business. The growth of the different industries in Uganda is increasing, emphasising the scope of starting a business in the different sectors (Behuria, 2021). The agricultural industry increased by 24.2%, the industry developed by 25.5%, and the country's service sector enhanced by 50.3%. The key growth of the sector and services in the telecommunication, tourism and technology sector is growing rapidly in Uganda. The oil, mining, gas, construction and infrastructure industry is growing rapidly in the service sector. The country's natural resources indicate the scope for utilising natural resources for business development. Significant oil reserves are available in Uganda, which is 6.5 billion barrels (Cannon and Mogaka, 2022). The rate of the business report for doing business in Uganda was 127 out of 190 per the competitiveness index 2018. The stable regulatory environment of Uganda is very effective for business start-ups. Uganda investment authority takes deliberate actions the develop the microenvironment of doing business in Uganda. The registration process is also shifted towards easy access to the registration so that the business persons do not wait for a long time to start a business in Uganda.
Figure 4.3: Business opportunity for start-ups in Uganda
(Source: newclimateeconomy, 2016)
The electronic submission of business documents is also available in Uganda, which supports the paperless facility and is less time-consuming (Kumar et al., 2021). The exchange of information regarding the trade also becomes easy in Uganda. An automated system regarding the customer’s data is also available that helps manage the customers. The government also gets the data from the portal regarding the demand for the products in Uganda. This system effectively reduces the cost of doing business in Uganda. The electronic facility available in Uganda allows borrowers to leverage movable property regarding growth and investment. All types of business opportunities are trying to be provided by the government. The choice of investment enhancing through which the invest investors large scope of the investment in Uganda with the help of the government, large organisations and expands the business in Uganda (Probst et al., 2021). The scope of the circular economy is high if the organisation can provide the proper employment opportunity to the youth population of Uganda.
4.2.6 Theme 6: Ugandan government schemes for young company initiation and capital investment
Uganda is overpopulated with self-made organisational leaders, and the number of young entrepreneurs is low (Davis, 2019). The government takes initiatives to save and encourage business in Uganda. The government introduced the Uganda agricultural investment scheme in the financial year 2016-17. This scheme helps the farmers reduce the risk associated with agriculture, such as losses due to natural disasters and other issues in the agricultural sector. From this scheme, the farmers also can apply for the funds for developing agriculture or doing agriculture. Agricultural insurance initiates get the insurance of the crops if any issues or natural calamities and the live stocks are taken place and the farmers face losses (Jha et al., 2021). The governments collaborate with large organisations to provide training to the employees and understand the steps that the farmers will take if any issues occur in the agricultural field.
The microfinance regulatory authority of Uganda was created under the “tiers 4 of the microfinance institution and money lender act, 2016”. This authority encourages investors and enhances consumer confidence in the microfinance industry. For enhancing financial inclusion. “The Financial Institutions (Agent banking) Regulations, 2017” issues a guide regarding implementing the different strategies that help develop the financial issues for doing business in Uganda. The government also promotes several incentive schemes in Uganda. It enhances the national and global investment opportunities for businesses in Uganda. The banks of Uganda ate provided a licencing facility that gives assurance of payments to the banks if any of the borrowers under the government scheme fail to give the money back. The insurance regulatory authority of Uganda issues the Bancassurance (Agbo and Nwankwo, 2020). Several licences are given to commercial banks so they can give easy loans to small and medium sizes business entrepreneurs, farmers and the industrialised without any hesitation. The government assures the payments of the due amount to the bank. The contribution of the government to the AML/CFT regime is undeniable. This addresses the strategic deficiency in anti-money laundering. In the financial year 2017-18, the government made a grey list, which helped to reduce the strategic deficiency in anti-money laundering in Uganda. The development of the financing activity is necessary for implementing Uganda. Through the development bank, the government provides easy access to financing that helps enhance the development's scope. All the schemes started by the government are very effective in doing business in Uganda.
