Entrepreneurs Crowd Funding

The programme will be opening four web-based crowd funding windows, every year, each for Regional Block1 (comprising Eastern, Lusaka and Muchinga provinces) Regional Block2 (comprising Central and Northern provinces), Regional Block3 (comprising Copperbelt, North-western and Luapula provinces) and Regional Block4 (comprising Southern and Western provinces); where clubs will be posting their business proposal concepts to attract funding. Regional Block1 (comprising Eastern, Lusaka and Muchinga provinces) window opens and runs from 1st January to 31st March, Regional Block2 (comprising Central and Northern provinces), window opens and runs from 1st April to 30th June, Regional Block3 (comprising Copperbelt, North-western and Luapula provinces) window opens and runs from 1st July to 30th September while Regional Block4 (comprising Southern and Western provinces) window opens and runs from 1st October to 31st December. Eligible clubs will be requested to submit a maximum of four (4) paged business concept notes with a budget not exceeding US$150,000. Club members not in that particular window will be obliged to donate towards any business concept note that interests them. Apart from contributions made by national alumni members, concept notes also will attract crowd funding from individuals and organisations around the world that are passionate about solving world problems and contribute to poverty reduction.

Operational and Management Strategy

The programme will be managed and implemented by SGM – Entrepreneurs Development Circles through Entrepreneurship Clubs which will be formed at all the benefiting learning institutions and in various communities in Zambia. The Chief Executive Officer will have the overall responsibility of the project; and will be reporting to the board. However, the project will be coordinated by SGM – Entrepreneurs Development Circles National Programmes Director who will be responsible for implementation with support from Provincial Programme Coordinators and institutional based facilitators.

Capital Building and Saving culture Encouragement

This will be achieved through the monthly training fees every club members will be paying. While these savings will help members to build capital for their future enterprises, the practice also cultivates a sense of saving and instills financial discipline, a critical characteristic of an entrepreneur.

Mentorship/Coaching

The project will identify successful entrepreneurs or business professionals from the business community and attach them to the clubs. These will act as their agents of change who will be providing regular motivational and inspirational talks. Mentors or coaches will also be supplemented with well selected videos of successful entrepreneurs from around the globe.

Skills Application

The first point of skills application will be negotiated opportunities for students in colleges and universities to be given privileges of running businesses in institutions. These businesses will include service and product provision such as tuck shops, carpentry, tailoring, welding and metal fabrication, chemists/dispensaries, business centers, crop and livestock production mechanics shoe making and mending, electronics. These will be conducted as part of extra-curriculum, and students will be taking turns in managing the businesses as guided by the duty roster that they will have developed in order to respond to school/college/university demanding life. The other point of skills application will be industrial placements facilitated by the project and its stakeholders/partners. This will be applicable to both Entrepreneurship Club Members in learning institutions and those at public/community level. Those in learning institutions will be taking advantage of holidays.

Enterprise Development

This is the ultimate purpose of the project as it seeks to create jobs and wealth for the people. Therefore, the project will facilitate establishment and registration of business enterprises either with Patent and Company Registration Authority - PACRA or with Ministry of Commerce Trade and Industry as Cooperatives. The companies that will be formed will start businesses that they will have defined in their business plans developed during the training. These business enterprises will be formed by 15 programme beneficiaries as shareholders/company owners.