Sponsor Microfinance: Empower Small Businesses

 
£8,239
£5,866
Raised
Remaining
Time left to give:

Summary

This project empowers individuals in Africa who are interested in developing their small businesses. It helps them break the cycle of poverty and boosts economic development through 2 key areas: business management training and microfinance financial assistance. This support helps them effectively start and grow their small businesses. Priority is given to youths and women. Small businesses are the life-blood of African economies and this is a great way to bring change and boost economies.

What is the issue, problem, or challenge?

Thousands of youths and adults struggle to find a meaningful existence and are living below the poverty line. They are exposed to the temptations of resorting to a lifestyle of vices and destructive occupations. They need help and a viable path to self-sufficiency. These visibly unemployed youths can be found in the streets of Sierra Leone's capital Freetown and other urban centers. Many of the pre-conflict conditions that helped fuel the youth's participation in the rebel war still exist.

How will this project solve this problem?

This project provides foundational training in entrepreneurship and business capital to participants. This helps them to start or expand their businesses, become self-reliant and also employ others. Young people can venture into several initiatives such as tailoring, retail, catering, gardening, food cafe's, soap making etc. Income from these businesses ranges from supplementary income to instances where this is the sole income for families. This helps families become self-sufficient.

Potential Long Term Impact

Individuals and small businesses are able to move from living in deprivation to barely making enough to meeting their basic needs (living from hand to mouth) to a point where they will expand, provide employment, and contribute to national development. As more people are able to create employment for themselves and their family, there will be a drop in the overall crime rate of youths. This will result in a stronger and more self-sufficient and stable society.

Funding Information

Total Funding Received to Date: £8,239
Remaining Goal to be Funded: £5,866
Total Funding Goal: £14,105

Additional Documentation

This project has provided additional documentation in a PDF file (projdoc.pdf).

Resources

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Organization

Develop Africa, Inc.

Johnson City, Tennessee, United States
http://www.developafrica.org

Project Leader

Sylvester Renner

President, Develop Africa
Johnson City, Tennessee United States

Where is this project located?

Map of Sponsor Microfinance: Empower Small Businesses