Building local capacity in the oil and gas sector
Business Advisory
In the highly regulated and intricate Oil & Gas industry, SME’s usually face numerous challenges for business performance. These challenges include not understanding finance requirements, handling regulatory obligations, and understanding procurement procedures. SMEs require expert guidance and knowledge, which business advisory help provides, in order to understand the complexities of the sector, identify development opportunities, and lower risks.
The IEC shall assign Business Development Experts (BDEs) to selected SME’s to support the implementation of corrective measures that shall close performance gaps identified during the Business Diagnostics process.
Business advisory services at the IEC shall be offered in partnership with other entities (both public & private) to support market access, and diversification including partnerships that shall address particular challenges that may be identified during the Business Diagnostics.
The IEC shall offer business advisory services on the following aspects;
- Advisory on minimum Oil & Gas sector requirements e.g. NSD registration, tax planning & compliance etc.
- Coaching & Mentorship for Ugandan SME’s to target growth, profitability and improve business performance.
- Advisory on access to new market opportunities and diversifying beyond the Oil & Gas sector.
- Advisory on formation of strategic partnerships and Joint Ventures.
