A training in Mutare, Zimbabwe

To this day, we’ve supported hundreds of women with microloans in Zimbabwe and Chile. And the results have been extraordinary: The women we’ve worked with have by and large paid back their loans and used them to grow thriving businesses.

The secret to success? The drive, talent and hard work of these women. The other secret? We don’t just throw them into the deep end of entrepreneurship. We give each and every one of them a thorough training before we send them out into the world, and we’ve seen just how important that training is.

Many of the women we work with aren’t new to running a business. About half our beneficiaries in Zimbabwe use their microloan to build on a business they’ve already established, rather than start one from scratch. Our Zimbabwe program manager Victoria says that these women tend to find success quicker than those without prior experience, which makes sense.

But those who are starting from scratch receive plenty of information and support. Our trainings bring together women from different backgrounds and experience levels to learn together and share ideas. Some of the topics we cover are:

• How to calculate expenses and profits
• How to take inventory of products
• The mission of SKI Charities and the importance of women-owned businesses
• How loans and interest function
• What we expect of them

A training in Chile

At the training, each woman explains what her business is, and they can share ideas and suggestions about potential projects. Women can ask each other—and us—questions. Some of the women we work with are illiterate, so we provide accommodations to ensure they can access the training, too.

We check in on the women about two weeks after they’ve received their loans to see how they’re doing and assess their progress. Our more experienced women help the newer entrepreneurs, who also seek out women in their community who own businesses for advice and support.

“They get new ideas from each other. It also helps them understand the importance of stock taking and calculating expenses,” says Victoria. The trainings “enlighten them on the expectations of the program, which makes them better entrepreneurs and empowers them.”