World Vision Foundation of Thailand (WVFT), represented by National Director, Dr Sarawut Rachasrimuang, and Small and Medium Enterprise Development Bank of Thailand (SME D Bank), represented by Deputy Managing Director, Acting Managing Director, Mr Phongchan Samphao Ngoen, have signed a memorandum of understanding (MOU) to jointly develop a curriculum that will equip vulnerable adolescents to become productive owners of small and medium-sized enterprises (SMEs) in accordance with the labour market’s demand,. The collaboration includes the support of resource persons who will provide specific training and professional advice about business operations and the provision of startup funds.
Dr Sarawut Rachasrimuang, National Director of World Vision Foundation of Thailand, revealed that the MOU signing signifies the bilateral partnership in developing the Young Owners of Small and Medium-sized Enterprises Curriculum to capacitate and unlock the limitations of the vulnerable youth in the Bangkok and vicinity aged between 16-25 years who participate in the WVFT’s Empowering Marginalised Youth of Bangkok for Productive Citizenship Programme, in order to equip the target group – who are likely to quit school and end up becoming unskilled workers, unemployed, and deprived of economic privilege – with an opportunity to enter their preferred path of careers that are in line with the labour market’s trend and to enable them to provide for themselves in the future. The outcome will yield both economic and social profits. The youth empowerment programme will be closely supervised and advised by specialists in dedicated fields. In addition, real-life successful entrepreneurs will share their knowledge, skills, and experience with the youth.
‘Empowering Marginalised Youth of Bangkok for Productive Citizenship Programme is part of the implementation under the WVFT’s strategy that promotes and develops child and youth life skills through the self-search process based on the World Vision International’s Youth Ready Work curriculum. The project has been carried out for 3 consecutive years, with the support of Citi Foundation and the partnership with more than 20 leading vocational institutes, to provide over 350 adolescents with vocational training in different disciplines, such as skilled labour services, food and beverages, beauty services, health services, etc’.
Mr Phongchan Samphao Ngoen, Deputy Managing Director, Acting Managing Director of Small and Medium Enterprise Development Bank of Thailand, or SME D Bank, stated that aside from supporting SMEs financially, the bank also has the mission to capacitate existing entrepreneurs as well as to build new waves of startups. Joining forces with WVFT through this project will yield great benefits in building the foundation, enhancing skills, and fulfilling business knowledge for youth to have readiness to become new, competent entrepreneurs and can actually set up and run their businesses.
In this youth development curriculum, around 60 adolescents from the WVFT’s Empowering Marginalised Youth of Bangkok for Productive Citizenship Programme will be recruited to join a 9-day, or 54-hour, intensive training course that will give them preparedness to become SME owners – from how to write business plans to make pitching – by type of vocational field, including the manufacturing sector and service provider. The 6 winners of the best business plans will be granted with startup funds of the highest prize of 100,000 baht that will enable them to become SME owners. The winner list will be announced at the career exhibition that will be held on 25 October 2019 at the ‘Thailand’s Best SMEs’ fair at the Co-working Space, Headquarters of the SME D Bank.
‘The bank is ready to mentor, co-develop the curriculum, and provide trainers who will give the young participants related knowledge, such as preparedness to become entrepreneurs, business plans development, marketing strategies, business management and administration, accounting and tax filing, preparedness to access funding sources, etc. For those who have completed the curriculum and are looking for startup funds, the bank is ready to be their financial advisor who can recommend how to reach the bank’s special interest-rate loans in the future’, said Mr Phongchan.