4.3 Findings
From the above data analysis section, it could be effectively found that Uganda is one of the most entrepreneur opportunity countries that have provided many opportunities to new entrepreneurs to establish a business (Asiimwe, 2018). Some of Uganda's options for new business concern new employment opportunities. Support from the private organisation has continuously helped the latest company establish itself in the Uganda market (Mahajan and Bandyopadhyay, 2021). It has been effectively observed that the political instability and other infrastructure and distraction in Uganda have posed a significant threat to the new business established in the market (Odongo, 2018). Inappropriate support from the government has been the primary cause that has continuously affected the market of Uganda and created an issue for new entrepreneurs to thrive in the business. It has been effectively acknowledged from the above data analysis that it becomes difficult for the new entrepreneurs to understand and evaluate the company without the practical support of the government and to develop proper technology that ultimately affects the overall feature of the business effectively (Iwara, 2020). Additionally, the company has not addressed the various sustainable factors that could have effectively helped the business in its sustainability.
4.4 Summary
From the above chapter, it could be effectively described that some of the significant results have been continuously impacting the overall survival of the new business in Uganda. Infrastructure facilities and lack of support from the government have been the crucial aspects that have affected the growth of new entrepreneurs in the industry. The majority of the business field is in its infant stage due to the proper cash flow in the market of Uganda.
Chapter 5: Analysis of the findings
5.1. Overview
In response to this discussion chapter of the entire dissertation research Global entrepreneurship assignment, potential learning and understanding from the results and findings are going to be taken under consideration concerning the dissertation research about the collapse of young companies in their infancy in Uganda when it ranked as one of the leading countries' entrepreneurship (Monteith and Camfield, 2019). This chapter of the entire dissertation discussion is considered one of the essential chapters throughout this dissertation research as it provides a better understanding of any valuation of the positive research outcome and problem statement critically valuation in alignment with developed aims and objectives. Re-assessment process effectively. Therefore, in this chapter, an evaluation of finding in a much more discussed manner has been provided by the research, followed by an assessment of research questions about research findings and literature are also considered to be evaluated to make proper justice about the entire research's ability to meet up with its objectives.
5.2. Evaluation of Findings
5.2.1 Description of methodology
From the methodology section that has been highlighted in the above part it can be ascertain that secondary based methodology have been taken for the effective evaluation of the research process. Positivism research philosophy and descriptive research design has been utilised effectively that are mainly related to the understanding of the effective themes that are mainly in regards to the understanding of research topic.
5.2.2 Unanticipated findings
This area of the discussion chapter have effectively evaluated about the unanticipated findings that have been derived from the above data analysis as well as from the result section. According to the young company’s failure in Uganda some of the areas that has been addressed by developing various dimension.
Interpretation for behind young companies' failures in Uganda
From the research finding section, it has been identified that poor infrastructure in Uganda is continuously creating pressure for the business to develop new start-ups. It is believed that many companies have left the country due to the lack of unavailability of the proper structure that are necessary for the effective understanding and evaluation of the company’s failure in Uganda. It is interpreted that due to the lack of proper electricity and technology it has been crucial for the companies to start their business effectively.It is an unexpected findings that have carried the barriers and the challenges which young companies faced during the establishment of the business in Uganda.It has been effectively observed that since most startup business requires a proper understanding of the infrastructure, it is essential that the company can't evaluate and develop a strong business without the appropriate usage of the tools and technologies (Kato and Chiloane-Tsoka, 2022). Here in this context, it can be assessed further that Limited Government support and public body support towards invasion and new management opportunity development such as Technology contribution within businesses are quite Limited for informal companies in Uganda. It also identifies that due to code infrastructure, better management and service opportunities for small businesses are becoming much more challenging over time, affecting the company's sustainability and creating this option in business survival factor (He, 2019). In response to the learning from research findings about business macro and micro environment suitability and appropriateness for Uganda entrepreneurship businesses, it has been evaluated that continuous political disturbance has affected the growth of the industry in Uganda. Hence from this learning, it is quite evident that due to constant pressure from political parties within this country, small, scale businesses are facing considerable obstacles in the business management process and different funding opportunity creation processes effectively.One of the possible significance of the failure of the companies is the unstable political condition that are being observed in Uganda and the failure of the government to provide ample of support in respect to tech savvy feature.
