Best Ideas 2020 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.
East African Business Hub
Explain your idea in details:
Small businesses are engines of economic growth in many economies. However, most these enterprises die in first 5 years of their existence mainly because of insufficient capital, inadequate market research, over concentration on one or two markets for finished products, cut throat competition, inadequate markets for finished products among others. Despite all these challenges, ICTs have proven to be potentially powerful tools for emerging entrepreneurs to transform their businesses. Globally, they are changing the way businesses operate, and are opening up opportunities for more enterprises to enter the global value chains. In addition to that, the advent of ICTs like the internet, has changed the way businesses carry out particular strategies. It is a dynamic system where both businesses and consumers have to adopt to the rapid pace at which it moves. For businesses, this means the competition has become global, the target demographics are no longer geographically limited, but are expanding across countries and continents. It is against this background that we came up with the East African Business Hub, with overall goal of promoting the growth of SMEs in East Africa through the use of technology. The platform will be a portal with different pages integrated together and categorically organized according to the products and services they offer. Each subscriber will have her own interactive page with information about their business in form of texts, images and videos. Each page will be created on a customizable sub domain in relation to the business name. The subscribers page will also be integrated with payment features to enable direct transactions online, thus connecting each of our subscribers to a whole new world of customers. In addition, the subscribers will be able to run several online marketing strategies tied to their pages to increase profitability and reputation.
Expected impact of your idea on sustainable development
The East African Business Hub will advance the economic empowerment of millions of emerging entrepreneurs in the East African region especially women out of poverty at the same time reducing gender inequality. The platform will promote economic development in the East Africa region by creating new marketing opportunities for the local industries. It will further promote the spirit of the East African integration. We target 10000 subscribers in the first 6 months of operation using the platform and we expect the number to increase as we continue with our operation. Our success will be measured by the number of people using the platform to market their products in the entire East African region.
Plans for implementation and sustainability
Our implementation strategy will involve; conducting a feasibility study, this will be in form of research to help us determine the situation and the relevance of our idea to the stakeholders, starting with Uganda. This will give us a clear image of what exactly what our clients will need. After the feasibility study, we shall go ahead to design a prototype of the platform. After the prototype, we shall engage stakeholders (end users) to test the prototype. If the prototype is successfully tested, we shall launch it and start embarking on business development, which will involve; establishing the management team, implementing the marketing strategies, establishing distribution channels and finally registering subscribers in Uganda. Each subscribe will have to pay per a monthly fee which will determined by the management team and 5% commission will be charged per transaction conducted through the portal. After a successful operation in Uganda for one year, then we shall extend our operation to the different countries in the East African region.
I am a 31 year old enthusiastic and resourceful young businessman and philanthropist with a proven ability to develop and strengthen management teams in order to maximize company/organization profitability and efficiency. I have over 7 years experience in leading and growing diverse businesses and organizations to make them dynamic and progressive. I possess excellent communication skills and able to establish sustainable and profitable relationships with customers, suppliers and stakeholders across the world. For example, I have forged relationships with over 10 organizations in Uganda and in other countries, such Turkey, Kenya, India and Tanzania. I am currently the Investment Administrator at Brish Limited Company and the Head of Branding and Packaging facility at Uganda Small Scale Industries Association ( USSIA).