#7 micro matchmakers_isl
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#7 micro matchmakers_isl
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#7 micro matchmakers_isl
- 1. “MAKI”TEAM“MICRO-MATCHMAKERS”team April 1st, 2016 Competition of Business Ideas «Social Entrepreneurship»
- 2. Strategies andmethodsforimprovingtheaccessto financingandpromotinganentrepreneurialculture amongyoungpeopleaged18to30asawayofreducingyouth unemploymentandimprovingtheoverallliving standardsinLatviaanditsregions Microfinancing: Microloans Authors: Maria Boyko, Karine Bagdasaryan, and Jan Nikonov Supervisor: Robert Pustis Mara Deksne School: International School of Latvia
- 3. ReachingFull Potentialperiod - Greaterpotentialoutput! - Shiftingactualoutput closertopotential! B Production Possibility Curve
- 4. SocialProblem The lack of financial support to ‘infant’ startups among the people aged 18 to 30 in Latvia in its Regions.
- 5. SocialProblemSolution Muhammad Yunus (Bengali: মুহাম্মদ ইউনূস; born 28 June 1940) is a Bangladeshi social entrepreneur, banker, economist and civil society leader who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. Microfinance Pioneer: Muhammad Yunus Type I: focuses on businesses dealing with social objectives only. Type II: can take up any profitable business so long as it is owned by the poor and the disadvantaged, who can gain through receiving direct dividends or by some indirect benefits.
- 6. YouthUnemployment statistics In 2015 the level of unemployment for people aged 15-24 was 16.3% Youth unemployment tends to change with seasons, i.e. during the studying time (ex. in spring, winter, autumn) there would be a smaller percent of economically active youth. In the 4th quarter of 2015 the youth unemployment rate was 19%, which is 2.8% higher than in the 3rd quarter.
- 7. Solution Establish a micro loans system available by the request of the target audience.
- 8. Requirements 1.Secondary school education 2.Business plan + Repayment strategy 3.Starting capital for applying for Microloan
- 9. Crowdfunding platforms (ex.website) Freelancer firms (ex. investors/donors) Return from interest rates earned
- 10. Theprocessfrom theperspectiveof anentrepreneur Young entrepreneur presents his/her business idea (plan + repayment strategy) on the website Waiting for the request/s Clarifying details and starting business
- 11. Theprocessfrom ourperspective Receiving the application from the young entrepreneur with his/her business idea (plan + repayment strategy) Matchmaking investors with entrepreneurs Clarifying details and starting business
Editor's Notes
- Social business is a cause-driven business. In a social business, the investors/owners can gradually recoup the money invested, but cannot take any dividend beyond that point. Purpose of the investment is purely to achieve one or more social objectives through the operation of the company, no personal gain is desired by the investors. The company must cover all costs and make profit, at the same time achieve the social objective, such as, healthcare for the poor, housing for the poor, financial services for the poor, nutrition for malnourished children, providing safe drinking water, introducing renewable energy, etc. in a business way. The impact of the business on people or environment, rather the amount of profit made in a given period measures the success of social business. Sustainability of the company indicates that it is running as a business. The objective of the company is to achieve social goal/s. Types of Social Businesses Type I: Eg. The product produced is for the benefit of the poor. Type II: Eg. The product could be produced by the poor but exported to an international market while net profits would go towards workers benefits.