It also signifies to be disrupting the strategic competitiveness of young companies within the country of Uganda. Management and leadership are considered to be one of the most significant factors behind business success factors (Tibaingana, 2020). Based on this fact from the research finding, it has been identified that with complex leadership, it becomes difficult for the small business to handle employees and motivate them toward the new challenges of the business. From this, it can be evaluated that in response to Complex leadership approaches, disruption in business management skills, people management motivation, critical thinking, innovation and long-term success opportunity creation become much more challenging for small companies in Uganda (Anyansi-Archibong, 2021). From the research findings, it has been identified that the impact of short-term planning has been continuously hampering the overall processing of small businesses in Uganda and in addition to that, other concerning factors are determined to be a lack of diversified business landscaping, which is another leading issue behind the collapse of new business in Uganda.
Uganda is a developing country and has various political commotion that creates continuous stability in the country (Yasar, 2021). From the research data analysis-based findings, it has been identified that political instability is one of the significant threats to new entrepreneurs in Uganda. It has been effectively evaluated that since Uganda is a developing country, many parties have been exerting much more pressure on the company, which is the secondary factor that leads to the effective growth of the business (Rashid, 2019). Due to the political instability in Uganda, the majority of the entrepreneurs have agreed that they are not being able to develop their business correctly. As a result of this sustainability and survival factor of young companies in Uganda keeps deteriorating (Gutterman, 2020). From the research findings context, it has been evaluated that the majority of startup companies in the country Uganda are not getting enough support from the government, which leads to a decline in business opportunities and management conditions to generate more revenue for the company to become stable in the operating market. The inappropriate association of competitiveness in the market has already provided much more issues for the company to understand and evaluate its existence (Yuniati, Pratikto and Sopiah, 2021). Government support not only encourages the new entrepreneurs to crap the market but also provides much security. From this, it can be assessed that with Limited Government support, the opportunities are also considered to be getting Limited for small-scale startup companies and creating substantial security, service, and profitability concerns within the business.
Survival business opportunities in Uganda
From findings, it has been evaluated that since most new entrepreneurs get the scope to establish and develop their creativity and innovativeness in the country, it becomes very attractive for many startup businesses to develop their business in Uganda. Since many entrepreneurs get much support from private organisations, it becomes easier for them to grow the business along with much security from the other external factors. Hence public-private body support for young companies in Uganda is relatively more opportunistic and effectively benefits small companies' survival (Namasembe and Manzanera Ruiz, 2021). It is interpreted that survival chances of companies is very low but if the growing opportunity towards sustainability can be maintained then Uganda can be a productive country where most of the young companies can develop their market effectively. New skills needs to be trained for the development and encouragement of creativity and innovative skills in the organisation.Sustainability is the major survival factor which every company requires. A sustainable approach is necessary for every company to adopt a source to survive in the future, so it is necessary that all the companies should strategically develop their business in Uganda. In this contact, it can be evaluated that businesses' corporate social responsibilities have an outstanding contribution towards technology in better business sustainability and survival factor management within the operating market of Uganda (Asiimwe, 2018). Security is considered to be one of the major underlying factors for acknowledging business opportunities for the majority of entrepreneurs within the country of Uganda. Based on research findings, it has been identified that business training is very important for entrepreneurs to exist in the Uganda market. In addition, financial literacy has been another requirement for the new companies in Uganda to overcome the significant promotional issue, which would help the company to understand the SMEs and evaluate it effectively in the market of Uganda.
Figure 5.2: Future business growth and opportunity in Uganda
(Source: Statista, 2022)
Additionally, other programs that have been suggested are business management education and leadership programs, which can also be used by small SMS to establish their business effectively in the Uganda market (Vries, 2019). The increase in the number of successful entrepreneurship businesses in Uganda is considered to create much emphasis on the national income of Africa effectively, and it would increase the overall effectiveness of the business (Odongo, 2018). It also signifies the fact that with a substantial margin of entrepreneurship opportunities within the country of Uganda, greater market opportunity and economic scale rate in African continents based on GDP can be acknowledged effectively, which will further create a waste of opportunity for new entrepreneurs in the area of funding opportunities innovation vital in first structure modernisation (Iwara, 2020). Overall it is still can be evaluated that by adopting possible management intervention and problem-solving strategies adopted within the business market of Uganda better opportunity to make a profit for a new startup company can be created by leveraging the strong culture of the community of Uganda effectively as their our multiple opportunities within self-employment and Entrepreneurship are there in this country such as in the area of fish farming industry food processing industry coffee businesses and also beverage and alcohol businesses effectively.
