From IDEA to BUSINESS
We believe in change
MINA helps people in disadvantaged regions of Mongolia to start their own businesses. The program, developed by MBC Foundation, teaches the participants the practical basic knowledge and skills with regard to running a business. It also helps the participants to create their own business idea. MINA helps the participants after the training to apply for a loan and/or to participate in the cooperative for savings.
When the participant has saved the starting capital and start the business, he or she can get a coach that supports them for a period of up to 2 years. Regularly they come for a progress meeting in which the challenges of a starting entrepreneur are discussed and tips are exchanged to make the business suitable.
In the boxes below, the different steps of the training program are described briefly.
Generate your Business Idea training
In the 2-day training ‘Generate Your Business Idea’ you will create 3 potential successful business ideas. You will scan your skills, talents, experiences and network. And you will do a short assessment about business and character. At the end of this training you can sign up for the ‘Start Your Business’ training.
Start your Business training
The interactive 5-day training helps you to find out what type of business fits you and could be successful. The trainings will point out what the people around you (the‘market’) might need. Step by step you will develop a Business Plan for your own small business, applying the things learn to your own potential business.
During a one-on-one session, we will provide feedback and suggestions for improvement of your business plan. Once you finalize your plan, incorporating our recommendations, it will be ready for implementation.
Finances
With your final Business Plans you can apply for a loan from MINA or another partner. In combination with joining a Saving Group, you can get the start-up capital that is needed for your business. Other sources of the start-up capital can be: personal savings or from family/friends, loan schemes through local communities, etc.
Start your Business
After this you can start your new business with your Business Plan and the available capital. A coach will support you to make everything ready to open the business and get your clients.
Coaching
When you start the business, the MBC will appoint a coach to you. He/she will help you implement your Business Plan and manage your business well. Through regular meetings, the coach will help you to optimize your production or services, to develop your business skills, to plan well and to solve your
business problems.
Run the Business Well
After a period of 2 years of coaching you will have enough knowledge and experience to continue the business on your own. With this experience a next step can be a investment so grow and to create jobs for other people in your family or community.
Partnership MINA and MBC
With the help of MBC Foundation, MINA NGO established their own Business Training Center in Mongolia, alongside their microfinance activities.
MINA believes that the MBC method of training and coaching potential entrepreneurs to generate income complements their activities and the development of communities in Mongolia. It will tailor these activities to the communities MINA already works with, and it will create new opportunities for those in need, starting businesses for themselves and their families.
