Formalization through individual business creation and access to banking services for each learner
Formalizing learners as individual business owners and supporting the opening of bank accounts or mobile money accounts is critically important in Sub-Saharan contexts, where the informal economy represents more than 90% of economic activity.
This approach provides learners with a concrete pathway to financial inclusion, economic autonomy, and legal recognition of their entrepreneurial activities.
Formalization of entrepreneurial activities
The formalization system developed by Grow Academy provides learners with a concrete opportunity to build their own businesses and bring their entrepreneurial projects to life.
It enables participants to establish their individual enterprises before completing the training program.
Through online training modules dedicated to entrepreneurship and business creation, learners acquire the knowledge and tools required to successfully launch their ventures.
These modules cover all stages of business creation, from defining a business idea to day-to-day operations, including business model development and access to financing. In addition, the online formalization system offers mentorship sessions with experienced entrepreneurs, supporting learners as they move from concept to execution.
To implement this formalization system, Grow Academy partners with the relevant public and private institutions responsible for business registration and formalization, such as commercial courts, chambers of commerce, and related agencies.
By formalizing their status as individual business owners, learners gain a distinct legal identity, strengthening their credibility with commercial partners, financial institutions, and potential clients. This enables them to enter into contracts, invoice for services, and access more formal business opportunities.
By facilitating access to business creation, Grow Academy promotes entrepreneurship and supports young women in their personal and professional development journeys.
Access to formal banking services
The formalization system developed by Grow Academy provides learners with a concrete opportunity to develop their own businesses and bring their entrepreneurial projects to life.
It enables participants to create their individual enterprises before completing the training program.
Through online training modules dedicated to entrepreneurship and business creation, learners acquire the knowledge and practical tools needed to successfully launch and grow their ventures.
These modules cover every stage of the business creation process, from defining a business idea to day-to-day operations, including business model development and access to financing. In addition, the online formalization system offers mentorship sessions with experienced entrepreneurs, supporting learners in turning their ideas into viable businesses.
To implement this formalization system, Grow Academy partners with public and private institutions responsible for business registration and formalization, such as commercial courts, chambers of commerce, and related agencies.
By formalizing their status as individual business owners, learners gain a distinct legal identity, which enhances their credibility with commercial partners, financial institutions, and potential clients. This enables them to enter into contracts, invoice for services, and access more formal business opportunities.
By facilitating access to business creation, Grow Academy actively promotes entrepreneurship and supports young women in their personal and professional development.