Lesson three

3.1 BUSINESS ASSOCIATIONS IN UGANDA

These are associations formed by business men voluntarily and agree to work together to achieve their own objectives.

The common objectives which make business men form associations are;

To get local and foreign markets for their produce.
To get raw materials through identifying possible suppliers.
To provide technical advice to their members as regards marketing strategies and technics of producing products.
To access credit facilities in term of loans for their businesses.
To advocate for the rights of their members for example death, sickness, loses, accidents etc.

They help to create local foreign markets for their produce
They get raw materials for their members by sourcing reliable suppliers of such raw materials
They advocate for the rights of members for example by fighting unfavourable policies regarding their business like high taxes, lengthy procedures of getting income.
They provide technical advice as regards methods of producing goods, marketing strategies, quality control etc.
They provide inputs to their members like fertilizers, vaccines etc.
They provide in keeping prices stable for their members hence making profitability of their businesses predictable
They provide capital in form of loans at low interest rates hence boosting their capital base.
They provide assistance to mm=embers in-case of unforeseen problems like floods, accidents, fire outbreak etc.