In an effort to conserve the environment while providing good, environmentally friendly livelihood activities, Caritas Freetown provide training for 30 men from the Kolleh Town and Cockle Bay communities who are transitioning from environmentally harmful livelihood activities to start up small-scale businesses.
A comprehensive training on small-scale business management and Village Savings and Loan Associations (VSLA) establishment and management was done for the 30 men from the Kolleh Town and Cockle Bay communities.
Training Objectives and Content
The training was designed to equip participants with the essential skills needed to start and manage successful small-scale businesses.
The facilitated topics include:
* Business Development Skills: This section covers fundamental concepts of entrepreneurship, including how to identify viable business opportunities, create a business plan, and understand market dynamics.
* Profit Maximization: Participants learnt practical strategies for managing finances, minimizing costs, and pricing goods or services to ensure profitability.
* Navigating Loss and Risk: A crucial part of the training was teaching beneficiaries how to prepare for and manage business losses, and how to take calculated risks to foster business growth. This includes developing a resilient mindset and an understanding of contingency planning.
* The Role of Village Savings and Loan Associations (VSLA): This component of the training was essential for financial empowerment. Participants learnt how to self-manage the establishment of VSLA groups, typically composed of 15 to 25 members, pool their savings, which then become a source of small, affordable loans for members to invest in their businesses or handle emergencies. This model enhances financial inclusion and promotes community economic development by:
* Fostering a Culture of Saving, Providing Access to Credit, and Building Community Cohesion. The VSLA framework operates on mutual trust and collaboration.
By combining business development skills with the practical, community-driven financial support of a VSLA, this training program empowers these men to create sustainable livelihoods, reduce their reliance on environmentally damaging activities, and contribute positively to the economic well-being of their communities.
The small-scale business start-up grant was distributed to the 30 male participants at the end of the training.
