Increase family income through business development
Bring entrepreneurship skills to Ayalagaya and Arri
There is no lack of motivation among the people in the communities we support. There is a very entrepreneurial spirit. Most families survive on subsistence farming and livestock, but there are lively monthly markets for commerce. Unfortunately, many small businesses fail as entrepreneurs and farmers have little to no understanding of business skills: cost structure, cash flow needs, market opportunities or saturations, competitive analysis, customer retention, etc. Karimu wants to bring these skills to our rural communities, not only for existing business people, but also for young adults who will not have the opportunity to pursue an advanced education.
Karimu has found a partner in Street Business School (SBS) who is also aligned with our mission of ending poverty. They specialize in entrepreneurship training for small businesses in rural areas. Originating with paper bead businesses in Uganda, they have now focused on entrepreneurship training and expanded their reach world-wide through a network of partners who deploy their curriculum. Their results are very impressive: 80% of graduates from their 6 month program have at least 1 business 1 year after graduation and graduates have more than doubled their income after 1 year! Karimu plans to bring this training and its results to Ayalagaya and Arri wards.
Karimu sent two staff to Uganda in November to become Certified Lead Coaches in the Street Business School curriculum. We will begin training in May 2022.
May 2022 update: We have selected the 1st class of 30 participants. They are a diverse group including 1/3rd women, 1/3rd young adult (under 35), and 1/3rd having no existing business. The course kicked off in April with baseline coaching visits to understand their current situation and aspirations and the first training began in May.
Our key goals for the project are to
Train 25% of households in entrepreneurship skills (a multi-year project) so that skills can be learned through local mentorship.
Graduate at least 25% of participants who are young adults (under 35) providing local career opportunities
Replicate SBS impact such that
80% of entrepreneurship graduates have own 1 or more businesses 1 year after graduation
Double annual income 1 year after graduation
We see this project dovetailing with our other financial services program projects and with income projects currently being defined.
Increased family income
Retention of youth in the local area
Karimu cost - $15,570
Community - All expenses for their businesses