10 Businesses You Start With 2 Million Uganda Shillings I was confused by the toocompanies I can startwith only 2 million Uganda shillings.
The money seemed too little to start a profitable business in Uganda. So I set out to find the most profitable businesses you can start with just 2 million Ugandan shillings.
If you're having trouble starting a business, don't worry. We have a full guide onHow to start a business in Uganda.You can see it ☞here☜
After doing my research, I was able to find the 10 profitable businesses anyone can start with just 2 million Uganda Shillings.
Anyone can easily get starteda businessin Uganda and if you promise to read this article to the end I am sure you will have an idea or ideas on how to invest your 2 million Uganda shillings.
Number one on our list today of profitable businesses you can start in Uganda with 2 million Ugandan shillings is a boutique.A boutiqueis a store that sells fashionable clothes, shoes and jewelryCambridge dictionary.
Boutiques are doing well in Uganda and across East Africa. With 2 million Uganda Shillings to invest, starting a small boutique is the ideal business idea.
In order to maximize the profits you can make from your boutique, you need to place your boutique on one of the busy streets in your town or city. Boutiques are so profitable and within a short period of time after launching, you will start making your profits.
See:How to start a boutique from scratch in Uganda
The type of clothing, shoes and bags for sale depends on your business location. It's your customers who tell you what they want.
The beauty world is located next to the boutique.Cosmeticsare among the best performing economic sectors in Uganda. The success rate of a cosmetics business in Uganda is 70% out of 100%.
This is possible because most Ugandans like to look good and will spend every shilling to make their body look classy. A cosmetics store thrives like any other business on a busy street.
When you start a cosmetics store, you need to determine the types of cosmetics that you want to offer your store according to your market.
See:How to open a cosmetics business in Uganda
A cosmetics store has lotions, perfumes, roll-ons, body jellies, and more.
Who has never visited a small supermarket in Uganda? No one. How about people visiting yours tomorrow?
Large supermarkets may be expensive to set up, but a small supermarket certainly fits well into the Ugandan shillings 2 million budget. This business is profitable because every person is potentially your customer.
See;How to start a small supermarket in Uganda
A supermarket offers a wider range of products than regular stores and is like any other retail store. What you have in your business is largely determined by your customers.
Decide today to invest your 2 million Uganda Shuilings in building a small supermarket near you and you will never regret it.
With a rapid increase in cars and bikes, starting a car wash is becoming a real bang for your buck.
A washing placeis a place where cars are cleaned. All you need is a supply of water, some car space to pack and workers to wash the cars, and cleaning supplies, sponges, brushes and bowls.
With your own property that has water installed or has a water stream flowing through it, you can start a wash bay with 2 million Ugandan shillings.
See:How to start a business in Washing Bay Uganda
This business has less competition and is super profitable. With a strategic location, you are well advised to start this type of business.
As a developing country, electricity reaches almost all of Uganda. These places with electricity require electrical devices such as televisions, radios, hoofers and many more.
The places that still need electricity need solar services like solar panels. Depending on your location, opening an electronic business that offers all the necessary services could be the next financial break you need.
With 2 million Ugandan shillings, anyone can open an electronics store and make themselves some pretty good money. All you need to be successful in this business is to stock your store well with what your customers want.
You can sell anything from electrical products, solar products to gadgets like computers, phones, tablets and more.
The size of your electronics store will increase over time and as your customer base grows. But if things go well, this is a very profitable business to start in Uganda.
The entertainment industry is on a rampart built in Uganda. Entertainment that Ugandans enjoy includes movies and music.
With 2 million Ugandan shillings, you have enough capital to open a video store yourself. A video rental store is a business that rents or sells movies and music to its customers.
In Uganda today there is a video store on almost every street. Well, that shouldn't demoralize you if you're planning on starting a video store. Rather, it should encourage you after knowing that there is already a market for your business.
Keeping your video library updated with new movies is ideal if you want to profit well in this business and build a strong customer base.
poultry farmingis a very broad industry. There are basically two types of poultry farming to choose from - broilers and layers. Broilers are bred for meat, while layers serve both eggs and meat.
In poultry farming you can read about many species of birds, including domestic or broiler chickens and laying hens, ducks, geese, quail, guinea fowl, turkeys, pigeons and peacocks. You can focus on one, two or three bird species and add more birds later as the business grows.
See:How to start poultry farming in Uganda
This business is super profitable and many Ugandans have made fortunes raising poultry. With 2 million Uganda Shillings and housing such as a house or chicken coop, you can start your poultry farming financial journey.
Goat farming is related to poultry farming. With your property or 1 hectare of land, anyone with 2 million Ugandan shillings as seed capital can successfully start goat farming.
Goat farming generally means raising goats to obtain milk, meat and fiber from them. Although the majority of Ugandans raise goats for meat production, you can decide what product you want from the goats you raise.
Goat farming is not a new business in Uganda. It's a profitable and sustainable business. Goats, unlike other farm animals, reproduce very quickly through breeding, which helps you start with a few goats and increase in numbers over time.
