[{"bbox": [129, 130, 1154, 927], "category": "Table", "text": "<table><tr><td>moment, young entrepreneurs and TVET graduates are perceived as not bankable. On the one side, they are too risky for the lenders, lacking assets and collateral. On the other side, entrepreneurs face a wall of high interests that quickly put them out of business.</td><td></td><td>how about and relationships with a new segment of clients.<br/>It is expected that this will open the doors for commercial lending to the most promising entrepreneurs.</td></tr><tr><td>Limited number of female entrepreneurs succeed. Cultural practices could work against the action objectives, e.g. men not accepting that their female spouses succeed as entrepreneurs, in particular if they themselves are unemployed.</td><td>M</td><td>Result 8 on improving the entrepreneurship culture is specifically geared towards challenging cultural prejudice and projecting positive images.</td></tr><tr><td colspan=\"3\"><strong>Assumptions</strong></td></tr><tr><td colspan=\"3\"><ul><li>National and local governments are prepared to invest policy resources in the MSME sector and improve the business environment.</li><li>Stakeholders (private sector, economic think thanks, chambers of commerce, umbrella organisations) are willing to engage in discussion with the government, the implementing agency and the EU on recommended policy measures.</li><li>Banks develop lending windows and relationships with entrepreneurs, getting to know their 'clients' and expanding SME market penetration.</li><li>The Government will support reform of the management of the TEVET levy, to allow more efficient use of funds and make the system more sustainable</li></ul></td></tr></table>"}, {"bbox": [129, 957, 616, 984], "category": "Section-header", "text": "# 3 LESSONS LEARNT AND COMPLEMENTARITY"}, {"bbox": [129, 999, 344, 1025], "category": "Section-header", "text": "## 3.1 Lessons learnt"}, {"bbox": [129, 1040, 1098, 1272], "category": "Text", "text": "This action will capitalise on the existing support to the TEVET Sector through the STEP programme, and has fully taken stock of the findings of the Mid-Term Review, namely in the areas of: promote self-employment and business creation; focus infrastructure investments; develop and promote full usage of quality data sources such as Labour Management Information System (LMIS) or TEVET Management Information System; emphasise policy dialogue, focus on results, enhance coordination and policy dialogue, especially with the private sector. State Budgetary resources must be foreseen to ensure sustainability, and the Ministry of Labour, Youth, Sports and Manpower Development and TEVETA will be supported to this end."}, {"bbox": [129, 1283, 1098, 1603], "category": "Text", "text": "Lessons learnt from interventions in the area of MSME development highlight the importance of envisaging coaching and mentoring as a long-term endeavour (more than 1 year) and the ability of the programme to adapt assistance to evolving needs of businesses throughout their life-cycle (training, finance, etc.). It has also been found that services must be well-targeted and delivery mechanisms must be timely, as delays can have a critical impact on businesses. Key lessons from the UNDP's Malawi Innovation Challenge Fund and the Growth Accelerator Market Test programme point to the fact that provision of affordable repayable financing through various means such as matching grants and repayable loans significantly de-risks the investment and increases its chances for success. There is also a growing realisation that large companies must work with the lower end of the market segment if they are to grow and deepen their product base, thus the need for the formal sector to support the growth of MSMEs in the country."}, {"bbox": [602, 1665, 627, 1689], "category": "Page-footer", "text": "11"}]