We know the value of business training from our Small Business Fund program. Grant recipients are trained in marketing, record keeping, risk management, and planning so that they are well prepared to start their small enterprise. This helps them find the right product for the market and make sure their businesses will be profitable.
Seeing the confidence that people have after the training, I am so excited to announce our new partnership with Junior Achievement (JA) to train high schoolers in Malawi to be entrepreneurs! The JA program is being run in 120 countries around the world, including 16 in sub-Saharan Africa. Nick Vilelle saw the “mind-blowing” benefit of the JA Company Program in Swaziland and is eager to introduce it to students in Malawi.
The Company Program is a hands-on way of learning business, teamwork, and creative thinking. Approximately 25 students at the high school learn by doing as they form, capitalize, operate and liquidate their own companies over a 12-week period, using real money raised from “shareholders.” JA uses volunteers as teachers, mentors and role models for the students, keeping the cost low and integrating the community into the program. Since it is an extracurricular, after-school program, it attracts students who are motivated to learn and get involved.
The SIA Community Grant will fund implementation of the JA Company Program at five urban and 5 rural schools in southern Malawi. This will reach a total of 250 high school youth! And will serve as a test case for expanding the program to other parts of Malawi.
I really appreciate that JA has Sharing the Gift built into its model. To begin with, the majority of the work is done by volunteers from the community. Often, these are accomplished business people, donating their time to help teach the students these important business basics. This is a great example for the students to see.
Second, as a part of forming these mini-companies, the student teams are expected to build Corporate Social Responsibility into their plans. This often takes the form of students volunteering on Saturdays to help out a less fortunate member of their community. “The learning gained from carrying out this part of the program is powerful,” reports Nick, from his experience in Swaziland.