Micro-Enterprise

A Component of our Village Partnership Program

A microenterprise is a type of small business that is often unregistered. Microenterprises are particularly common in the developing world, where individuals lack collateral, steady employment, and a verifiable credit history and therefore cannot meet even the most minimal qualifications to gain access to traditional credit. They require a very small amount of capital investment, or in some cases merely startup supplies or inventory, and are designed to spur entrepreneurship amongst the very poor and ultimately break the poverty cycle.

Children of the Nations, in an effort to generate sustainable development in the four countries we partner with, seeks to provide opportunities and programs that grant individuals and groups access to credit that allows them to start up their own business ventures. This process empowers, challenges and educates whole communities.

The Widows Program, a component of our Village Partnership Program in Mtsiliza, Malawi, is an example of one of Children of the Nations' microenterprise efforts. The widows are trained in vocational skills such as sewing and knitting and are then given access to group loans to cover the start-up costs of small business ventures such as making and selling blankets and clothing. The women open banks accounts with Opportunity International and each women is required to save 25% of their sales.

Children of the Nations has recently launched a microfinance loan program in the Dominican Republic in partnership with Esperanza International, and hopes to do the same in Sierra Leone, parterning with other NGOs.

 

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