Financial skills trainings in Saxony-Anhalt

Achieving financial sustainability can be a challenge for social entrepreneurs. During the month of November, German pilot participants had the opportunity to take part in online trainings, workshops and individual mentoring on the topic of financing and funding businesses.

In addition to basic knowledge, pilot participants got individual mentoring on funding their business. Referring to funding and financing possibilities from the toolbox such as loans and grants, employees from the Investitionsbank Sachsen-Anhalt (Development Bank of Saxony-Anhalt) discussed the specific situations with pilot participants. These mentorings proved to be a win-win situation for both parties, as a mutual learning process was achieved. In this regard, the pilot participants received valuable knowledge and the Investitionsbank Sachsen-Anhalt learned more about the needs of social entrepreneurs.

As a further way of financing socially innovative start-ups crowdfunding workshops were offered. The participants learned in theory on how to successfully implement a crowdfunding campaign. Together with the Fraunhofer Center for International Management and Knowledge Economy IMW participants worked on some practical examples and thus applied the theory to their own business ideas.