Description:
The Savola Group’s Bridge for Micro-financing for Entrepreneurs enables private sector development, enabling entrepreneurs to start and grow businesses which can create jobs and income, stimulate innovation and provide more and lower-cost choices for consumers. The Group will help needy adults start or expand their own small business.
Objectives:
To help bring innovative business ideas to life
To give young starters a chance to become financially independent
To encourage sustainable micro-businesses
To also create new jobs in the process
To strengthen the local economy
To promote equality and diversity in business development by actively engaging disadvantaged groups, including women and special needs cases.
Methodology:
Savola will offer its services in the following areas in order to co-guarantee small business loans for local entrepreneurs:
Business Consultancy
Recruiters
Trainers
Market Research
PR
Monitor the development of the program
Partnership:
The partnership will be between The Savola Group and JCCI, Saida Khadija Center, Kuaa Amlaa, and any other government or private organizations that are in line with Savola Bridges
Stakeholders:
The community
Government and Key Officials
Potential entrepreneurs
Media
Resources:
Savola expertise (Finance and Administration)
Training
Pamphlets, applications
Selection Committee
Success Criteria:
Number of approved applications
Impact of business on its own stakeholders
Turnover and profitability
Timeframe:
Depending upon the nature of the initiative - - up to 3 years with the 1st year putting the business in action.
