Astor Finance_final_survey_report_ian Nkata_uganda

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Table of Contents EXECUTIVE SUMMARY....................................................................................................................................................3 1. INTRODUCTION..............................................................................................................................................................7 1.1. ASTOR FINANCE PLC: PRESENT OPERATIONS AND NEEDS .............................................................................................7 1.2. CDE INVOLVEMENT IN THE FINANCING OF THE SURVEY...............................................................................................7 1.3. THE LEAD UP TO THE SURVEY, MARKET CONSULTATION AND CHOICE OF CONSULTING FIRM .....................................7 1.4. SURVEY OBJECTIVES AND KEY RESEARCH QUESTIONS ................................................................................................8 2. SURVEY METHODOLOGY ...........................................................................................................................................9 2.1. CHOICE OF METHODOLOGY...........................................................................................................................................9 2.2. SURVEY QUESTIONNAIRES ............................................................................................................................................9 2.3. TRAINING OF RESEARCH ASSISTANTS ...........................................................................................................................9 2.4. SAMPLING AND SCOPE OF SURVEY ..............................................................................................................................10 2.5. SURVEY SCHEDULE AND FIELDWORK PLAN ................................................................................................................10 2.6. PROCESSING OF DATA – CODING, DATA ENTRY AND ANALYSIS .................................................................................11 3.

FINDINGS ....................................................................................................................................................................12 3.1. RESPONDENTS .............................................................................................................................................................12 3.1.1 Gender of Respondents...................................................................................................................................12 3.1.2 Age of Respondents ........................................................................................................................................12 3.1.3 Have you ever obtained an item through micro leasing?...............................................................................13 3.1.4 Main source of income ...................................................................................................................................13 3.1.5 Type of Business Operated .............................................................................................................................14 3.1.6 Plans to make use of micro-asset leasing .......................................................................................................15 3.1.7. Value of asset one wants to lease.....................................................................................................................16 3.1.8 Initial payment on micro asset .......................................................................................................................17 3.1.9 Frequency of payments...................................................................................................................................18 3.1.10 Categories of equipment business people are interested................................................................................18 3.1.11 Reasons given for preferred items/equipment..................................................................................................19 3.2 BUSINESS CULTURE .............................................................................................................................................20 3.4 GENERAL COMMENTS ..........................................................................................................................................26 3.5. VIEWS FROM OTHER MICRO FINANCIAL INSTITUTIONS AND BUSINESS ASSOCIATIONS .................................................27

4.0

CONCLUDING STATEMENTS AND RECOMMENDATIONS.........................................................................31

APPENDIX A: TERMS OF REFERENCE FOR THE ASSIGNMENT ........................................................................33 APPENDIX B: SURVEY QUESTIONNAIRES................................................................................................................35 APPENDIX C: INTERVIEWER INTRODUCTION LETTER ......................................................................................39 APPENDIX D: LIST OF RESPONDENTS AND RESPONDENT INSTITUTIONS....................................................40 APPENDIX E: LIST OF DOCUMENTS REVIEWED....................................................................................................41 APPENDIX F: FIELD SURVEY GUIDELINES FOR RESEARCH ASSISTANTS ....................................................42 APPENDIX G: GENERAL DESCRIPTION OF EQUIPMENT ....................................................................................43

2

Executive Summary ! () )

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1. Introduction 1.1. Astor Finance plc : Present Operations and Needs

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2. Survey Methodology 2.1. Choice of Methodology

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2.4. Sampling and Scope of Survey

The survey targeted 200 people in the general public mainly involved in the operation of small and micro businesses. It covered such groups of people as market vendors, tailors, motor garage owners, restaurants, retail shops, various types of workshops, e.t.c. The sample was randomly drawn from the districts of Mukono, Jinja, Wakiso, Kampala, Masaka and Luweero. According to the Uganda Bureau of Statistics, A Report on the Uganda Business Register, 2003, the selected districts had a high concentration of small business operations. Findings from the selected districts and locations would be representative of the national picture in terms of micro- asset needs of small and medium enterprises (SMEs). Due to time limitation and limited resources, the whole country could not be covered in the survey. Owing to the diversity of the target respondents, sampling techniques applied were a combination of systematic random sampling and judgmental technique. ) 2 0 ' A . ' ' () > . ' ' A A . ' () ' () ' () . (4 . (7 2 ' . . ( ) ( ) ' ( 2.5. Survey Schedule and Fieldwork Plan *'$ * */ (+ *%)(%'+ *

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Entebbe Town/Abayita Bukoto, Ntinda, Banda, Nakawa 3 Nsambya, Makindye, Gaba, Kibuli 4 Kamwokya, Downtown Kampala (Central Business District) 5 Nakulabye, Nateete, Kasubi 2

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3.

