Training & education
Providing rural entrepreneurs with savings and loans is not enough. Giving communities the infrastructure to pool their resources is a start, but in the short-term, distributing loan capital without business training can result in increased consumerism. In the long-term, the debts incurred from loans that aren't combined with education can actually hamper economic growth. And that's why each of our programmes are built around a core of financial literacy and business training.
Our unique combination of experienced local partners, intimately-connected Trust Groups, and Anglican Church reach, provides a great platform for training and reduces the costs of administration, monitoring and follow-up. Each Trust Group is trained by our local partners in savings and credit processes, basic business skills, financial literacy, financial planning, book-keeping, diversification and marketing.
When the Trust Group is mature enough for members to take out a small loan, each of our clients must draw up their individual business plan with support from Five Talents partner staff.
Over the course of the loan repayment, Field Officers visit our clients to monitor and provide business mentoring, encouragement and ongoing training.
What role does the UK office play?
Five Talents staff in the UK are heavily involved in the planning and training stages. We also provide oversight and assistance where necessary to ensure maximum efficacy and efficiency.
However, all of our programmes have expert local management teams and local Boards. The day to day running of our programmes is all carried out by local staff; they train new members in Group formation and business training, they oversee the savings processes and loans distributions, and they carry out the monitoring, repayment and recycling of loans.
Why we need funds
In addition to oversight and long-term planning, the role of Five Talents UK is to raise the funds which enables our local programme staff to form, train and support Trust Groups. The support of our donors allows our local partners to mentor our clients and help them grow their small businesses, to support them socially and spiritually and (in some programmes) to provide loan capital.
It's a partnership model of equality and mutual respect where staff in local countries and staff in the UK learn from and encourage one another.
Where to next?