Business entrepreneurial opportunities within Uganda
From the findings, it is found that the Governmental support and market patronage inadequacy as Ugandan start-up barriers. But a large scope of doing business in Uganda is available. Here In response to the results and finding aspect, it has been identified that approximately the majority of females taken under consideration in the data analysis process seem to be much more interested in entrepreneurship within the country of Uganda than men. Hence, it can be evaluated that women are much more interested in entrepreneurship, and Uganda's government must promote it (Acs, Szerb and Autio, 2017). Since Uganda has been untapped by many companies so there is a growing opportunities for other business to establish its market in this country. If the city develop more strong economy with the help of the new companies then business entrepreneurial opportunities will increase significantly. It was ansignificant finding that have been further analysed in this dissertation. It further assessed that the potential for women's entrepreneurship is much more within the country context of Uganda rather than in the male-dominated sector of business. The idea about Entrepreneurship and the decreasing rate of new startup businesses in Uganda confront the opportunity for women entrepreneurship keeps decreasing due to the complexity of community and family pressure due to stereotyping and conservative nature.
Figure 5.2: Conditions of Ugandan entrepreneurial framework
(Source: Global Entrepreneurship Monitor, 2022)
This section more effectively states that managers are the entrepreneurs of start-up companies nearly between the age group of 48 and 59 who have much experience in the reason behind the failure of the startup business (Monteith and Camfield, 2019). This area signifies that prior knowledge of the adult population within Uganda keeps shrinking over time due to short-term business thinking and lack of opportunity for management and business skill development process among the young population in Uganda. In response to the online data analysis finding point of view, it has been identified that most people have agreed that earlier, Uganda was known for the opportunities it provides to entrepreneurs, so it is considered the leading entrepreneur country all across Africa. One of the most concerning reasons for the higher margin of attraction to this country, Uganda is regarded as a strong community culture resulting in enough opportunity for new business entrepreneurs' development process.
5.3. Re-assessment of Research Questions about research findings and literature
In response to the fundamental research questions, it has been identified that the main reason behind the collapse of young companies in Uganda is considered to be evaluated from the findings that poor infrastructure in Uganda is continuously creating pressure on the business. In addition, limited government support and public body support towards innovation and new management opportunity development such as Technology contribution within industries are quite Limited for informal businesses in Uganda (Namatovu et al., 2018). From the literature, it has been identified that government regulatory system, very weak infrastructure market, inflation problem in business cash flow management, higher cost of business capitalisation, stringent legal framework, poor location sector-specific business management disabilities are considered to be various options that have an outstanding contribution towards business failures and entrepreneurial collapse in this country Uganda In response to multiple studies and research interventions.
A higher margin of expectations from small businesses at the very earliest of the business commencement within the operating market of Uganda is considered to be one of the leading factors behind business failures (Imran Nkun, 2020). Therefore business strategy expectation management lagging in Uganda is regarded as the main obstacle for business entrepreneurs in this country, causing massive disturbance towards startup business success and the Expectations Management process. Here, in addition to that, leadership is another secondary concern identified that is imposing challenges and causing the collapse of SMEs in Uganda. From this, it can be evaluated (Okoro, Achonu and Okoli, 2019). Leaders are the main factor behind helping organisations to overcome hurdles, along with motivation management and political hurdle reduction process resources. Most leaders are channelling their ego into work and putting self-interest first rather than the company and its employee's betterment. This is one of the main concerns behind business structural and management failures leading to overall business closure (Turi, 2020). In addition to that, from the literature aspects, it has been assessed that it is essential to acknowledge the right staff for business context so that better development of business success strategy and structured management towards successful team management can be acknowledged. Inadequate staff management is one of the significant concerns causing failure in businesses.
