USAID Microenterprise Funding and Learning for Growth Project
Start date: March 2011
End date: March 2016
Project budget (Life of Project): $1,979,400
Objectives
Enhance economic growth and increase job creation by strengthening microenterprises to maximize their contribution to the national economy. The core pool of project beneficiaries will consist of 180 different microenterprises and entrepreneurs from four Macedonian regions.
Components
Practical Micro Entrepreneurial Learning Programs - CEED will adapt and expand the existing CEED Top Class Programs, which currently target experienced entrepreneurs and managers, to the needs of micro and small enterprises and start-ups. Courses will be offered in in four regions: Skopje, Polog, East and Southeast or Vardar region.
In-Company Support, Know-How and Incubation Services for Regional Growth - The objective is to enable microenterprises to expand into regional and foreign markets. It will expand the services of the Office Business Center in Kosovo to microenterprises, including administrative support, consultancy and pre-sales assistance to Macedonian firms in order to initiate or increase sales in Kosovo. Examples of consulting services that will be provided include technical assistance in areas such as: organizational changes, operational improvement, Human Resources, financial management, technology implementation, quality certifications, improvement of product design, packaging, adaptation to local tastes/preferences, expanding distribution channels, finding a local partner, and conducting mini market research. Similar services and eventually offices will be launched in Serbia and Albania.
Small Equity, Quasi Equity and Angel Capital for Microenterprises – CEED will establish a new investment fund to invest capital into selected microenterprises that demonstrate a capability to expand profitably to local and regional markets. The fund will total $800,000 and invest in approximately 10 firms with an average investment of approximately $80,000 per firm. It will involve due diligence of potential firms for investment, including the analysis of finances, market/competition, human resources, and legal status in order to ensure that the microenterprises have the capability to appropriately use and manage the equity and generate appropriate returns on the capital.
Expected Results/Impact
- At least 250 jobs created in the assisted microenterprises.
- Business expansion of 10 firms through equity investment of $800,000.
- Increased sales by small businesses through expansion into local and regional markets.
- Increased sharing of information on business management practices among small business owners through stronger networking
CEED, created in 2007, is a legacy institution of USAID Macedonia which has helped more than 180 companies to improve their operations. The current project’s component phases are based on approaches already successfully implemented with small and medium companies over the past ten years with USAID support.
Contact Information
Contact at USAID: Cullen Hughes chughes@usaid.gov / Tanja Markovska tmarkovska@usaid.gov
Chief of Party: Jovan Madjovski jmadjovski@ceed-macedonia.org
Information Officer: TBD
Website: www.ceed-macedonia.org