Writing a Business plan – Financial literacy and entrepreneurship training

STEP partner Student Driven Solutions ran a session today with bursary holders in Mitundu on business planning.  The training sessions follow their classes in financial literacy, negotiation, marketing, and social enterprise.

Over the next weeks, the bursary holders will develop their business plans with support from Student Driven Solutions teachers and coordinators.

Chisomo Mgogo, Country Director of Student Driven Solutions, stated that many of the women already have small businesses but they need support to know how to expand or to change the direction of their business.  None of the women had developed previous plans and felt that the methodical way of addressing all business issues in one document was useful.

Each business plan includes a background to the business (number of employees, registration, production volume and gross sales), objectives, management plan, marketing and production plan, and a financial plan.  Some of the businesses include selling used clothes, farming, livestock and vegetables, or selling small baked goods.

STEP has partnered with Student Driven Solutions to offer bursaries for young women to participate in financial literacy and entrepreneurship training programme in Lilongwe district.