An increased margin of business capital disrupts strategic thinking processes to create innovative opportunities for overcoming potential upstairs challenges rather than putting money into it to get issues (Kamran et al., 2022). It also signifies that due to a lack of financial discipline, the possibilities of challenging business survival factors keep getting enhanced over time in Uganda. Utilising money within the business risk mitigation process only provides short-term rather than long-term strategic issue resolution through innovation and creative management opportunities. For example, fancy office decoration furnishing new business to create luxury business setup instead of working on business marketing to enhance customer base (Hunt, 2021). In response to findings and research literature, it has been identified that short-term thinking, in addition to changing the mindset of the entrepreneurs, is considered to be one of the significant factors behind small new business failures. The main factor affecting the adult population to develop new businesses under the circle of potential influence and the ability to effectively create innovative opportunities for Creative Thinking among entrepreneurs (Pattanayak and Kakati, 2021). However, it has been identified the rate of women entrepreneurs are getting reduce as it has seen girls are considered to be much more valuable at home rather than looking for income which is why the margin of learning opportunities and rate of dropout among girls in the country Uganda considered to be very high under the influence of conservative family who is more likely preventing girl progress towards entrepreneurship or self-employment.
From both perspectives, learnings through findings and literature entirely justifiable answers in response to the identified barriers in Uganda that have created issues for the entrepreneurs to establish their businesses have been justified effectively by the researcher (Mwesigwa and Mubangizi, 2019). In response to explaining the final research questions that are appropriate recommendations, it can be evaluated that Different business training saving groups, cash grants, and community sensitisation based on various interventions have been identified to mitigate possible small-scale business and Entrepreneurship management constraint mitigation processes to strategically acknowledge better profitable business management with entrepreneurship opportunities, different economic inclusion packages, psychology-based training for entrepreneurial business management by focusing on innovation business persistence and traditional business training proactiveness effectively (Fischer Brettel and Mauer, 2020). Productive infrastructure development process, socio-emotional and business digital skills development process through various professional networks are also taken under consideration within Uganda to ensure a better approach to entrepreneurship development.
5.4 Limitation and weakness
Throughout the discussion section one of the limitation that has been faced is the restricted research articles in relation with getting articles that are related to the collapse of the young companies in the infant stage in Uganda. Due to the lack of articles and sources it was difficult to assure the actual reason due to the collapse of the young companies. One off the weakness found is lack of statistical figure that have not be forecasted in this research paper in relation with the countries that have faced barriers while establishing their business in Uganda.
5.5. Summary
From the fundamental analysis of the findings chapter, it has been learned that the sustainability and survival factor of young companies in Uganda keeps deteriorating. From the research findings context, it has been evaluated that the majority of startup companies in the country Uganda are not getting enough support from the government, which leads to a decline in business opportunities and management conditions to generate more revenue for the company to become stable in the operating market. Limited government support and public body support towards innovation and new management opportunity development such as Technology contribution within businesses are quite Limited for informal companies in Uganda. Different business training saving groups, cash grants, and community sensitisation based on various interventions have been identified to mitigate possible small-scale business and Entrepreneurship management constraint mitigation processes. The productive infrastructure development and socio-emotional and business digital skills development process are considered the most significant recommendations that Uganda must acknowledge in tackling the decreasing rate of young companies' survival effectively.
Chapter 6: Conclusion and Recommendation
6.1 Conclusion
It is one of the most vital chapters that is intense to summarise all the key findings observed from all the dissertation chapters. In order to summarise the critical result concerning the objectives set in the introduction chapter, the conclusion of all the chapters will be evaluated to understand whether all the purposes and the research that has been placed in the initial chapter have been achieved by the researcher.
The first chapter of the dissertation summarises the main aims and objectives the researcher seeks to find throughout the process. The research topic investigated in this dissertation is the collapse of young companies in Uganda despite being one of the entrepreneur opportunity countries. Uganda is a developing country that has provided many opportunities for new entrepreneurs to establish its business. But in recent years, many companies have faced significant issues in developing their business in the market. The secondary research evaluated in this chapter is to understand the reason behind the collapse of young companies in Uganda and to seek the barriers they have faced the company has faced. The secondary research structure has been developed in this chapter to effectively discuss the significant parts that have been followed in the dissertation.
