Empowering Micro and Small Entrepreneurs Through Business Training
Challenges Faced by Micro and Small Entrepreneurs
Many micro and small entrepreneurs lack the basic knowledge needed to manage their businesses effectively, resulting in stagnation or bankruptcy. Due to limited education and adherence to traditional business practices, they are often unable to explore new ideas and opportunities for business improvement. Additionally, they are ill-prepared to face challenges such as the COVID-19 pandemic.
Interventions and Solutions Implemented
To address these challenges, a tailored 3-day business training course was provided alongside financial support. This training aimed to equip young women entrepreneurs (YWEs) with the essential knowledge and skills required to manage their businesses effectively and navigate through challenging situations.
Results of the Interventions: Impact on Target Beneficiaries
“I have undergone a significant transformation after the training. I have learned bookkeeping and started paying myself a salary. I feel more confident now and have also improved my Khmer reading and writing. Thank you, WELL, for allowing me to be part of this program,” shared Ms. Yoem Vanna, an egg seller.
“Before the training, I struggled with poor financial management, short capital, and debts. After the training and receiving financial support to increase my capital, I gained valuable knowledge on financial management. This has allowed me to carefully monitor my income and expenses, leading to improved sales. I now have the confidence to run my business better, despite facing challenges with egg supply due to my preference for natural and local suppliers. I prioritize selling high-quality eggs to ensure the health of my customers,” expressed another beneficiary.
Future Plans and Recommendations
Moving forward, training will remain a sustainable tool to enhance the quality of business management for YWEs. It will be an integral part of our strategic plans in future projects, encouraging YWEs to continue learning and developing their skills while implementing them in their businesses to standardize or expand their operations.
