Capacity Building for SMEs' in cooperation with TBC and USAID
TBC Bank
USAID Economic Security Program
DAI Global LLC, the implementer of the USAID Economic Security Program (hereafter referred to as the Program) and JSC TBC Bank have been collaborating with SavvY on "Capacity Building of Small and Medium-sized Enterprises" in Batumi and Kutaisi.
The Program, via its Business Development Services initiatives, strives to facilitate the accessibility of micro, small, and medium-sized enterprises (MSMEs) to business advisory and development services, along with their respective providers. This objective is pursued through the implementation of the BIZLink Methodology, a strategy inspired by the Goldman Sachs "10,000 Small Businesses" program. The BIZLink Methodology comprises two key components: group training workshops for SMEs and subsequent individual advisory services offered to workshop participants.
After the successful implementation of the BIZLink activity in Batumi, which was the Program's initial intent and carried out in collaboration with TBC Bank, the activity received such positive feedback that it led to a ripple effect. The Kutaisi Branch of TBC Bank expressed keen interest in initiating a similar project within their area of operation. SavvY played crucial role in the success of BIZLink Batumi to have led to this effect and further facilitated implementation of BIZLink Kutaisi, to the satisfaction of the Program and its stakeholders.
How We Helped | The project involved approximately 30 small and medium-sized business leaders from a variety of industries, including light industry, tourism, and services. The initiative was divided into two stages: a major workshop with individual consultations and a 5-week program for ten selected businesses. Within the scope of the 5-week program, assistance to businesses involved the adoption of automated financial reporting and analysis tools. |
Impact and Potential | As a result, businesses are be able to prepare their own financial statements in simple and acceptable forms for financial institutions, as well as analyze the results, increasing the possibility of finding additional funds and strengthening the company's financial analysis. |
