Micro-enterprise Development

Generating economic activity is crucial to sustainable reconstruction and growth. However, entrepreneurs in Liberia often lack the minimal resources to restart or grow economic activity. Currently no banks operate outside of Monrovia (capital of Liberia) and credit services for very small businesses are almost non-existent. There is a huge need for grants or loan services for micro-businesses in places with minimal financial infrastructure. There is also a need for basic business training that can cater to a very low literacy level. Currently ARC operates two programs in the sphere of Microenterprise Development and Microfinance.

Business Grants and Training Program: Recognizing the importance of jumpstarting economic activity throughout Liberia, ARC provides small business start up grants to extremely vulnerable returning refugees, IDPs, ex-combatants and other community members in Bong and Lofa Counties. So far, over a thousand individuals have attended a week-long business training and received $70 start-up business grants. The grants enable most clients to increase their business assets by 50% in a four-month period.

A second phase of the project supports the start-up of community savings and loans clubs, which will provide savings and credit opportunities to entrepreneurs in rural areas. A local NGO, Liberian Initiatives for Development Services (LIDS), assists ARC in implementation of the program.