This project will give micro-credits to 5 to 7 young low income entrepreneurs of Baru Island, who have a business idea, experience in a activity and lack of financial support. The project objectives are to 1) identify the young entrepreneurs and 2) provide them with technical and financial support (training and credit) to improve their business and increase their only source of income.
What is the issue, problem, or challenge?
Cartagena is the second poorest city in Colombia. (Study "Poverty in Cartagena: A neighborhood analysis", Center for Regional Economic Studies (CEER) Cartagena, 2007). Over 75% of its population is below the poverty line. Ararca, Santa Ana and Baru, the 3 towns located in the Island of Baru, despite being located in a great potential touristic area, are one of the poorest sectors of the city with the highest levels of poverty and unemployment.
How will this project solve this problem?
The project will provide the technical and financial support (training and credit) the young entrepreneurs need to improve their businesses and therefore to increase their families only source of income. By growing their businesses they also provide jobs to other members of their community.
Potential Long Term Impact
The project will give young entrepreneurs the tools they need to increase their income and to create new jobs and therefore to improve the community`s quality of life.
Total Funding Received to Date: $8,550
Remaining Goal to be Funded: $1,940
Total Funding Goal: $10,490