Formation of a company : what Uganda could learn from South Africa's modified system

In: http://hdl.handle.net/11427/12915

Open Access

Abstract

Includes bibliographical references. ; Formation of a company is an important aspect of the economy as well as socio-economic development whose process must be made accessible to all entrepreneurs because of its far-reaching consequences. This study examines the position of the process of company formation in Uganda as enshrined in the Companies Act 1 of 2012 as well as the requirements of other requisite legislation. The study further, discusses the obstacles of company formation as well as the resultant impact of a widespread informal sector in Uganda. The study concludes by using South Africa as a case study on how Uganda could improve on its process of company formation. Consequently, making it simpler and more adoptable to the entrepreneurial population to enhance and foster economic development.