Youth Employment through Microfinance and Entrepreneurship
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My project idea is youth employment through microfinance and entrepreneurship. The project has the object of supporting youths to obtain decent jobs by capacity building through microfinance support and entrepreneurship education. The support and service given intend to impact 1100 jobs for youths in 5 years.
Tell us about yourself/your team.
My name is Perecy Paulo Ugula, male with 37 years by 2nd December 2012.
I hold a BSc in Agriculture. I am the owner and founder of the GOC CO. LTD, a consulting company in entrepreneurship, microfinance and other social development sectors.
I have just completing a training to become an E-Coach through the Youth Entrepreneurship Network-marketplace; the step to add my competence in entrepreneurship facilitation skill through my employer.
I formerly worked in the cooperative microfinance sector, while I served a poor communities in financial services.
Through my consulting company, I do provide consultancy services, by working with various development partnes in areas of business development services, marketing, business plan preparation and business management skills.
What makes you an intrapreneur? What are the skills, capabilities, and personality traits that make you an intrapreneur?
My ambition was to register and own a company that will work with masses of development partners: THE IDEA WHICH CAME TRUE!
This internal desire was first ignated by various entrepreneurship training I did attend during my academic achievement and career work.
The Entrepreneurship Workshop Training I obtained through UNACTED; and Entrepreneurship Eduction Training (EET) ToT programme though VETA and Triodos FACET made me a competent National Master Trainer in Entrepreneurship.
The programmes added capabilities and entrepreneurial competencies in risk taking, systematic planning and goal setting, opprotunity seeking, self confidence, and other intrapreneurial traits.
About Your Organization
Primary country where this project is creating social impact
Additional countries or regions
Professional, Scientific, and Technical Services
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Select the stage that best applies to your solution
Idea (you're poised to launch)
The Need: What social or environmental problem are you trying to solve?
There is higher levels of unemployment among young people to about two to three times higher than among the adult population; which has been causing many problems experinced by youths from lack of employment.
Thus, there is a need for programmes and projects to contribute on the efforts to reduce or eradicate the problem of unemployment to youths in Tanzania; and otherwise in other countries; both the developed and developing countries.
It is the wider goal of the this project that, the project build capacity of youths employment through microfinance support and entrepreneurship education.
The Solution: What is your solution? Be specific!
In order that the project solve the mentioned above problem, by impacting "1,100 youth jobs", the following solutions has been thought to be implemented:-
(1) To train effective entrepreneurship education through competence based approach. (2) To support business start-up of the identified youths through microfinance services. (3)To link the identified youths with financial institutions and other development stakeholders. (4)To create a result based monitoring and evaluation system.
The Solution: Why is this solution innovative for your company and industry?
Entrepreneurship education is now widely provided; but leaving various gaps to various community groups.
The mentioned solution will be used to reinforce the entrepreneurial competencies for the realization of the desired impact.
The approach will include use of action learning method, business games, role plays, study visits and other methods which have remarkable orientation and impact in enhancement attitude and entrepreneurial behaviour for the participants.
The Model: Walk us through a specific example of how your solution makes a difference; include your primary activities.
The Marketplace: Who are your peers and competitors? Identify others also working to address the needs you are and what differentiates you from them. What challenges could these players pose to your success or growth?
This Entry is about (Issues)
Founding Story: We want to hear about your "Aha!" moment. Share the story of where and when the founder(s) saw this solution's potential to change the world.
On October 1 - 12, 2012, I was in a two weeks Entrepreneurship ToT training, being a facilitator of the programme. For the third times, the following question rang in my mind; Why is such a training not taken to the unemployed youths? The poor, the standard seven, form four and form six school leavers and drop outs? The vocational education trainees?
From that moment, I visited variuos literatures, reports, and text on youths. I came to read the "GUIDE to the Implementation of the World Programme of Action for YOUTH", which gave me an insight for the creation of the title of the project: "YOUTH EMPLOYMENT though MICROFINANCE AND ENTREPRENURSHIP".
My idea became firm, as I wanted to link it with objectives of my consulting company the GOC CO. LTD, and country's development plans, policies and strategies; that while making the company's profit, but my greatest ambition is to witness that masses of marginalized youths have developed and their potentials taped for national growth.
What has been the impact of your solution to date?
Nothing so far has been recorded as a direct impact of the project's objectives to the target group; however, a project's concept paper has been written, and I am in the stage of identifying interested development partners to work with this project; that is why I have taken this idea to this competition.
What is your projected impact over the next 1 to 3 years?
YOUTH EMPLOYMENT through MICROFINANCE AND ENTREPRENEURSHIP (YEtME) project is expected to be of five years ( 2013-2017).
For this period of time, the expected project's impact shall include to realize that:-
(1) 1,100 youths own their enterprises, thus employment.
(2) 1,100 youths are llinked to financial institutions and other development partners.
(3) Future problems associated with youths lack of employment reduced in respective socities.
What barriers might hinder the success of your project? How do you plan to overcome them?
Lack of interested and financing partners - if the concept is poorly understood and communicated.
(I plan to have pre-consultation meeting and advices from experienced persons on development projects like this one).
The exercise of identifying the needy might be corrupted by unfaithful leaders. (Transparency, involvement of financiers and local administration shall be used to identify the youths who have the qualification for the project requirement - that is, to identify youths who don't have employement, passed the selection test, provided feasible business ideas for support, and indicated a number of traits for success of their ideas).
What is the benefit or value you're creating for your business?
The benefit/value the business is cretating is in the following assumption that: if one youth has a sustainble business venture, GOC CO LTD shall have obtained a reputable outstanding; where then if masses of youths shall be in business undertaking from the idea of the project, the contribution of national growth from these economic activities shall create a value of productivity, growth, competitiveness and sustainability.
How are you leveraging internal resources (funds, time, knowledge, etc.) to support this initiative?
Currently GOC CO. LTD is taking and conducting small consultancy services, where the fees paid for these services are used for internal resources, like purchase of prepaid internet voucher, printing catridge ink, stationeries, and communications.
Expand on your answer, explaining the long-term funding and support plan.
The long term funding support for the project shall depend on the various consultancy services which shall be entered into contract with development partners in different sector by advising and designing programs to fill the gaps in various development sectors related with economic growth, reduction of income poverty and improvement of the quality of social livelihood, e.g. enterprises development of all categories, that is, small, medium and large enterprises in all sectors, both in urban and rural areas.
In every fund received from the consultancy services contracted, certain budget shall be set to develop the project into different phases.
Tell us about your partnerships across your company and externally that are key to your project's success.
YEtME project is expected to be carried on in collaboration with VEDC (VETA ENTREPRENEURSHIP DEVELOPMENT CENTRE); which has an experience with ENTREPRENEURSHIP EDUCATION AND TRAINING project in Tanzania (www.mvttc.ac.tz).
I would like to use this Centre, which has moulded me to this capacity.
However, the Company shall also wish to collaborate with local government authorities like the Directors of district councils in Tanzania where the project shall be involved!
What internal support have you gotten for your project? What kind of push-back have you received?
No remarkable record so far!