This project will help break the cycle of poverty and boost economic development in Bulgaria by providing aspiring entrepreneurs from socially vulnerable background with business management training and financial assistance to start and grow their small businesses in the least developed and socially challenged areas.
Bulgaria is the poorest country in the European Union, officially labeled as "Europe's most deprived nation". Nearly 50% of the population lives under the European poverty line. Regions outside of the major cities of Bulgaria suffer from chronic unemployment and limited access to genuine development opportunities. The most at-risk vulnerable Bulgarians are: widows, ex-drug addicts, families with multiple children, permanently unemployed and people living in the rural areas.
The project provides training in entrepreneurship to economically challenged students to enable them to start businesses, become self-reliant and subsequently employ others in ways that contributes to the life of the community. Strategy: 1.Entrepreneurship and Ethics training. 2. Business plan and launching of a business. 3. Mentoring for 1 year. With this strategy vulnerable Bulgarians will be able to escape chronic poverty and develop a better concept how to be good community members.
The project will enable individuals and small businesses to move from making barely enough to meet their basic needs to a point where they will expand, provide employment, and contribute the life of the community. The students are educated to better understand the business environment, and are encouraged to help and employ other disadvantaged people around them.