Findings 3.1. Respondents

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Gender of Respondents Gende r of Re sponde nts n=200 60

Percent

50

50

50

Male

Female

40 30 20 10 0

3.1.2

Age of Respondents

Percent

Age of Re s ponde nts n=200 40 35 30 25 20 15 10 5 0

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34.5 24.5

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18-30 years

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Details of specific locations visited during the survey appear in appendix vi

12

3.1.3

Have you ever obtained an item through micro leasing? Have you e ve r obtaine d an equipm e nt or item through Micro Le as ing Arrange m ent? n=200 90

84.5

80 70

Percent

60 50 40 30 20

15.5

10 0 Yes

No

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Main source of income Main source of income Activity

Frequency

Percent

Retailing

45

22.5

Service provision

42

21

Food service

36

18

Hair dressing

14

7

Metal fabrication

7

3.5

Farming

6

3

Hardware dealership

6

3

Teaching

6

3

Retirement benefits

5

2.5

Accommodation

4

2

Carpentry

4

2

Clothes dealership

3

1.5

Grain milling

3

1.5

Photography

3

1.5

Tailoring

3

1.5

Timber processing

3

1.5

13

Main source of income Activity

Frequency

Percent

Wholesaling

3

Cement dealership

2

1

Brick making

1

0.5

Charcoal dealership

1

0.5

Construction

1

0.5

Designing

1

0.5

Repair Total

1.5

1

0.5

200

100

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Type of Business Operated Type of business operated

Business kind

Frequency

Percent

Retail shop

42

21

Workshop

22

11

Restaurant

21

10.5

Saloon

16

8

Hardware shop

9

4.5

Market stall

7

3.5

Video library

7

3.5

Butchery

5

2.5

Phone booth

5

2.5

Secretarial bureau

5

2.5

Wholesale shop

5

2.5

Lodging

4

2

School

4

2

Taxi service

4

2

Confectionery

3

1.5

Flour mill

3

1.5

Garage

3

1.5

Laundry services

3

1.5

Photo studio

3

1.5

Training centre

3

1.5

Beauty shop

2

1

Carpentry shop

2

1

Catering services

2

1

Drug shop

2

1

Entertainment centre

2

1

Professional services

2

1

14

Type of business operated Business kind

Frequency

Percent

Recording studio

2

1

Repair services

2

1

Timber store

2

1

Bridal centre

1

0.5

Charcoal stall

1

0.5

Cleaning services

1

0.5

Clinic

1

0.5

Communication centre

1

0.5

Driving school

1

0.5

Event services

1

0.5

Fabric shop

1

0.5

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100

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Plans to make use of micro-asset leasing

If No, do you inte nd to or plan to ge t one ? n=169 100.0

88.0

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No

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3.1.7. Value of asset one wants to lease

Statistics What is the value in Uganda shillings of the kind of asset you would like to lease? N

Valid

179

Missing

21

Mean (Average)

2,913,240

Median

2,000,000

Mode

2,000,000

Std. Deviation

3,738,842

Range

34,830,000

Minimum

170,000

Maximum

35,000,000

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Frequency

Valid Percent

2,000,000

30

16.8

1,000,000

20

11.2

3,000,000

20

11.2

5,000,000

19

10.6

500,000

15

8.4

600,000

8

4.5

700,000

7

3.9

2,500,000

7

3.9

400,000

6

3.4

800,000

6

3.4

10,000,000

5

2.8

300,000

4

2.2

1,500,000

4

2.2

4,000,000

4

2.2

16

What is the value in Uganda shillings of the kind of asset you would like to lease? Value indicated (UgX)

