Embedded Files
Ola Fou views this as a livelihood project; a pacific wide income and job creation initiative that will help alleviate the high unemployment rate within the Pacific.
There is not the need to “reinvent the wheel” in this endeavour. There are already entrepreneurship courses available within the Pacific; expertise developed specifically for the region that Ola Fou can tap on without expending resources in attempting to develop its own curricula.
We feel the resources will be better utilised in developing a Business Development Service (BDS) to provide more specialised support for our budding entrepreneurs. The service will employ qualified staff to look specifically into the following:
1. Assistance in navigating the regulatory landscape
2. Value Chain Intervention for the new product and/or service
3. Marketing & Promotion activities
4. Social enterprise development
5. Scout for funding of promising business/social enterprise proposals
6. Networking with other entities to help pull product/service through the value chain
A World Bank Group (US) report on Business Development Services (BDS) [1] states:
… The field of business support has been growing alongside the SME development process internationally.
… Business development services are important because they can assist entrepreneurs to run their business more effectively and, if appropriately applied, can act as an enhancer of access to finance...
While Ola Fou accepts that the failure rate of start-ups are high, it is felt that with more tailored and specialised help, a higher success rate can be achieved. The higher the success rate of growing businesses the more income and jobs created. The general sentiment is that it is more important to ensure that professional support needs to be provided to budding entrepreneurs to help ensure the success of their endeavours; for the hurdles are many, and often insurmountable without the proper help.
Available Entrepreneurship Programs
The following programs have been identified and evaluated:
Know About Business (KAB) [2] – International Labour organisation (ILO)
o Currently taught as an academic subject in some schools
o We are in discussion with the local ILO representative and evaluating its suitability
Microeconomic Initiatives (MEI) [3] – International Committee of the Red Cross (ICRC)
o We are in discussion with the local Red Cross representative and evaluating its suitability
The MoneyMinded program [4] and MoneyMinded Business Basics for Small to Medium-Sized Enterprise (SME) – ANZ
o These 2 programs were developed by ANZ and aims to build the financial capabilities and business skills of micro-entrepreneurs in the Asia Pacifc region.
o We see the potential in these the MoneyMinded program has been successfully executed in a few Pacific Communities and its content have been adapted for local needs.
o The MoneyMinded Business Basics for Small to Medium-Sized Enterprise (SME) program was piloted in Papua New Guinea in April 2015 with 144 participants from Port Moresby, Goroka and Lae. ANZ is considering this program into other Pacific countries.
o We are in active consultation with ANZ representatives in Australia to carry the programs into the pacific.
The Pacific Islands Private Sector Organisation (PIPSO) was established in 2007 to promote the private sector’s role in policy making and to encourage business development through effective partnerships with governments, regional organisations, development partners and NGOs within the Pacific. Its headquarters is in Suva, Fiji. They are keen in taking us on as a development/network partner. PIPSO conducts regular courses in the following areas:
o Agricultural initiatives
o Entrepreneurship
o Business Finance (all levels)
o Business development
We feel the most suitable program(s) would be the ones offered by ANZ. We see the benefit of bringing the MoneyMinded program (a program that teaches basic money management skills)into the community first. This will be the grounding for the business skills training to follow. Currently, ANZ has agreed to provide Training of Trainers (TOT) courses to Ola Fou gratis.
Note:
Community inputs will be solicited during the community outreach process and this information will feed into the evaluation process. Proposals must have a community ‘relevance’ for them to get community support, which will enhance the possibility of success in execution and implementation.
The participation of community leaders will similarly help ensure ‘relevance’ and secure community support for the proposals.
Business Development Services (BDS)
A Business Development Unit will be formed under the regional Office to anchor the Youth Entrepreneurship Program into the local community.
The BDS will employ local graduate(s) and/or business people to oversee the service
The BDS will adopt the following Operating Principles as pillars of the service:
o Cautious Adaptation: Understand that the opportunities and challenges differ from entrepreneur to entrepreneur.
o Market driven: Assist budding entrepreneurs in locating markets with untapped demand, developing growth strategies to test and capitalize on these opportunities quickly and affordably
o Capacity Building: To provide the most relevant and effective training possible to enable entrepreneurs to navigate legislative and organizational challenges.
o Monitoring & Evaluation: Apply rigorous M&E practices so as to improve each programs effectivity and efficiency.
o Continuous Learning: Through networking with like-minded organisations and creation of an environment for collective learning.
~ ~ ~ ~ ~
Reference:
<https://www.ifc.org/wps/wcm/connect/f75ca3004885532cade4ff6a6515bb18/IFCGEM%2BBrochure%2Bsec%2B5-6.pdf?MOD=AJPERES&CACHEID=f75ca3004885532cade4ff6a6515bb18> Referenced 26 February 2018
<http://www.ilo.org/moscow/areas-of-work/employment/WCMS_249438/lang--en/index.htm>
<https://www.livelihoodscentre.org/en-US/web/livelihoods-centre/-/microeconomic-initiatives-handbook>
<https://www.anz.com.au/about-us/sustainability-framework/financial-wellbeing/moneyminded/>
Page updated
Google Sites
Report abuse