Best Ideas 2019 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.
THE BANK FOR ENTREPRENEURS.
Explain your idea in details:
MAIN OBJECTIVES.providing startup capital loan to entrepreneurs with feasible business plans.providing scale up loan to existing businesses.ACTIVITIES.loan provision Account opening for those who obtain loan from us.Business guide and monitoring. INNOVATIVE APROACHES.Our innovative approach is' provision of startup loan to entrepreneurs with feasible business plans'. This is very innovative because according to research held by us, there is no single bank willing to take a risk of providing loans to people without business,lather their focus is on people with existing business. But where do we expect people with just business plan without capital get their capital?. This system of providing startup capital is very risk and banks are not willing to take the risk,but we at umunthu we believe that the higher the risk the greater the benefits. This system will get a total 100% of the banking market hence the willingness to take the risk.Our main target are the entrepreneurs with feasible business plans. It's no news that the world is facing problems of unemployment hence umunthu is ready to create decent jobs for all and economic growth for Nations. Taking part in addressing SDG 8Umunthu's approach will be the best because the problem of high unemployment rate will decrease because entrepreneurs will have hope. This is the answered prayer for frustrated young entrepreneurs. Umunthu finance bank ,the bank for entrepreneurs is the hope for entrepreneurs.
Expected impact of your idea on sustainable development
EXPECTED IMPACT OF THE IDEA ON SUSTAINABLE DEVELOPMENT.The Bank for Entrepreneurs will not be a once off thing, this bank has come to stay forever,for future generation. The idea will demonstrate that it's possible to invest into plans and benefit the nation after all not all businessea with large capital are sustained,some fails even in stage 1,so why not taking the risk for years .The idea is targeting a forever group,the young entrepreneurs ,who turns to be the future of the nation. So by investing in them,we are investing in future.Expected impacts include: Endless creation of job opportunity .rapid increase in economic growth of Malawi and other nations where we are going to open our branches in the future.MEASURES TO EVALUATE SUCCESS.The Bank will put in place measures to evaluate success. These method include ;the customers(entrepreneurs will have to open an account with our bank so that we see and track the growth of their businesses.Site visiting by professionals.increase in number of entrepreneur's accounts being opened will help us to know that the idea is working.
Plans for implementation and sustainability
IMPLEMENTATION AND SUSTANABILITY PLANS. DESCRIPTION OF BUSINESS MODEL.entrepreneurs with feasible business plans will visit the bank with business plans to seek loan,from there bank will evaluate the feasibility of the plan.Secondry if the plan is deemed feasible,the bank wil proceed with loan approval. once the loan is approved,the bank will monitor the business until it pays off all the credit. This model will be the same for entrepreneurs who apply for scaling capital.FINANCING SOURCE.For the first few years, the bank will relay on grants and investors funding for its finances until it is off the ground and start making money.
I am Lucia Sandram, a Malawian Female citizen aged 29.I hold bachelor's degree in Business Administration ,which I majored in Marketing And Advertising.I was born an entrepreneur because I started solving problems at the age of 11 when I was in secondary school,i used to sale items to my fellow students to make money ,and providing solutions of course.I am very focused person and I am not afraid of my big dreams. I am very determined for success.Focus ,Determination and Confidence are the main sources of my success.