This project supports the development of a dynamic and vibrant private sector through supporting Micro, Small and Medium Enterprises (MSMEs).
MSMEs constitute 97% of all enterprises in the Palestinian economy. These ventures are the largest generators of employment in the private sector (87%).
(Identification File, January 2013)
A large number of young people dream of opening their own business, but many potential entrepreneurs and recent graduates lack proper business experience. This lack of experience hinders them from creating their own star-up. In order to set up a successful enterprise, potential entrepreneurs need greater support, including mentoring, business advice and information on how to obtain financial support. This project will facilitate their first steps towards establishing their own business start-up.
The project aims to facilitate the creation of MSMEs in Palestine. It will enhance entrepreneur’s skills to make their start-ups more competitive and financially sustainable.
It will also enhance the capacity of organizations providing support services to start-ups in the pre-incubation and incubation phases, develop the capacity of incubator managers and small business advisers and facilities access of MSMEs to finance with the aim to increase the number of viable and sustainable start-up business.
The project will raise awareness and prepare potential entrepreneurs to translate their ideas into viable business plans. In addition, it will provide the different partners (women and youth organizations, business centers, etc.) with capacity-building and awareness programs in order to enable them to better support potential entrepreneurs. Furthermore, a pool of locally accredited business advisors will be created to advise potential entrepreneurs and partner institutions. A voucher scheme will be set up to facilitate entrepreneurs’ use of the business advisors services . Finally, during the project, a virtual one-stop-shop will be created that will include a guide to assist MSMEs to get access to finance.
Partner: Ministry of National Economy
Beginning of the project: August 2015
Duration: 36 months