The Entrepreneurship Plus/ Business-in-a-Box (E+/BiaB) is a one year effort by IFC, MoCI, SPARK, Single Spark and Business Start-Up Center Monrovia (BSCM), to boost the SME ecosystem in Liberia, by analysing the Liberian context, incubating promising business models and start-ups, to harness economic growth and identify new innovations and market potential. The E+/BiaB program was established to identify young, ambitious and innovative Liberians, then providing capacity building training to help them start-up their own businesses. The overall objective of the E+/BiaB program is, therefore, to contribute to economic development and (youth) employment in Liberia by introducing proven business concepts as an opportunity for entrepreneurs to develop strong SMEs.
The purpose of the program is to increase: a) entrepreneurial spirit, b) knowledge for start-up business, c) competitiveness, d) productivity of the Liberian SMEs, e) strengthen access to finance.
The primary targets are ambitious and passionate entrepreneurs with the drive for SME development. The selection process was very stringent so that it would select those participants that truly have the potential capacity and the drive to benefit from the program. The program also designed and launched a business plan competition for participants to pitch their business ideas to a selection jury. At the end of the business plan competition, and through the jury’s evaluation, 10 winners were selected to receive access to finance in the amount of US$10,000.00 or it’s equivalent of LRD $970,000.00. Eight (8) of these businesses has received their loan with the remaining Two (2) pending documents verification.