URSB Introduces Business Rescue Initiative To Reduce Enterprise Closures In Uganda
The Uganda Registration Services Bureau (URSB) has launched a Corporate Rescue and Aftercare Support Programme aimed at helping businesses overcome financial and operational challenges and reducing the rate of enterprise closures in Uganda.The initiative, implemented through URSB’s Directorate of Insolvency and Receivership, is designed to equip entrepreneurs with practical skills and knowledge to build sustainable businesses and prevent avoidable failures.
The programme addresses challenges commonly faced by businesses, including poor financial management, limited business knowledge, weak corporate governance and inadequate planning.Although Uganda is widely recognised for its strong entrepreneurial culture, many businesses struggle to survive beyond their early years. URSB says the new initiative is intended to help reverse this trend by supporting businesses before they reach the point of collapse.The programme is also aligned with the objectives of Uganda’s National Development Plan III, which seeks to strengthen the private sector by promoting business growth, preventing insolvency and creating an environment where enterprises can recover from financial difficulties.Speaking during the launch, Elimu Trust Eastern Africa Chief Executive Officer James Bulenzibuto urged entrepreneurs to adopt proactive measures to address business challenges rather than waiting until their enterprises are on the verge of collapse.
Bulenzibuto said entrepreneurs need access to the right knowledge, guidance and tools to make sound decisions, improve business operations and achieve long-term sustainability.Uganda Development Bank (UDB) Head of Advisory Department Barbara Kasekende also cautioned entrepreneurs to manage borrowing responsibly.She advised business owners to ensure that loans are used to support productive investments, expansion and profitability rather than adding financial pressure to already struggling enterprises.Under the Corporate Rescue and Aftercare Support Programme, entrepreneurs will receive training in areas such as financial management, corporate governance, business strategy and legal options available for rescuing distressed businesses.
The programme will also bring together entrepreneurs, regulators, policymakers, business experts and academics to exchange knowledge and develop solutions aimed at strengthening Uganda’s business community.URSB said the initiative is intended to promote a culture of early intervention, helping businesses identify and address challenges before they escalate into insolvency and closure.
