With more and more buildings being built day in day out, and as the old ones need repair now and then, the hardware business can make huge returns if invested wisely. When starting hardware there are things one has to put into consideration to have a successful hardware business. Here is a closer look at some of the things you will require to start a hardware business in Uganda.
Steps to start a small business in Uganda
To start a successful business in Uganda there are things one has to do and necessary permits one has to acquire. Some of the steps are as below;
- The first step is to know the type of business you want to start and acquire a unique business name.
- The next step is to register your company with the Register Company and later be issued with the certificate of registration.
- Acquire all the necessary licenses from the Ministry of Health and Fire Department. This ensures the safety of your employees as well as yours and also the consumer’s safety especially businesses that deal with food.
- Register with the local authorities to get a trading license or operating permits.
- For Tax, purposes register with the Uganda Revenue Authority. Once you register your hardware business in Zimbabwe, you will be given a Tax Identification Number that will be like your account number.
Tips to start a hardware business in Uganda
- Have a business plan that you will follow to the latter. It will help you manage your finances and not overspend.
- Advertise your business using posters and even on social media platforms. Tell your friends to tell other friends so that your business can grow.
- Study the strengths and weaknesses of other businesses in the same field as yours and get to know how they work with them.
- Look for a location with the target market. Urban places, near town centers, and shopping malls are some of the best places to start almost any business. As for hardware, a location that is developing and has many structures being built is the best place to set it up.
- As hardware materials are quite a heavy one can offer delivery service to their customers at a small fee.
Items to stock in your hardware
For your hardware to grow, invest in items or products that are bought frequently. Some of these products include;
- Cement
- Metal bars
- Roofing nails
- Plumbing products
- Rods
- Machetes
- Spades
- Hammers
- Wheelbarrows
These are just but a few of the most purchased products.
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