A Cost-Effective and Sustainable Approach to Create Economic Opportunity :
Ramadhar Smarak Gram Seva Sansthan (RSGSS) has been working for Women, Unemployed Youth and making small contribution through limited resources to end extreme poverty in rural India through entrepreneurship innovation. Our program is simple and cost-effective. Validated by an independent randomized controlled trial, the Ramadhar Smarak Gram Seva Sansthan (RSGSS) program provides groups of three entrepreneurs with cash transfers as seed capital, training and ongoing mentoring by a local business mentor. We organize the business groups into Business Savings Groups (BSGs) of 30 entrepreneurs (10 business groups) to allow access to growth capital, provide a safe place for savings, and build social capital. Examples of businesses include livestock, farming, small retail stores and restaurants, tailoring, and beekeeping.
Ramadhar Smarak Gram Seva Sansthan (RSGSS) has plan to start businesses and trained over rural Indians. As we scale up and move into new communities and states, we’re designing and testing pilots to improve our impact and efficiency
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Our Program
Targeting
We identify participants for our program who live in villages, have no prior business experience, and are unable to provide for their family’s basic needs.
Training
Our business mentors deliver three-four months of business skills and financial literacy training designed for participants who have little formal education and assist them in building sustainable small enterprises of three budding entrepreneurs each. Integrated resource sustainability training ensures that new business activities promote environmental best practices and the family support module inviting the whole household ensures program participants, mostly women are supported while participating in our program. The interactive training materials use an approachable, visual, and concise format and focus on learning by doing and interaction. Some goal-setting tools enable to standardize content for each mentoring visit and make sure every business owner receives proper training. Our business mentors can now access the training curriculum and video review modules digitally on their tablets.
Business Savings Groups
At the beginning of the training, we form Business Savings Groups (BSGs) of approximately 10 businesses (30 entrepreneurs) each. BSGs are a self-generating, self-managed form of microfinance that allow members to pool savings and access loans. BSGs provide members with ongoing protection against financial shocks and access to growth capital. Our Business Savings Groups serve as a safety net and a support group, as well as our exit strategy.
Seed Funding
To light the fire of entrepreneurship, Village Enterprise provides an initial cash grant as seed capital to start the business after the business group develops a business plan with the help of their business mentor. A second cash transfer is provided six months later upon successful completion of the program as assessed by the business mentor.
Mentoring
Business mentors guide each new group in selecting an enterprise that is best positioned to flourish, taking into account the team’s skill set, local market conditions, risk factors, and profitability. Equipped with mobile training and mentoring tools, business mentors provide important ongoing coaching and mentoring throughout the program to ensure that all participants have the skills and knowledge to run a business, save for the future, resolve group conflicts, develop confidence and agency, and successfully graduate out of extreme poverty.
