Uganda Entrepreneurs: Why Are They In Business

Abstract

The role of entrepreneurship in economic development is well recognized in most western countries. The recognition of this role is increasingly becoming international as many East European and third world countries replace state capitalism with free enterprise economic systems. This paper reports on a survey study done about the development and future prospects of entrepreneurship in Uganda. Based upon responses from 208 small business owners, the paper discusses what motivates Uganda entrepreneurs, their risk taking willingness, and the involvement of family members in the family business. The majority of Uganda entrepreneurs cited monetary considerations as the main reason for going into business, which could be a reflection of Uganda's current economic conditions. However , most of them would not exchange business ownership for jobs even if jobs became available and paid as well as their businesses. This was due to the independence Uganda entrepreneurs enjoy as business owners. Uganda entrepreneurs become entrepreneurs for monetary reasons but remain entrepreneurs for the freedom entrepreneurship accords them.

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