Green Entrepreneurship and Sustainable Business Practices: Insights from Eco-Friendly Startups in Uganda
Overview
Dr. Arinaitwe Julius and Dr. Kato Kimata at Avance International University published a study in October 2024. They explore how green entrepreneurship links to sustainable business practices among eco-friendly startups in Uganda. Global environmental issues spur these models. Climate change, resource depletion, and pollution urge startups—especially in Uganda—to act fast.
Environmental Context in Uganda
Uganda faces serious challenges. The study shows:
- Deforestation: The rate is 2% per year (National Environment Management Authority).
- Waste management issues: Poor practices lead to pollution.
These problems force companies to use resources wisely, cut emissions, and reduce waste for long-term health.
Role and Challenges of Eco-Friendly Startups
Eco-friendly startups in Uganda lead change in many areas. They work in renewable energy, organic farming, and recycling. Still, strong challenges remain:
- Funding difficulties: Venture capitalists and traditional investors wait for long-term returns.
- Policy hurdles: Limited support and strict rules slow progress.
These startups work hard to balance environmental care with survival.
Research Methodology
The study gathered clear data. It used two main methods:
- Quantitative: Researchers sent out questionnaires to 45 startups and got a 90% response rate.
- Qualitative: They conducted 20 in-depth interviews to gain deeper views.
Both methods bring the facts into sharp focus.
Key Findings
The study finds that money makes a big difference:
- Funding impact: Startups with $180,000 in venture capital and $137,500 in government grants adopted green practices faster. The access raised practices by a factor of 0.75.
- Entrepreneur motivations: Environmental worries boosted green actions by 125% and showed clear economic gains.
- Startup profiles: Larger startups (15 employees on average and $92,000 annual revenue) applied eco-friendly ideas more effectively.
Each finding builds on simple, clear links.
Implications and Recommendations
The research suggests that focused funding and clear benefits can boost green efforts. More support can break funding and policy barriers. Doing so will help in:
- Protecting the environment
- Growing sustainable economies
Using close word links makes these ideas easier to follow.
Global and Regional Significance
Green entrepreneurship aligns with global rules like the Paris Agreement and the UN Sustainable Development Goals (SDGs). UNEP reports green technology investments may top $3 trillion by 2030. In Africa, the African Development Bank expects over 12 million green jobs by 2030 in clean energy and sustainable farming. Uganda thus shows strong potential for eco-friendly growth.
Conclusion
Eco-friendly startups in Uganda form a strong base for sustainable business practices. Despite funding and policy challenges, they drive change. With better financial support and simpler rules, these startups can bring great environmental and economic benefits. Uganda may then serve as a model for sustainable growth in Africa.
Keywords: Green Entrepreneurship, Sustainable Business Practices, Eco-friendly Startups, Uganda, Environmental Sustainability, Venture Capital, Government Grants, Renewable Energy, Organic Agriculture, Waste Recycling.
Published in: Metropolitan Journal of Business & Economics, Vol. 3, Issue 10, October 2024
Contact: research@miu.ac.ug
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