76 installments • 100%
My name is Kenneth Adevu. I am an entrepreneur. I am of a poor parentage; both my parents being peasant farmers and my father having three wives and 18 children. Growing up, my siblings and I lived in poverty and squalor but those conditions did not deter me from going to school. l fended for myself during the greater part of my schooling but by dint of hard work I trained as a graduate teacher. Now I teach at a senior high school where I have impacted several lives positively. I am married and have three children; the first one is in the second year in senior high school while the second and the third are in final year in junior high school and sixth grade respectively. With the income that I earn from my profession, I am able to take care of my family but the pressure from extended family members and other people is intense. Therefore, in order to meet extended family and other social responsibilities I have managed to set up few small businesses which rake in additional income and at the same time provide jobs for some otherwise jobless youths in my community.
My business is a stationery shop. I have opened the shop near my workplace and sell items to my students so that they have easy access to stationery for their school work. I derive income from the sale of the stationery. I have employed a senior high school graduate who could not afford money to enter into a tertiary institution as a shop assistant.
I would like to use the loan to purchase more stationery in order to expand my operation.
When school is in session, the students buy stationery items like pens, pencils, rulers, envelopes, drawing sheets, textbooks and many others. Some people who live around the school also buy stationery from my shop. In a month we are able to make an average net income of Two Hundred and Twenty-Five Dollars(US$225.00). I give one-third of the income ($75.00)to my sale assistant as her pay. I use the rest to supplement my salary in meeting my family and social responsibilities. I also plow back part of the income into the business. I intend to use $250 of the loan to purchase assorted textbooks on various subjects and the remaining $300 or so to buy stationery items for my one-stop shop. With the injection of the new loan into my operations, I hope to increase my profit margin by 50%. With the increase in profits, I will expand my business further by opening another shop near one of our sister schools in the Ho Municipality. I will then provide a job for another jobless young person in the city.
Aug 7, 2017
Cost to entrepreneur
Service fee: $14.05