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

• Plan :
  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

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.

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