With the right breed of goats, you can start a very profitable business in Uganda today. Depending on your purpose of keeping goats, you need to choose the right breeds of goats for your farm.
Banana cultivation is one of the commercial fruit crops in the agricultural sector in Uganda and around the world. It only takes 2 million Uganda Shillings and a fertile piece of land to start your banana growing business today.
Uganda is a blessed country because 80% of its land is fertile. So that means that wherever you are, you can start this business.
You must be patient if you want to be successful in this business because banana plantations take time to grow and become ready for harvest. But once you get started successfully and are patient enough, you are sure to make a fortune in this business.
Last but not least, pig farming. This business has made fortunes for Ugandans and if you too are willing to start it, rest assured that you will get your share of the fortune too.
From my research, someone who needs money quicker is more likely to get it from farming pigs than from winning the lottery or betting. Pigs are super fertile and if cared for, a pig can give 10 to 12 piglets in a single birth.
Realizing the value of pig farming and how profitable it is, the Government of Uganda through their wealth creation project decides to give piglets back to Ugandans and lift them out of poverty.
Pigs are bred primarily for pork production. With 2 million Ugandan shillings you can establish a pig breeding ban and buy young piglets to take care of until they are grown.
Pigs are easy to care for as they have a wide variety of foods to eat, unlike other livestock.
Here we conclude the 10 Profitable Businesses You Can Start With 2 Million Uganda Shillings.
Decide today to start your own business in Uganda too. It's not as hard as you think, and if you need inspiration, we've got a guide on how to do itHow to start a business in Uganda
What Kind of Business Can You Start With 2 Million Uganda Shillings? Leave your answer in the comment section below. Thanks
What business can I start with 2million? ›
You can start an online business, a restaurant, a beauty salon and many more. The beauty industry is one of the most profitable industries in Nigeria and it has high potential for growth.What is the best business to start in Uganda? ›
- Poultry Farming with Hatchery. This business plan aims to open a chicken hatchery. ...
- Processed Food Grains Market. During the forecast period, the Uganda grains market is expected to develop at a CAGR of 4.2 percent (2021-2026). ...
- Printing Inks Business. ...
- Animal Feed Business. ...
- Textile Business.
Top 11 Lucrative And Most Profitable Businesses In Uganda 2023. 1. Food Processing: Most of the food which is consumed in Uganda are imported from neighbouring countries and countries outside the continent.What can I do with 10 million Uganda shillings? ›
Back to the business ideas you can start with small capital in Uganda, here you go, and hopefully you find one that suits you.
- Chicken farming. ...
- Motorcycle bodaboda business. ...
- Small shop in your area. ...
- Selling second hand clothes.
- Accounting Firm. Accounting firms track income, expenses, taxes, and other financial-related information for businesses and individuals. ...
- Healthcare. ...
- Real Estate. ...
- Legal Services. ...
- Dental Care. ...
- Warehouse and Storage. ...
- Cleaning Services. ...
- Funeral Homes.
- Agriculture Value Addition. Opportunities in large scale production, agro-processing and agribusiness. PRIORITY SECTOR.
- Tourism. Opportunities in accomodation and development of new products. PRIORITY SECTOR.
- Mineral Value Addition. Opportunities in mining and mineral beneficiation. PRIORITY SECTOR.
- Step 1: Conduct Research.
- Step 2: Write a Business Plan.
- Step 3: Source and Plan for Capital.
- Step 4: Choose a Business Structure.
- Step 5: Register Your Business.
- Step 6: Acquire Business Licenses and Permits.
- Step 7: Select a Suitable Location.
- Website Designing.
- Interior designing and decorating.
- Pet care services.
- Travel agency.
- Organic farming.
- Coaching classes.
- Digital marketing services.
Coffee is the most significant export crop, although tea, tobacco, and cotton are also important. Small farmers dominate the agricultural industry in Uganda, most of whom mix subsistence farming with cash crops and animal production.How much is $100 US in Uganda? ›
How much is $2000 US Dollars in Uganda shillings? ›
be ready to spend Sh 400,000 to Sh 2,000,000 on premises depending on location and size. Location size/Area: The minimum area of 10 square meter is required to start a medical shop or pharmacy or wholesale outlet. In case, the pharmacy business combines retail and wholesale, a minimum of 15 square meter is required.How long can you live with 2 million dollars? ›
Assuming you will need $80,000 per year to cover your basic living expenses, your $2 million would last for 25 years if there was no inflation.Is 2 million net worth enough? ›
Yes, for some people, $2 million should be more than enough to retire. For others, $2 million may not even scratch the surface. The answer depends on your personal situation and there are lot of challenges you'll face. As of 2023, it seems the number of obstacles to a successful retirement continues to grow.Is 2 million net worth a lot? ›
How much money do you need to be considered rich? According to Schwab's 2022 Modern Wealth Survey (opens in new tab), Americans believe it takes an average net worth of $2.2 million to qualify a person as being wealthy.What are the 10 business ideas? ›
- Handyman. Image Source. ...
- Woodworker. ...
