THE Volunteer Youth Corps (VYC) has launched its women’s Savings Group Training Initiative (SGTI) which is geared towards recruiting women to learn about saving groups and starting a business.According to a release from the VYC, they are currently in the process of recruiting participants for the four-week programme that will “empower women by fostering their confidence in saving money and business management.”
The SGTI is open to 25 women who want to launch or grow their businesses, and learn to better manage their money. It will also offer tools and skills to help them apply for loans, the release stated.
Through the training, women will learn about using savings groups to develop effective savings policies and to develop a business plan and do book-keeping, among other skills.
A savings group is a group of women who save together as a Trust Deed under a single bank account. Groups are owned, managed and operated by the members who convert small amounts of cash into savings. Each member works towards achieving an individual savings target, which encompasses the 20 per cent equity contribution and legal fees required when applying for a loan.
SGTI is a new programme launched by the Volunteer Youth Corps, through the support of Cuso International.
It aims to help women transform their creative ideas into income-earning ventures, while also giving them a tool to overcome one of the main barriers that keep women from starting businesses in Guyana.