Frequency 4

2.2

7,000,000

3

1.7

1,200,000

2

1.1

3,500,000

2

1.1

8,000,000

2

1.1

170,000

1

0.6

900,000

1

0.6

1,300,000

1

0.6

1,600,000

1

0.6

1,700,000

1

0.6

2,800,000

1

0.6

8,500,000

1

0.6

14,000,000

1

0.6

15,000,000

1

0.6

20,000,000

1

0.6

35,000,000

1

0.6

179

100

Total

3.1.8

Valid Percent

6,000,000

Initial payment on micro asset In cas e you w ant to get into a m icro ass e t le asing arrangem e nt, w hat initial paym e nt w ould you m ak e of its value ? n=178 60.0 51.1

50.0

Percent

40.0 30.3

30.0 20.0

14.0

10.0

4.5

0.0 1-10%

11-20%

21-30%

Other

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3.1.9

Frequency of payments How often w ould like to m ak e paym e nts on this ass e t? n=178

Percent

50.0 45.0 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 0.0

;

46.4

19.0

6.7

2.8

3.4

Weekly

Every 2 w eeks

2

15.6 5.6 0.6

Monthly

Every 2 months

Every 3 months

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Every 6 months

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3.1.10 Categories of equipment business people are interested Categories of Equipment people are interested in Total mention counts = 311 Entertainment/Hospit ality 13%

Health 1%

Agriculture/Farming 3%

Construction/Wood w ork/Metal w ork 12%

Transport 9%

Food processing 12%

Retail trade and services 50%

18

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List of items or equipment interested in Mentions Item name 46 28 Digital camera 26 29 Projector 20 30 Inverters 10 31 Cookers 9 32 Washing machines 8 33 Brick making machines 7 34 Silo Furniture (Tables, Chairs, tents for Photocopiers 7 35 function hiring) Weighing scales (Heavy duty) 7 36 Video cameras Computers 7 37 Milk cans Food processors/Juice extractors 6 38 Ice cream making machines Hair driers for saloons 6 39 UPS Blow driers for saloons 6 40 Saloon chairs Printers 5 41 Incubators Sewing machines (Manual/Electric) 5 42 Blenders Deep fryers 5 43 Micro wave cookers Meat cutting machines (mincers, fillets, etc) 5 44 Air conditioners Decoders/Dishes (Satellite TV) 4 45 Photo processors Payphones 4 46 Photo printers Timber cutting machines 4 47 Car jack (Heavy duty) Furniture (Tables, Chairs for Scanners 3 48 restaurants) Mobile lights (For Hair clippers/Cutters 3 49 functions/events/video coverage) Metal cutters/benders 3 50 Vacuum cleaners Milling machines (maize) 3 51 Spraying cans Ovens/Warmers (Electric) 3 52 Laboratory equipment Furniture (Desks, Chairs for schools) 3 53 Greenhouse net Music system 2 54 Screen printers for textiles Item name Fridge/Freezers/Coolers Generators Motor vehicles TV Sets Welding machines Motor cycles DVD Players

Mentions 2 2 2 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1

3.1.11 Reasons given for preferred items/equipment

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Percent

1

Improving capacity of my business to meet growing demand for services/goods

39

2

To improve business or offer better services

36

18.0

3

To maintain/extend shelf life for perishables like milk/fish/drinks/foods

32

16.0

4

Expanding business operations

26

13.0

5

To improve transport facilities for marketing, delivery, taxi etc

22

11.0

6

To boost income/revenue/sales

16

8.0

7

To take care of power shortage/outage (The case for generators)

10

5.0

8

Attract new customers

10

5.0

9

Improve product quality

9

4.5

10

Diversify into other products/businesses/services/processes

8

4.0

11

To entertain guests (TV, Decoders, Music systems for restaurants etc)

8

4.0

12

Replacing old and used up machines

6

3.0

13

To ease management

5

2.5

14

To improve efficiency in processing goods/services (Productivity)

5

2.5

15

To reduce on operational costs

4

2.0

16

Use of different , more modern machines with ease

3

1.5

17

Offer more employment opportunities to people

2

1.0

18

To compete favorably

1

0.5

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Business Culture

4

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Do you have a bank account in any financial ins titution?n=177 90

80.8

80 70 Percent

60 50 40 30

19.2

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Do you keep books of accounts?

