LEASUP System

LEASUP System

owerri, Nigeriaowerri, Nigeria
Organization type: 
nonprofit/ngo/citizen sector
Project Stage:
Idea
Budget: 
$1,000 - $10,000
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

a financially cooperative system,that unionize and develop people within a community to see to the affairs of each other. It's also a system that seek to popularize and attract the interest of external organisation.

About Project

Problem: What problem is this project trying to address?

We are eradicating the major vices that cause the fall of most small scale business The issue of finance, The requirement of communion service and team participation The Skills and practical technics needed for business growth The cash flow system of the small scale business within Imo state, Nigeria. This system is meant to address the financial difficulties facing most small scale business in underserved communities. From experienced, I have come to realize that most of the small businesses that fails within Owerri metropolis, happen because they don’t practice capital circulation or advancement (channeling the capital back into the business and also increasing the capital base) because daily we are meant to satisfy our human necessities like food shelter, cloth, medicatio

Solution: What is the proposed solution? Please be specific!

Our SOLUTION is tag '’LEASUP’’, a financially supportive system. LEASUP is a system that brings different small scale business together, with the sole aim of educating and fostering the development of each of its members. This system work by creating a means of bringing small scale entrepreneur together, they come together and contribute and equal amount of money, this money is then used to purchase goods for 10% of the members. On monthly basis they come together to share their problem and challenges,or a seminars will be organized for the members, to help motivate and tackle their areas of difficulty in their respective business.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

-20 or more small business owners comes together and each bring about $100 (the amount should be easily affordable by each member); thus fostering unity and cooperation among people within a locality - We will use the acquired $2000 to purchase good for 10% of her members; Hence providing sufficient capital base, for each participating business. - The good in need by those members are purchase or supplied in bulk from the producer; thence, we are integrate the small scale businesses to a higher chain of supply. - The next week the $100 is paid by each member, and we use it to purchase good for the next 10% of her member; there by channeling their profit and capital back to enhancing their business. - The process continues still the last 10% receive their commodity. For each next stage of this system, (10 weeks after successfully circulating commodity worth $2000 to each 2 members of the union), the next stipulated amount would be $150 for each participant (hence increasing returns); As the goods are purchased in bulk, so will their profit increase. Periodically (monthly) seminars or a social gathering will be organized for the members, to help motivate and tackle their areas of difficulty in their respective business. This help in bringing new trends and advance means of solving their individual challenges.
Sustainability

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

There are organizations also working towards associating workers together, like trade unions, but theirs is for employees and only seek to protect their right. LEASUP system moves forward in educating and sustaining the cash flow of its participants. There are also networking companies like FOREVER living product, GREEN world, which helps network people together and seek to help in financing their future. These companies reputable companies, but LEASUP is distinctive in its approach, it seeks to maintain daily/weekly cash flow, and also requires little finance from participants. It also protects futuristic needs, by constantly increasing business profit as the stipulated amount increases.
Team

Founding Story

the inspiration came while discussing with a friend.
About You
Organization:
Student In Free Enterprise
About You
First Name

Henry

Last Name

Asapokhai

About Your Organization
Organization Name

Student In Free Enterprise

Organization Country

, IM, owerri

Country where this project is creating social impact

, IM, owerri

Age of Innovator

18-34

Gender of Innovator

Male

How long has your organization been operating?

1‐5 years

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Innovation
How long have you been in operation?

Still in idea phase, but looking to launch soon

Social Impact
What solution(s) does your initiative address to help emerging entrepreneurs and small businesses grow and thrive in underserved communities? (select all applicable)

Access to financing, Access to supply chains, Access to economic opportunity.

What has been the impact of your solution to date?

we are still in the concept stage

What is your projected impact over the next 1-3 years?

We should have engaged about 500 graduates and also must have incorporated 50 groups of 30 participants in each.
We should have enrolled the entire Owerri political zone’s small scale businesses, into LEASUP system.
We should have sufficiently enlighten participants on favorable business practices and environmental safety

What barriers might hinder the success of your project? How do you plan to overcome them?

The challenges which most of individuals have undergone, in some misguided systems, might make them reluctant toward abiding towards a new kind of financially supporting system.
-Trust worthiness of participants towards ensuring that they comply with the weekly payment of this system
-Number of participants willing to enroll in this program should be high.
This barriers is expected to diminish, when
The identity of intending participants are taken and their location verified
Dues are paid by participants use in providing amenities and also in enlightening of participants.
Lastly adequate publicity will be made to ensure more people are aware of this program and its important.

Winning entries present a strong plan for how they will achieve and track growth. Identify your six-month milestone for growing your impact

ORGANIZING THE SYSTEM

Identify three major tasks you will have to complete to reach your six-month milestone
Task 1

AWARENESS

Task 2

PRODUCT PURCHASE

Task 3

Enlightenment of participants

Now think bigger! Identify your 12-month impact milestone

EXPANDING AND MAINTAINING LEASUP SYSTEM

Identify three major tasks you will have to complete to reach your 12-month milestone
Task 1

RADIO AND TELEVISION BROADCASTING

Task 2

ENVOLVING THE NIGERIA GOVERNMENT

Task 3

PARTNERING WITH ADVISARY FIRMS

Sustainability
Tell us about your partnerships

The union is meant to partner with top production firms like indomie noodles NIG. LMT, nestle NIG LMT, since it purchase in bulk. It also will partner with advertising firms like Radio Nigeria, Cool FM and Nigeria Television Authority. There will also be a need to incorporate advisory firms to help educating the participant on the modern trend of their business activity.

Please elaborate on any needs or offers you have mentioned above and/or suggest categories of support that aren't specified within the list

I can help improve the innovation of others by supplying ideas.
If an idea satisfies my interest, I can be willing to make donation/invest toward its realization
we can collaborate with resourceful group for mutual benefits.

randomness