The second chapter was a literature review that provided in-depth knowledge about the various reasons why the market of entrepreneurs is collapsing in Uganda. The literature review has discussed the factors behind which Uganda has been regarded as the highest entrepreneurship country. It has been found that with the increase of the business learning school and high opportunities for every new entrepreneur Uganda provides a much more attractive country for all entrepreneurs to invest in the market. These are the influential factors that have been found suitable in Uganda that offer many privileges to new businesses to set up their companies. On the other hand, women's entrepreneurship has been found to have been neglected in the Uganda market, which is presumed to be one of the secondary reasons that the growth of new companies is being hampered in Uganda. In this literature review chapter, many researchers have described various reasons behind a business's collapse, continuously hindering Uganda's overall income.
Additionally, it has been observed that one of the significant barriers is the expectation of the management for business and other leadership inequalities that have restricted the business from growing well in Uganda. Often for a new start-up business, it is necessary to focus mainly on the leadership strategies that will not only improve the effectiveness of the organisation but also will lead towards the proper understanding and establishment of the business. Hence, it could be concluded from the second chapter that various reasons have continually affected the growth of the new entrepreneur in Uganda and that it has been affecting the overall development of the strategies.
The third chapter of the dissertation deals with the methodology section. The research has used an inductive research approach to understand the research process's purposes. With the help of the secondary data collection, the researchers have gained knowledge of the research strategies. They have collected data from the questionnaire data analysis format, which has helped the data researcher evaluate all the results. The fourth chapter of the dissertation effectively discusses the data analysis procedure observed throughout the research. Quantitative data analysis has derived that most of the secondary data that have been evaluated and asked about the various patients concerning the collapse of entrepreneur opportunities in the company have effectively stated that the lack of proper infrastructure has been one of the secondaryreasons that mostecondary data have depicted concerning the collapse of entrepreneur companies in Uganda. From the data analysis portion, another major thing that has been concluded is that the mixing up of the company that most entrepreneurs use to earn more profit is ultimately hampering the business by distracting its focus from the main business. It has been evaluated from the overall chapter of data analysis that the sudden impact of the changes in the comparative nurse in the business world and difficulty in understanding the complex leadership strategies have been continuously hampering the organisation's effectiveness. The various other kinds of the literature analysed in this chapter have effectively stated that the business mixing up in Uganda has been found to be one of the significant factors that have been continuously hampering the growth of the new business.Though from the data analysis process, most people have stated that there are many sustainable factors in Uganda that the new entrepreneurs could use in developing and understanding all the techniques effectively. Additionally, concerning the practical understanding of entrepreneurship, it has been concluded that although Uganda has many favourable opportunities, the lack of government intervention has been a major threat that is continuously affecting the growth of entrepreneurship in the country.
In the fifth chapter, the discussion chapter has effectively concluded that the increase in the issue of entrepreneurship-focused will increase the effectiveness of the companies in Uganda. The discussion chapter will increase the country's overall effectiveness, increasing the barriers in the Uganda market. It has been observed that the increase in the entrepreneurship of business and thus it has effectively addressed the various reasons which have effectively created an issue for the Uganda market. From the discussion chapter, it has been observed an increase in the overall understanding of the issues that the new entrepreneurs in Uganda are facing. The discussion chapters have provided deep insights about the proper business application that has been increasingly affecting the business effectively.
Hence from all the chapters, it could be effectively concluded that the main objectives of the research have been set in the initial chapter which is to understand the reason behind the collapse of young companies in Uganda, which has been successfully achieved. Still, the researchers have not been able to gain more insight into the ways entrepreneurs handle the leadership and other strategic issues that he is also restricting the companies in Uganda from flourishing their business.
6.2 Recommendation for business application
By understanding the various challenges the young companies have faced in Uganda while developing their business effectively, it is necessary to improve it for the future mitigation of such issues. Some suggested ways for the researcher in the practical business application are mainly stated below.
• Lower interest rates: To improve the situation of the young entrepreneurs in Uganda, the government of Uganda has to lower the interest rate. Earlier from the data analysis section, it has been observed that the high-interest rate leads to high inflation and thus, the number of investors is lower for the new company. In order to get this issue, lower interest rates should be stimulated, which will help to learn the business more effectively. With the help of low-interest rates, it encourages the business to expand and allows the consumers to experience a temporary increase in their discretionary income.