No

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Do you ke e p books of Accounts ?n=178 70

64.6

60

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50 40

35.4

30 20 10 0 Yes

No

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Have you lived or w ork e d in this are a for 2 or m ore ye ars ? n=179 100 90 80 70 60 50 40 30 20 10 0

88.3

11.7

Yes

;

No

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!* <*,=$;($':$).%6 .(%+(*: (:'./.$'(*/.% *: *:$'.*%@ Do you have a trading lice nse or ce rtificate of incorpration?n= 179 70

62.5

60

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50 37.5

40 30 20 10 0 Yes

No

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Do you have audite d accounts ?n=179 90

79.9

80 70

Percent

60 50 40 30 20

20.1

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No

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70.9

70

Percent

60 50 40 29.1

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4

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65.1

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Percent

50 40

34.9

30 20 10 0 Yes

No

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58.4

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41.6

40 30 20 10 0 No

Yes

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B .'%(++$'+. 6%.%6*/$ *%':$ ' In e ve nt of proce e ding w ith leas e plan, do you have a pe rs on to w itne s s contract s igning?n=176 70

64.2

60

Percent

50 40

35.8

30 20 10 0 Yes

4

No

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( *,%)%(++*/>,+.%(++ :(5.+(+ Do you have s ound bus ine s s pre m ise s ? n=169 90 78.1

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P o o ling mo ney fro m savings gro ups? 19%

Village bank? 7% B uying o n credit? 19%

Co ntributio n fro m relatives o r spo uses? 21%

P erso nal savings? 34%

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Big banks that have been involved in asset leasing include DFCU, Barclays and Stanbic Bank

29

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Concluding Statements and Recommendations

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Appendix B: Survey Questionnaires

F,(+'.*%%$.:( - .() ,:;(. .% 5$ $%) .:* ,+.%(++(+0

Uganda Business Support Consultants Limited Market Survey on Micro Asset Leasing-April 2008 Questionnaire Number Location name Interviewer’s Name Date of interview I am undertaking a survey on business operations in this area with the aim of identifying areas in which small businesses can be supported and assisted in their growth and development. Our main focus is on the aspect of Micro Asset Leasing. Leasing – is a contract through which some uses equipment owned by someone else. The user (the lessee) pays regular amounts to the owner (the lessor). The main objective of micro asset leasing is to enable members of the public in small business operations to acquire productive assets. In this case the documents of title/ownership to the asset are retained by the micro finance institution until full loan is repaid or recovered. Background information A1. Gender

(1) Male [

]

A2. How old are you? (1) 18-30 [ ] (2) 31- 40 [

(2) Female [ ] (3) 41-50 [

] ]

(4) Over 51 years [

]

A3. What is your main source of income? …………………………………………………………………………[

]

Business Operations A4. What kind of business do you operate? ……………………………………………………………….………[ A5. Have you ever obtained an equipment or item through Micro Asset Leasing arrangement? (1) Yes [ A7) (2) No [ ] (If No go to A6) A6. If No, do you intend to or plan to obtain one? (1) Yes [ ] (2) No [ ] (Proceed to A7)

]

]

(If Yes go to

A7. What is the value in Uganda Shillings of the kind of asset you would like to lease? (State range) ………………….. A8. Given the amount stated above, what proportion of this value would be willing to pay as initial payment? (Deposit of a certain percentage of the cost of the asset) (Say if value of asset is worth 1m/=, how much would be willing to pay as initial deposit?) (1) 1-10% [

]

(2) 11-20% [

]

(3) 21-30% [

]

(4) Other ………………………………………………….

A9. How frequently would you like to make payments on this asset? (1) Weekly [

]

(2) Every 2 weeks [

(6) Every 4 months [

]

]

(3) Monthly [

(7) Every 5 months [

]

]

(4) Every 2 months [

(8) Every 6 months [

]

]

(5) Every 3 months [

]

(9) Other ………………………….

A10. There are a number of equipments or tools (items) that you either use in your business or would like to use to realize growth and better business performance, name the kind of asset(s) or equipment(s) you would be interested in leasing? (a) ………………………………………………………………………. [

]

(b) ………………………………………………………………………. [

]

(c) ………………………………………………………………………. [

]

35

A11. Why do you prefer these kinds of assets above? …………………………………………………………………………………………………………………………………. Business Management - Financials etc A12. In event of leasing an asset or equipment we would like to know if you have or done the following. (a) Bank account (Savings or Current or other with any financial institution) (1) Yes [ (b) Keep books of accounts (1) Yes [

]

(2) No [

(d) Certificate of incorporation/Business License (1) Yes [ ]

