Equip poor women with skills and knowledge to effectively manage finances; therefore, better income generation; therefore, better income; therefore, improved household standards of living. Train women in financial record keeping, financial report generation and analysis - simple money skills for everyday business. How they can keep good records of their finances, generate financial reports and use them in decision-making. Build a community loan fund to access poor women finances.
Sustainability of businesses in Uganda is bleak - "80-90% of startups fail within the first three years." Experts confirm that a major 'killer of businesses' is the business owner's "failure to separate personal finances from business finances." Certainly, without proper financial records it is hard for a business owner to separate personal from business expenditure. And it is hard for a business owner to establish if their business is eating into their personal finances and making them poorer.
Conduct financial management training courses that provide poor women with simple money skills for everyday business. Specifically, provide answers to these three questions and more: How can you keep good records of your finances (books of accounts)? How can you generate reports about your finances? How can you use the reports about your finances to make decisions? Encourage a culture of financial frugality and of saving to generate community loan funds, in order to access loans to poor women.
Long-term, households of women, project beneficiaries, will have livelihood alternative investments through which they earn sufficient incomes to be able to afford the right quantity and quality of food for their respective households. Contributing to reducing the proportion of undernourished people in Uganda, as well as reducing the percentage of children in Uganda who are stunted and body-wasting. Overall, members of benefiting households will suffer less from malnutrition related ailments.
This project has provided additional documentation in a PDF file (projdoc.pdf).
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