Governments like our own are exploring the power of micro enterprises to tackle the troubled economies in sub Saharan African nations, so that finances are shifted towards the private sector to modernize national economic structures.
A micro enterprise is a small-scale business that is run by one individual with less than six employees. These small businesses have the power to expand the private sector in a financially feasible way. Examples vary, but can include anything from selling handicrafts to an in-home catering company. And due to a lack of formal sector jobs in developing nations, individuals with a skill or craft are able to earn a sustainable income.
That’s why in the least developed nations where aid dependency is highest, donors are shifting their emphasis in development towards youth and the private sector. The promotion of youth entrepreneurship has become a priority in many nations to ensure young people can make their own living in sectors outside agriculture and subsistence farming. Various studies show how micro enterprises have positive results in improving the incomes of individuals and the overall economies of developing nations.
For example, Bridget, a recent art college graduate from Uganda, is one individual who has found success in micro enterprises. The eldest of 10 children, she grew up with her parents and siblings in a small town, but after the death of both her parents, they had to move to an even smaller village. Bridget eventually had to leave school in order to find work to support her younger siblings.
Having learned the art of crafting in primary school, she started making handbags out of banana fibres found around her neighbourhood. Eventually, she began to earn enough money to go back to school and support her siblings’ educations. After completing secondary school with her own funds, Bridget received a scholarship from Beautiful World.
The creation of her crafted items has lead to a sustainable career. In the future, Bridget plans to teach the micro entrepreneurship skills she acquired in college to others in her community and show them a different way of life that can provide financial independence.
Find more information at www.beautifulworldcanada.org.