• Friendly trade policies: Foreign trade policies which mainly include import quotas and tariffs, need to be effectively lowered or eliminated in order to encourage foreign trade investment which is one of the significant effectiveness for the business. The relaxed trade restrictions and declaration of free trade zone will allow the local company to realise cost-effectiveness and increase the bottom line. The government must outsource labour and manufacturing to lower the cost of the market and should so cheaper raw materials that will help to increase the profit margin of the new entrepreneurs.
• Improving infrastructural facilities: Another major issue observed concerning entrepreneurship in Uganda is the lack of proper infrastructure facilities. The government needs to spend more money on technology Innovation and other industries to provide the new companies with the appropriate infrastructure to establish their business in the country. The increase in the infrastructure facilities will also help understand the various perspectives through which it will be easier for the researcher to understand and evaluate the multiple perspectives effectively.
• Dedicating resources: It is one of the perspectives where it is necessary for the government and other private organisations to help start a new business effectively. Providing the new entrepreneurs with adequate resources will not only strand the company but also create a significant local economy for the country.
• Providing tax incentives: It is another major implementation that would facilitate the companies in getting low corporate Income Taxes that would encourage business activity. This central government of Uganda needs to take proper steps in providing tax incentives and patronising specific industries that would help the growth of the new business in the market. Encourage the entrepreneurs to start a new solar business that will help the company earn more revenue and increase the organisation's effectiveness.
• The political instability has continuously created issues for entrepreneurs to develop their businesses effectively that can be decreased by building legal rights for the youths.
• Grants and soft loans: The government always has access to an entire population's worth of individuals and other business tax economies that can distribute the money to change the perspective of the economy. In Uganda majority of The Young company’s phase issues due to the lack of proper loans and grants from the government. The government of Uganda offers direct loans and other Grand programs to the entrepreneurs that would help the business to increase its revenue and stimulate business activities effectively. Providing such grants and soft loans will not only increase the survival rate of the new companies in Uganda but also will ensure many opportunities for the people to establish their businesses effectively.
• Economic gardening will effectively help the countries understand the new entrepreneurs' perspective and should help in dedicating more resources properly.
• Building a digital presence also helps the youth of Uganda mitigating the challenges that are being faced by them.
• Business development classes in colleges and community education: Concerning the private sector, it could offer business development classes at the local colleges in community education programs in Uganda to increase the understanding of the leadership skills and opportunities that need to be provided by the companies effectively. Whether it could be a full-fledged credit class that will go in-depth of understanding of the business and will also offer short workshops with tips on online marketing and other promotional ways which could be adopted by the new entrepreneurs in Uganda so that they could successfully run the business in the market, local educational opportunities will encourage all types of people to know about the various perspectives through which they could establish a successful business growth. It will provide many opportunities for entrepreneurs to get talented people in an overall understanding of the business effectively.
6.3 Implication for future research
In future, it is necessary to understand the perspective of the research topic and should develop the research effectively. In this research, the researchers have used a secondary data collection process to undertake the investigation thoroughly. But in the future, it is necessary that the second process would help the researcher evaluate all aspects of entrepreneurship in Uganda and look at the past and future perspectives that have restricted the entrepreneur's growth in Uganda. Additionally, it is necessary to implement that if the researcher had used a deductive research approach and thematic analysis based upon the data , then it would have provided much information concerning how the managers of the new companies are facing the issues in connection to Uganda. Using adata prospectus would have provided open-ended questions where it will become easier to understand the entrepreneurs' actual repercation of the entrepreneurs and the issues they are facing continuously in the market. Additionally, the lack of proper knowledge of the entrepreneur difficulties before the modern era it has limited the information for the researcher and the secondary objective of the research process, which is to evaluate how entrepreneurship could embrace the various prospectus that would encourage the researcher to understand and assess the ways to implement the strategies successfully in the market.
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Appendices
What is your gender |
|
Options |
Responses |
Male |
24% |
Female |
62% |
Prefer not to say |
14% |