GETTING A GOOD START

Many entrepreneurs struggle with having funds to start up their businesses. Organisations have tried to deal with this in different ways: giving out loans, start up grants, or material inputs.

To increase sustainabiliy and ensure that the business ideas are based on the participants’ own means we have combined the entrepreneurship trainings with savings - and loans groups.

Village Savings And Loans

The youth we work are mobilised in their entrepreneurship groups 5-6 months before the boot camp training begins. These groups are now formed and given training in the VIllage Savings and Loans Approach (VSLA), where the youth groups themselves start saving up. Over time they will also be able to take out loans. After 12 months the savings groups have a share out. They can continue the savings group as long as they want to.

In this way, the youth entrepreneurs will have access to funds to start up their business and they will also have funds to invest in their businesses or to ’save’ them if the business suffers any chocks.

The VSLA methodology is widely used and recognised and all materials needed to work with this can be found at: www.vsla.net.

You are also welcome to contact YEfL for consultations.

Enjoy becoming an entrepreneurial master!