An Assessment of the Intervention of the Trade Liberalization Strategy in Promoting Private Sector-Led Growth in Bugisu Sub-Region

Abstract

The study was about an assessment of the intervention of the trade liberalization strategy in promoting private sector led growth in Bugisu sub region. The study objectives were; 1). To examine the economic management systems employed by the business entrepreneurs in the Bugisu sub region. ii) To assess the level of private sector led growth in the sub region and iii) To assess the impact of the intervention of the trade liberalization strategy to people’s welfare in the sub region. This study used a cross-sectional research design in order to collect a substantial amount of data on the intervention of trade liberalization strategy in promoting private sector led growth in the Bugisu sub region. The findings indicated that promoting private sector led growth through the intervention of the trade liberalization strategy in Bugisu sub region is rather still challenging. This is because of inadequate resources, inadequate trainings, complex procedures characterized by bureaucratic impediments and inability to adopt modern technology. Equally important is the poor capital levels among local entrepreneurs, wanting management skills and information gap about the existing markets. Above all high dependence rate, poor marketing strategies, poor policy implementation and limited participatory planning were noted as serious challenges and thus the need for redress. Based on the findings, it is therefore recommended that there is need to provide adequate resources for facilitation of entrepreneurial activities, regular training, tax holidays and reduced interest rates. It is also important to provide adequate information to entrepreneurs, minimize bureaucracy, boost the existing entrepreneurial capital levels and enhance the use of modern technology. There is also need to sensitize entrepreneurs about marketing strategies, streamline policy implementation and cultivate a spirit of family planning among local entrepreneurs to minimize dependency. This may go a long way in streamlining the role of community mobilization in as may go a long way in promoting private sector led growth through the trade liberalization strategy in Bugisu sub region.