The Business Competition Plan Project aims to mobilize entrepreneurs or potential entrepreneurs who have business ideas, are able to create jobs and can provide markets development, to participate in a program that will allow them to strengthen their capacities and access financial support to promote their initiatives.
Based on a strong training component and promoting linkages with Banks as well as with investors, the project ensures an intensive component in business development and competition oriented either to provide "knowledge" as to the "know-how" to empower participants with the resources that better enable them to implement their business ideas in their business area.
Framed within the Private Sector Rehabilitation and Agribusiness Development Project which is financed by the World Bank and aims at inclusive development of the agribusiness sector, it focuses in supporting the creation of new businesses, in sectors of economy other than agriculture, by addressing skills and access to capital constraints, as well as improving the climate for investments. It provides, in this context, the launch of new start ups that can equip budding entrepreneurs in Guinea Bissau with seed capital and managerial skills in order to launch sustainable new business ideas.
With potential resources that can contribute to its development – the country is wealthy in natural resources, biodiversity, fertile soil and a wide range of minerals - the project will identify sectors that can contribute to the promotion of business opportunities. The assessment will also focus on identify and detail previous entrepreneurship program and related projects - employment creation, private sector promotions - considering the lessons learned from this and other experiences in Guinea Bissau.
Among the various activities planned under this project, an Awareness Campaign is being developed aiming to attract suitable winnable entrepreneurs for the Business Plan Competition. Particular attention will be here given to young people and women.
The campaign will take place according to a communication and dissemination strategy, through the establishment of partnerships with radio, tv, web, Newspapers and, also, with strategic partners that could add value to it, such as public sector institutions dealing with economic development, youth empowerment, employment and also academics, financial institutions, associations, NGO’s etc.
To strengthen the capacity of local trainers and to generate positive long-term impacts an initial training will be organized. For that purpose, necessary tools to start a business will be available for all participants until it will be possible to ensure the viability of the business plan and the ability of its entrepreneurs.
Thematic workshops on concepts and sectoral technical procedures, business management, to promote social skills such as communication, self-esteem, negotiation, among others, will also be implemented throughout the project.
It is also expected that it will create links with investors and financial institutions; the organization of round tables and meetings will also contribute to the formation and consolidation of networks of entrepreneurs for all Guineans who have the will and investment capacity to develop new business opportunities.
The project is a partnership of CESO Development Consultants with INOVISA, Expertise and PD Consult and has a duration of 3 years.