Banks team up with Endeavour to provide training for SMEs in Brazil
The Inter-American Development Bank (IDB) is teaming up with Banco Itaú and Endeavour Brazil to provide training for small and medium-sized companies in Brazil that are interested in developing high-quality products and services to the neediest population in the country, in the so-called base of the pyramid (BOP) in Latin America’s biggest economy.
The IDB, through its Opportunities for the Majority Initiative and the Inter-American investment Corporation (IIC), and its Brazilian partners will implement a pilot training programme that will allow SME executives to develop new business ideas or expand their existing businesses focused on serving the Brazilian BOP market.
The training programme, based on Endeavour ’s “Bota para Fazer” methodology, will allow SMEs to learn about several topics including: identifying business opportunities; setting financial goals; developing products; conducting market research as well as building an organisation and managing cash flow and financial needs. Participating companies will also have access to three training modules developed by the IIC through the FINPYME programme to improve governance of family-owned SMEs, increase transparency and ethics inside the organisation and fostering the adoption of best practices in regard to energy efficiency.
Over the next three years as many as 100 SMEs are expected to benefit from the business mentoring and, after that period, another 500 firms will receive training.