Economically Educate to Economically Empower
Published on July 3, 2014 um 17:46
Summary of your idea
The idea is to set up a consulting firm that will offer financial and business development advisory services to micro, small to medium enterprises in Zimbabwe. Most developing countries have a dependency on foreign direct investment for them to be able to utilise the resources that they already have. When this foreign direct investments are not forthcoming as is the current situation in Zimbabwe, the masses suffer. I have noticed though, that, amongst the masses, there are entrepreneurs who have brilliant ideas but have neither the business acumen nor the financial means to turn their ideas into reality. The consulting company, a non profit making entity, will aim to fill in this gap. It will provide business training and planning, implementing and monitoring services amongst others to the micro small to medium enterprises. In addition, the company will also offer corporate finance and financial advisory services and will be responsible for raising capital to fund the entrepreneurs projects. The country is in a dire need to create employment. In the first 6 months of 2014, over 2,000 people have lost their jobs due to the economic challenges that large organisations are facing in their operations. The key is to start all over again, start small and let the firms grow.
Expected impact of your idea on sustainable development
The main objectives for this idea is to create employment through creating sustainable and economically viable micro, small to medium enterprises. The ultimate goal would be to fight poverty and empower people economically, and move away from dependency on donor aid in form of food and clothing. This idea is expected to create over 5,000 jobs and impact over 25,000 lives in the first 5 years, with the potential of doubling the numbers in less than 8 years. The average cost per job created is estimated to be $775 over the five years, but will be decreasing each year such that the estimated cost per job created in the 5th year will be half of the average cost. The costs are expected to decrease logarithmically in the years after the fifth due to the basic laws of large numbers. The impact of this project on the economy will be immeasurable, especially considering how the unemployment rates are increasing exponentially in Zimbabwe. This idea will have an agricultural bias in the first phase. In this way, we can fight both unemployment and hunger.
Plans for implementation and sustainability
The business model will first focus on fundraising. The key sources of funds will be donor organisations, companies willing to give back to the community and investors (especially venture capitalists). Once the funds required to start the first phase have been raised, the company will be set up through the recruitment of a team of specialists. A call and evaluation of agribusiness proposals will be done with the most sustainable and economically viable projects being financed and advised to their maturity. The maturity stage is when the projects become independent of the advisors, and the entrepreneur has attained the skills the manage on their own. Even after maturity, the projects will be evaluated at least once a year.
I am a 28 year old Zimbabwean lady and I am passionately driven by the desire to bring change into the world in which I live. I am especially interested in the eradication of poverty and the minimization of unemployment in Zimbabwe, Southern Sahara African Region and Africa as a whole, through the empowerment of women in business enterprise. It is my desire to contribute significantly to the growth and sustainable development of small to medium enterprises in the regions mentioned above, as I believe these are the some of the key vehicles to be used in the achievement of the desired results. I am an actuarial analyst and I have extensive experience in investment analysis, financial product development and maintenance, budgets and budgetary review, enterprise risk management, project management, corporate finance and financial advisory. I want to use my skills to achieve my long term goal. Traditionally, actuarial analysts will work for insurance and investment companies but in this environment, I do not feel I am making a real difference. Through this company, I know I can. I am also quite the professional, I work hard to achieve my goal. That said, I have a warm personality with a big heart. I like to help people make their dreams come true; that is my dream come true!
Stage of Idea
conceptual stage, planning stage
Your idea has a positive impact on
food security, poverty reduction, sustainable trade, empowerment of women
The warm hearted professional