“Personal Initiative training leads to remarkable growth of women-owned small businesses in Togo”, World Bank says

Training
Friday, 02 February 2018 16:47
“Personal Initiative training leads to remarkable growth of women-owned small businesses in Togo”, World Bank says

(Togo First) - Personal initiative training pays about three times more than standard business training programs. This is the result of an experiment conducted by World Bank on some micro businesses in Lomé, Togo.
The personal initiative training increased firm profits in Togo by 30%…” while those who received traditional training (accounting, marketing, and human resources management mainly) increase their profits by 11%.
According to the Bretton Woods institution, this is a generalized trend in developing countries. “ Few evaluations of traditional business training programs offered to existing firms have found sustained impacts on business profits, particularly for women”, World bank comments.
So, the trend is more pronounced with women. Indeed, the experiment reveals that the profits of women who received psychology-based training (initiatives taking, anticipation, and proactive behavior) have increased by 40%. At the same time, women who received traditional training recorded a moderate 5% increase.
This substantial increase has helped the personal initiative trainees to pay the cost of their training (about $750 per trainees) within a year, World Bank explains.
These results show the impact of psychology on success in entrepreneurship, as well as a personal development training, focused on entrepreneurship. Indeed, in Togo, and in the sub-region, success in entrepreneurship is still perceived as the privilege of certain individuals struck by luck or having some kind of natural predispositions.

Fiacre E. Kakpo

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