By S.M. Arasu | Founder Director
Summary
This project aims to empower at least 100 women start or expand small businesses of their own by providing micro-credit loans or grants.
Challenge
It is observed in the community that bringing people out of poverty cannot be done through charitable efforts alone and time has gone. It requires empowering disenfranchised groups to become self-reliant. Women, in particular, face a range of societal ills that puts them at a distinct disadvantage. For example, alcoholism, low literacy rates, limited employment opportunities, predatory lending and the resulting "debt trap" restrict women from having an expendable income, let alone start small businesses of their own. The women do not have an opportunity to take a decision in her family and it restricts with men.
Solution
Through this project, Prime Trust provides small grants or loans (free or low interest) to women pursuing small businesses of their own. This includes support to expand their business also. Awarding of loans and grants will be based on established small businesses or clearly outlined new ideas. Prime Trust already has a fair-trade store in Puducherry that sells products that are made by women from our self-help groups. These women have voiced their need for additional funding to expand their businesses.
Long-Term Impact
This project empowers women to become self-reliant and self-sustaining. It gives them the financial independence that they rightfully deserve. Additionally, there are added opportunities for employment opened. They are also able to meet other small business owners through our Akshaya store meetings. This ability to form networks with other women gives them access to support systems and safety nets that they otherwise would not have within their own families.
Updates
During this pandemic period, the project is not taking place in a full-fledged manner. The project will take up in a great way once the lock-down is relaxed.
Resources
http://www.primetrust.org
https://www.facebook.com/Akshyaconfederation
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