In light of the recent economic downturn, development strategies that create new jobs and support the growth of businesses are of greater need than ever. Microenterprises play a critical role in this quest as they account for a larger share of newly created jobs. However, only a fraction of these start-ups survive for more than two years or even develop into the high-growth firms.Amongst the biggest barriers to their sustained growth are lack of access to training, development support, and access to funding. The “Youth Ignite” Project (under the Bank of Industry’s (BOI) Microenterprise Finance Program) seek to address these challenge by supporting 1 million entrepreneurs to create 5 million jobs over the next 5 years.Microenterprises will be provided training, single-digit interest loans and ongoing support during the course of the 5 years. Entrepreneurs are required to do the either of following: Consider ways people conduct busin...
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