28 Mar 2017




Kato and Juma met and at university and they grew fond of each other. Because of the strong friendship they had, they agreed to enter into business together after graduating and in effect enter into a partnership.

After graduating, Kato and Juma started discussing going into business together and sharing ideas. They had capital with them but could not agree on what to do together because of their differing Interests. They want guidance on what they can do that will benefit them.



A partnership is a relation which exists between people carrying on a business in common with the aim of making profits. The key terms in this definition is that there are two or more people, doing business together, the primary reason for the business is profit.

A Partnership can be formed even when the word “partnership has not been used. The moment people agree to “buy land together and grow cassava on it” they are agreeing to enter into a partnership, even when they don’t write any contract or agreement a partnership will exist.


In case you may be in a partnership without knowing it, these are the ways of identifying whether you are in a partnership:

1. The relationship MUST exist between two or more parties; this means that one person can’t form a partnership by themselves.

2. The partners must carry on business together/ the same business. This means that both are contributing to the same business. It cannot be a partnership if one the partners are carrying on different businesses even if they are saving their money together.

3. Making profits must be the aim of the business. This does not mean that profits must be made, only that it must be the primary reason for the partnership. For example it would be misguided to form a partnership for the purpose of helping people acquire mosquito nets, it would make more sense to create an NGO or a CBO for that purpose. A partnership carrying on similar business would be better suited to selling mosquito nets for profit.

NB: For a partnership to exist, all the three requirements mentioned above must be present.



In order to decide on what to do, Juma and Kato can give thought to the following:

1. Who is providing the most capital whether it is financial or in terms of resources? That person has greater to lose and so it may be necessary for their opinion to be given greater weight.

2. Both parties can agree to concede something to the other party in order to come to an agreement. This is keeping in mind that one cannot always get their way 100%.

3. The time factor is important. Which one of the Partners will be spending more time at the business than the other? If both spend the same amount of time, then which partner is better skilled at the day to day management of the business? This partner may have to take lead on the big decisions.

Always keep in mind that a two headed snake will fail to go anywhere because the two heads will keep pulling the body in opposite directions. Sometimes one has to be the tail in order to let the snake move forwards.

17 Mar 2017

Becoming Tech Savvy in a Tech Era

Becoming Tech Savvy in a Tech Era

We live in a world where technology is taking over. Many business have failed to adapt to the times and have had to close up shop. Perhaps no example is more prevalent than that of Kodak, a business that had drowned in the amidst of technology advances. In light of this, we have compiled 5 helpful tools to going digital that will help your business to thrive.
Get a business email address
Email has become one of the most common ways in which people communicate. Email allows your customers and clients to reach you easily and enables you to run email campaigns that advertise your business. (Email campaigns are much easier to track than flyers!) Without an email address, you risk alienating an entire generation of online consumers.
Get a website
Websites legitimise your business to a world that is increasingly present online. The first thing the digital generation does when they hear of something new is Google! They will google your business to make sure it is real and to find out more information. So, build a website with all the relevant information about your business. When creating your website, make sure it is user friendly. There is nothing more irritating than a website that is difficult to navigate and hard to use; this will reduce traffic on your website. Google analytics is a great tool for tracking your website and its impact. To learn more about google analytics, click here.
Establish a digital footprint on social media
There are over 1.86 billion Facebook users. This means that Facebook has enough users to form a country in its own right! Establishing a presence on social media platforms is equally as important as building a website. Why? Because consumers will search for you on Facebook, Twitter, Instagram and often use online reviews and comments to verify the quality of your business. Moreover, social media is a great place to market your business and run targeted campaigns. Facebook in particular, has been known to boost sales by 24%. For a few tips on increasing Facebook engagement, take a look at this article.
Invest in a Social Media and Brand Manager
Running social media presence may seem simple but it is fast becoming a sought-after skill in the corporate sector. If you have enough capital, invest in a manager who understands how social media works and understands your brand and your market. This can make all the difference in ensuring that your marketing campaigns are effective and reach the right people.
Use google applications
Use google drive, google doc, google sheets and google slides! These are useful tools available for document storage and help you create documents that team members can easily access and edit. Google applications enable you to share your work without having to send a million emails. Any changes made to the documents you create on Google are saved automatically; say goodbye to losing important documents. To create a google account and have access to all these wonderful applications, click here.

16 Mar 2017




What is Insurance?
Insurance happens when a person (insured) pays a certain amount of money (called premium) to an insurance company (insurer). This money is paid to cover loss against a certain event.

For example:
A person insures his house against fire, if fire breaks out, then the person can go to the insurance company and ask for payment (usually called indemnity) for the loss.

However, if a person insures for fire, but the house is destroyed by rain, then the person cannot claim the insurance money. Therefore, it is very important to know what risk is being indemnified when entering into an insurance agreement with your insurer.

How does one get insurance?
The first step to getting insurance is to identify the insurance company. You can find a list of insurance companies in Uganda here. Once you have identified an insurance company, then you can travel to their offices and agree on the terms and conditions of the contract. Typically, an insurance company will explain exactly how everything works, so you don’t need to know everything about insurance before you approach a company.

The amount of money you pay to an insurance company in order to obtain cover or protection is called a PREMIUM. Your premium will be used to “cover” the risk. An agreement between yourself and the insurance company is called the POLICY (contract of insurance). Once signed, both you and the Insurance Company will be bound to perform under the contract. The contract will contain all the terms of conditions for your insurance agreement, so it is important that you read and understand what you are signing. If you need help interpreting a policy, contact us through any of our platforms.

After signing the Policy, you become the insured and the Insurance Company becomes the insurer.

In the event that the risk insured against (for example fire) happens and causes the anticipated damage, the insured can bring a claim to the insurer for indemnity. For an insured to claim from the insurer, the loss that occurred must have been unforeseen or accidental (the exact details will be outlined in the policy). This means that if the insured is negligent or could have avoided the loss but did not, he will not be able to claim successfully from the insurer. A certain degree of care is required on the part of the insured lest he become reckless and bring about the event which would be disadvantageous to the insurer. Importantly, many insurance matters that end up in court hinge on a dispute negligence.

Why does Insurance matter?
There are many reasons why you should get insurance for your business but it all zeroes down to one thing: security against future uncertainties. No one wakes up and plans to fall sick, get into an accident, die or burn down their house but these events happen on a regular basis and often, they will affect your assets in one way or another.

Everybody needs insurance as a form of security. When you suffer loss due to an unforeseen event or accident, finding capital to cover the costs of damage can be very difficult. Insurance companies cover your costs so that you can focus your time, energy and resources towards operating your business.

What happens if there is a dispute between a person and the insurance company?
If there’s a dispute between a person and the insurance company, it is recommended that the person lodges a complaint to the Insurance Regulatory Authority (IRA) which will try and resolve this dispute before the matter goes to Court. Complaints to the IRA can be sent via email or telephone.

If you are not satisfied with the decision of the IRA, then you can take the matter to Court. But remember: before you can enforce your insurer to act upon the contract, you must have fulfilled all your obligations under the policy. If you default on premium payments, you cannot force your insurer to cover you when a risk materializes.
Contact us to find out about the different types of insurance options available to your business. Make smart choices now to avoid paying for your mistakes later.