NGOs Stimulating the Business Development

April 16, 2024, by Tadala Fumie

NGOs Stimulating the Business Development by Tadala Fumie

Starting up a business is a challenging task, even with small enterprises, due to high unemployment rates, a number of Non-Governmental Organisations (NGOs) have taken a step forward in stimulating business development as one of their crucial agenda to power people across the globe economically.

In reference to sustainable development goal number 8, both local and international non-governmental organisations are promoting business among citizens in different ways;

  • Providing access to finance
  • Offering business training and mentoring
  • Supporting market linkages
  • Advocating for policy change
  • Supporting social entrepreneurship

Apparently, Africa is registering an increased number of local non-governmental organisations that look at investments, sustainable social-economic development activities, financial literacy, and branding.

Most of the organization’s mandate across the continent is to promote social entrepreneurship by offering vocational technical skills, financial literacy on thematic economic issues regarding savings and investing, initiating loans and funds.

These local NGOs have adopted new strategies to boost business development through digital marketing, social media, and new technologies. These include;

  • Providing training and support
  • Offering digital marketing services
  • Creation of online communities
  • Leveraging social media
  • Organizing events and campaigns.

These non-governmental organisations provide loans and funding to empower small, medium, and large enterprises across the continent, both men and women for example in DRC, the world back approved $300 million to support women entrepreneurs and enhance the growth of new and existing micro, small, and medium enterprises.

It is not only the government’s role in boosting the social and economic lives of the public but other stakeholders and organisations have an impact in stimulating different business developments in particular nations.

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