- Online Dating Consultant. ...
- Sewing and Alteration Specialist. ...
- Freelance Developer. ...
- Personal Trainer. ...
- Freelance Graphic Designer. ...
- Life/ Career Coach.
Freelancing or Consulting. The #1 quickest way to bring in revenue immediately is to start freelancing or consulting. Whatever you want to call it, whether it's a one-person operation or a budding agency, this simply means that you are selling a service rather than a product. There are no startup costs, and no overhead ...What can make you rich fast? ›
- Avoid (and Pay Down) Debt. ...
- Spend Intentionally and Minimize Costs. ...
- Invest as Much as Possible in a Diversified Portfolio. ...
- Work On Your Career. ...
- Find Extra Work.
- Travel & Hospitality – 201% aggregate growth rate.
- Media – 198%
- Energy – 174%
- Security – 171%
- Real Estate – 168%
- Proofreading Services. ...
- Social Media Manager. ...
- Podcast Producer or Editor. ...
- Graphic Designer. ...
- Travel Agent. ...
- Career or Life Coach. ...
- Food Delivery Services. ...
- Furniture Maker.
What businesses will always be in demand? ›
- Food. Food is required for life and this means demand will always be high. ...
- Pharmaceutical. The pharmaceutical industry has experienced impressive growth globally. ...
- Healthcare. ...
- Education. ...
- Sin Industry. ...
- 6. Entertainment and Media. ...
- Professional Services.
Here are the best low-risk investments in January 2023:
Series I savings bonds. Short-term certificates of deposit. Money market funds.
- High-yield savings accounts.
- Certificates of deposit (CDs)
- Money market funds.
- Government bonds.
- Corporate bonds.
- Mutual funds.
- Index funds.
- Exchange-traded funds (ETFs)
- Start a dropshipping business.
- Design and sell print-on-demand t-shirts.
- Launch your own book.
- Create digital products or online courses.
- Sell print-on-demand posters, greeting cards, and prints.
- Start a charitable business.
- Sell a service.
- Create an online fashion boutique.
Fees and timelines in 2023
Uganda business incorporation costs in Year 1 amount to US$9,650 and annual company costs in Year 2 and thereafter amount to US$4,100.
The easiest business to start and to end is the a. Sole proprietorship. This is a business that is operated by one person. This means that the sole trader has all the powers to make and implement a decision.How much can I make if I invest 2 million dollars? ›
At $200,000 per year in average returns, this is more than enough for all but the highest spenders to live comfortably. You can collect your returns, pay your capital gains taxes and have plenty left over for a comfortable lifestyle.What small business makes the most millionaires? ›
What business makes the most millionaires? A few businesses have made more millionaires than any other. These businesses include investment banking, hedge fund management, and private equity. All these belong to the financial sector, the top industry that produces the most millionaires.How can I start a business with millions? ›
- Be an Industry Thought Leader. ...
- Make Passive Income Streams. ...
- "Up Sell" Your Customers. ...
- Over-Deliver Whenever Possible. ...
- Conduct a Competitive Analysis. ...
- Stay Focused and Positive. ...
- Sell Globally. ...
- One Million Is Intimidating.
Invest in Rental Properties
Another way to invest $1 million is through renting individual properties, including single-family homes, multi-family homes, small commercial properties, or even specialized projects like fix-and-flip projects. Historically, real estate has been one of the very best long-term investments.
Which business will grow in next 5 years? ›
- Content Marketing.
- Virtual education/online training.
- 3D printing.
- Mental Health and Marriage Counselling Business:
- Automobile Charging Station.
- Outlets For Fast Food and Delivery.
- Internet of Things (IoT Industry)
- Company for Biometric Sensors.
- 10 Steps to Become a Millionaire in 5 Years (or Less) ...
- Create a wealth vision. ...
- Develop a 90-day system for measuring progress/future pacing. ...
- Develop a daily routine to live in a flow/peak state. ...
- Design your environment for clarity, recovery, and creativity. ...
- Focus on results, not habits or processes.
- Fitness or physical therapy services. The pandemic seems to have permanently changed the fitness landscape. ...
- App development. ...
- Online consulting services. ...
- Dropshipping. ...
- Home improvement services. ...
- Information security. ...
- Event planning and virtual event planning. ...
- Commercial cleaning services.
- 'Invest in something you love. ...
- 'Buy and sell items from garage sales. ...
- 'Improve and invest in yourself. ...
- 'Learn a high-income skill. ...
- 'Write an e-book. ...
- 'Buy a multimillion-dollar business with other peoples' money. ...
- 'Build a personal brand.
- Bonds, bonds, and more bonds.
- Consider an annuity.
- Look into actively managed portfolios.
- Track your retirement.
- Invest in stocks.
- Invest in crypto.
- Invest in alternative investments.
- Build or grow your own business.
If you had that infamous 2 million dollars, then what would the interest be on it per month? Using the same investment figures as above, here's what the monthly interest on $2 million dollars equates to: 0.5% savings account: $833 a month. 1% government bond: $1,667 a month.