URSB kicks off mass business registration campaign to drive formalization

Uganda Registration Services Bureau (URSB), the national business registry, has this morning launched its mass business registration campaign aimed at promoting formalization among entrepreneurs and small business owners.

This initiative seeks to simplify the registration process, raise awareness about the benefits of formalization, and drive economic growth. Dubbed “kiri easy, formalize today”, the initiative targets registering an additional 873,546 businesses by 2026/27.

Formalization plays a pivotal role in the success and sustainability of businesses. By registering their firms, and complying with legal and regulatory frameworks, businesses gain legal protection, access to financial services, and opportunities for growth.

URSB’s mass business registration campaign aims to empower entrepreneurs and small business owners to transition from the informal to the formal sector.

Make formalization attractive

Through streamlined procedures and targeted outreach efforts, this campaign will make the registration process more accessible and attractive to entrepreneurs.

Leveraging technology and a user-friendly platform, the kiri easy campaign provides comprehensive support and guidance, ensuring a seamless and efficient experience for entrepreneurs.

By simplifying the process, the campaign will increase reach of registration and encourage more businesses to formalize their operations.

The Minister of Justice & Constitutional Affairs, Hon. Norbert Mao who was the keynote speaker said that by fulfilling its role in formalizing Uganda’s economy, URSB contributes to several key outcomes.

“This initiative, which we are launching today, represents high expectations in our ongoing efforts to bolster economic growth, stimulate entrepreneurship, and enhance the ease of doing business in Uganda”

Unleash the untapped potential

The Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, said formalization encourages economic growth by attracting investments, stimulating entrepreneurship, and creating employment opportunities.

“This mass business registration initiative represents a positive step forward in our quest to make Uganda a hub of innovation, entrepreneurship, and economic prosperity. I am confident that it will unleash the untapped potential of our nation’s business community, driving economic growth, creating jobs, and improving the livelihoods of our people” he said.

Enhance the country’s competitiveness

Ambassador Francis K. Butagira, the Board Chairman said URSB continues to create awareness about the benefits of business registration to enhance the country’s competitiveness and drive private sector growth.

“URSB will deploy tested means of mobilization of masses to embrace business registration. These involve camping in hard to reach business centers, or any other area where our physical office may not be able to provide the required registration support service”.

“Formalization is a critical step towards building a thriving business ecosystem,” said Mercy K. Kainobwisho, the Registrar General.

“Our mass business registration campaign is designed to empower entrepreneurs and small business owners by providing them with the necessary tools, resources, and support to formalize their operations. By doing so, we aim to drive economic growth, enhance legal protection, and promote social and financial inclusion.”

Increased tax revenues

The benefits of formalization extend beyond individual businesses. Formalized businesses contribute to increased tax revenues, improved business environments, and reduced informality. They create employment opportunities, attract investments, and stimulate overall economic development.

URSB is planning countrywide business registration clinics across the country in a bid to encourage entrepreneurs, small and medium enterprises to formalize their businesses and take advantage of the benefits of formalization. By registering their businesses, they can unlock opportunities for growth, access financial services, and contribute to the formal economy.