Parth Project
The Transformative Potential of Micro Entrepreneurship
• Project Vision :
To inspire economically challenged, the differently-abled and those facing loss of jobs (especially from the informal sector) to start their own micro & small businesses, thereby creating sustainable livelihoods
To inspire economically challenged, the differently-abled and those facing loss of jobs (especially from the informal sector) to start their own micro & small businesses, thereby creating sustainable livelihoods
• Plan :
Provide Training, Handholding & Mentoring to enable these micro-entrepreneurs make their businesses viable, profitable & scalable
Provide Training, Handholding & Mentoring to enable these micro-entrepreneurs make their businesses viable, profitable & scalable
• Roadmap:
1. Training – Virtual & Physical Classrooms
2. Technical & Practical Exposure – Digital Content/ Downloadable Courses/ Case Studies
3. Scaling up & Expanding Reach : via Youtube Channel
4. Handholding: Mentoring Program
5. Access to Resources: Micro Business Incubator for select businesses
1. Training – Virtual & Physical Classrooms
2. Technical & Practical Exposure – Digital Content/ Downloadable Courses/ Case Studies
3. Scaling up & Expanding Reach : via Youtube Channel
4. Handholding: Mentoring Program
5. Access to Resources: Micro Business Incubator for select businesses
First course conducted at Chitnavis Centre Nagpur in June ‘19
21 Beneficiaries, 12 differently-abled and the others from economically
challenged backgrounds. 8 went on to complete the full course in September ’19.
challenged backgrounds. 8 went on to complete the full course in September ’19.
Key learnings on beneficiary expectations & competency:
• Inadequate clarity on source of funds, legal compliances or what a Business Plan entails
• Lack of access to Startup & Working Capital
• Market Demand & Consumer Needs: ideas for new businesses mostly because they have seen others doing it. Lack of Innovation.
• Many have real world experience & a willingness to start but have not studied business viability
• No plan on how to sustain & grow business: Marketing, Cash Flow, Accounting
What we need to address:
• Business Basics: getting ideas to start a business, first steps – test if business idea is viable
• Basic modules to cover different aspects of operating a business; Finance, Accounting, Marketing, Legalities etc
• Role Models/ Case Studies/ Best Practises
• Cost effective Marketing Strategies: Digital Marketing, Word of Mouth Publicity, Social Media
• Guide on how to prepare basic Business Plan
• Address underlying concern : where & how are funds available for Micro Entrepreneurs with no access to startup capital