(f) Additional security (1) Yes [

(2) No [ ]

]

(2) No [

(2) No [

(i) A witness to contract signing (1) Yes [ (j) Sound business premises (1) Yes [

]

]

]

(2) No [

]

(2) No [

]

(2) No [

]

(2) No [

]

] ]

] ]

(g) Bank statements for the last 6 months (1) Yes [ (h) A business plan (1) Yes [

(2) No [

]

(c) Lived or worked in the area for 2 years or more (1) Yes [

(e) Audited accounts (1) Yes [

]

] ]

(2) No [

] (Subject to researcher’s observation)

A13. In case you leased an asset how else would do you think you would pay back or finance it besides productivity from the asset itself? The HOW (1) Yes (2) No (1) Pooling money from savings groups (ROSCAs) (2) Contribution from relatives or spouses (3) Personal savings (4) Buying on credit (5) Village Bank (6) Other – specify ………………………… General Comments A13. In event of collaborating with a financial institution and equipment supplier on matters regarding Micro Asset Leasing, what would be some of your expectations in this experience? ………………………………………………. A14. We would like to know the likes or dislikes for leased micro assets especially people you know who have obtained these kinds of assets (If any). 1

Likes

1

2

2

3

3

4

4

5

5

Dislikes

36

A15. Any other comments on how Micro Asset Leasing should be managed or approached to benefit small businesses? ………………………………………………………………………………………………………………………………….

37

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38

Appendix C: Interviewer Introduction Letter

!

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1st April 2008 Dear Sir/Madam, RE: To Whom It May Concern This is to introduce to you…………………………………………………………………., who is conducting a survey to determine the need for Micro Asset Leasing Services amongst small business operators. The survey is intended to identify possible areas for leasing and also identify the kinds of items or equipment small business operators are interested in and if possible examine reasons as to why they prefer them. The above named person has been oriented in basic research ethics and courteous behavior. He will interview voluntary respondents. Any assistance given to him will be highly appreciated. We thank you for your assistance. Yours sincerely,

Consultant

39

Appendix D: List of Respondents and Respondent Institutions $5( >

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40

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41

Appendix F: Field Survey Guidelines for Research Assistants FIELD GUIDELINES

1. Field Movement Plans – Survey Locations and Expected Quotas Total No. of Respondents

Day 1

Survey Locations

50

Mukono Jinja

50

Kampala 1

50

Kampala 2

50

Masaka Luweero

Day 2

Day 3

Day 4

Mukono Town/Seeta Jinja Municipality Entebbe Nakawa Division Makindye Division Kajjansi Kampala Central Rubaga Division Kawempe Division Wakiso TC Masaka/Nyendo Luweero/Wobulenzi

2. Demographic Expectations per Research Assistant

No. of respondents for each location 25 25 12 13 13 12 13 13 12 12 25 25

No. of Research Assistants

2 2 1 1 1 1 1 1 1 1 2 2

Age – Must be 18 years and over Respondent involved in operating a small business of any acceptable kind mainly, or operating a small business with plans to expand. Gender expectations – 50% male; 50% female ratio Respondent – must be willing to respond (voluntary), if one is not willing when approached for an interview, find a suitable replacement (Do not over plead to get an interview with someone) Each assistant is expected to do 50 complete questionnaires with concrete answers covering a number of locations as stipulated in the above plan. This means that in order to achieve this, you may have to interview slightly over 50 people, and this also means that you will carry extra questionnaires. On top of the 50, you may need to add an extra 10. 3. Sample The respondents will selected randomly basing on the above criteria. This means that respondents will sampled be using the judgmental sampling method. 4. The approach When you approach a potential respondent, you are expected to greet them first, and then state purpose of your visit. Before you start the interview, brief them and explain what you are doing, when they have understood then questions can begin. Assure them that what you are doing is aimed at understanding what people need to grow their businesses. Tell them that what they tell you will be treated with confidence.

5. General Notes Ensure that you write down survey location, interviewers name, date of interview Go to survey locations as instructed Take some general notes about other issues that may arise during the investigation plus challenges faced in general terms in the exercise. Ensure that you fill in the Time Sheet provided by the Supervisor

42

Appendix G: General Description of Equipment (%(:$ ,: *+((H,. 5(%';+.%),+':< + ( ./. (H,. 5(%' * 2

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