Financial Literacy Mentors for Micro and Small Women-Led Enterprises

Scope of Work:

Program Objectives:

The program's primary objectives are as follows:

1. To improve social cohesion, detect and refer SGBV cases, and support entrepreneurship in communities.
2. To create up to 200 sustainable, fair, and safe income-generating opportunities through soft and hard support to micro and small women-led enterprises.

Mentorship Program Objectives:

The mentorship program is part of the Quest Program, which links women entrepreneurs with experienced mentors for guidance and support. The mentorship program aims to enhance the financial literacy skills of women entrepreneurs by providing them with 6 one-on-one session, a mix of virtual and in-person meetings, and one mandatory workplace visit. The mentors will specialize in financial literacy for micro and small women-led enterprises and will be responsible for assessing the mentees' progress and linking them with relevant resources in their business sector.

In order to equip small business owners with essential financial management skills, the program curriculum will cover the following topics over a 6 hour period: (but not limited to)

Introduction to Financial Management for Small Businesses

• An overview of financial management for small businesses

• Basic financial concepts and terminology

• The importance of financial management for small businesses

• Developing a financial management plan

Budgeting and Cash Flow Management

• The importance of budgeting and cash flow management

• Developing a budget

• Managing cash flow

• Strategies for improving cash flow

Pricing

• Pricing strategy

• Evaluating elasticity vs. competition and substitutes

Understanding Income and Expenses

• Types of income for businesses

• Types of expenses for businesses

The program will conclude with a final assessment to ensure participants have understood the concepts covered and are equipped with the necessary knowledge to effectively manage the financial aspects of their small businesses.

Note: The mentorship program can be tailored to the specific needs and level of financial literacy of the mentees, so the above topics are just a starting point.

Mentorship Program Scope:

The mentorship program scope includes the following:

1. Providing financial literacy support to micro and small women-led enterprises.
2. Offering 6 one-on-one sessions with a mix of virtual and in-person meetings, including one mandatory workplace visit.
3. Linking the mentees with resources in their business sector.
4. Assessing the mentee's progress at the end of the program.
5. Providing the Quest program's team with a preferred geographical location within Lebanon for matching purposes.
6. Ensuring that the program duration of the mentorship support per woman program participant does not exceed 3 months, including the final assessment.
7. Ensuring mentees fill in evaluation forms to assess their satisfaction with the program

Mentors are expected to:

• Provide support and guidance to mentees who run small businesses in different sectors in different geographical areas across Lebanon,
• Share knowledge and experiences with the mentees in order to help them develop strategies for action in their business sector
• Encourage mentees to have ongoing commitment to aims and goals of the project
• Assist project the mentees with further improving their knowledge, create a personal plan, reaching their full potential, and keeping them motivated
• Maintain confidentiality of the information shared by the mentees
• Conduct a weekly meeting for a duration of one hour (Virtually and/or in person) for a duration of two months (In total six sessions)
• Complete the worksheet regularly and submit it to the program coordinator
• Provide feedback to the Mentorship Coordinator or Deputy Programs Director on the process and activities of their mentees
• Participate in the evaluation of the mentoring program by completing the end of cycle evaluation survey

Roles and Responsibilities:

The mentorship strategy and execution plan is a critical component of the Quest project, aimed at empowering women entrepreneurs in Lebanon through a tailored mentorship program. The goal of the program is to provide guidance and support to women-owned micro and small businesses in different sectors across Lebanon, with a focus on digital literacy, marketing, financial literacy, women's leadership, and other key areas.

To execute this mentorship strategy effectively, mentors will need to work closely with their mentees for a duration of three months, providing one-on-one guidance and support. Mentors will be expected to share their knowledge and experiences, help mentees develop actionable strategies for their businesses, and encourage mentees to stay committed to the goals of the program.

Confidentiality is a key aspect of the mentorship program, and mentors are expected to maintain the confidentiality of the information shared by their mentees. Mentors will need to conduct weekly meetings with their mentees, either virtually or in person, for a duration of one hour per session, over a period of two months, totaling six sessions.

Mentorship Strategy and Execution:

The mentors will serve as advisors/ coaches to women participants, with a majority of them owning micro and small enterprises, for a duration of two to three months. The mentorship will be in line with the overall vision and goals of the Quest program.

The mentors will work on a one-on-one basis with each mentee, sharing their experiences, knowledge, and strategies to help mentees develop action plans in their business sector.

Mentors will encourage mentees to have an ongoing commitment to the project's aims and goals and assist them in creating a personal plan to reach their full potential while keeping them motivated.

Qualifications and Experiences

• Previous experience in mentoring small businesses
• A graduate degree in Business or Finance Management related discipline or any other relevant field
• Aware of the mentee’s business sector
• Clear understanding of the local Lebanese business market conditions
• Excellent communication skills (written and verbal)
• Self-motivated and results oriented, drive for measurable results in a timely manner and demonstrate passion to motivate the mentee
• Strong commitment, responsibilities and proactive solutions oriented
• Able to operate remotely and find appropriate time to schedule the sessions with the mentee
• Have a strong training, coaching and mentoring skills
• Self-motivated and with the ability to work under minimal supervision
• Ability to work with mentees across different sectors
• Have basic knowledge of how to use digital communication platforms
• Experience in business development services for small and micro enterprises
• Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability

Schedule and Timeline:

The mentorship program will last no longer than 3 months, including the final assessment, and will maintain an activity log sheet for each mentee support and a time sheet for every round of 10 mentorship supports.

To ensure timely completion of the mentorship program, it should commence promptly and conclude within a maximum of three months, inclusive of the final evaluation. The program's implementation should follow the schedule below:

• Weeks 1-2: Engage in mentor and mentee recruitment

• Weeks 3-4: Match mentors with mentees and schedule the program sessions

• Weeks 5-8: Facilitate the mentorship program sessions

• Weeks 9-10: Conduct the final assessment and evaluate the overall success

APPLICANTS ARE REQUIRED TO READ AND SIGN THE TOR ATTACHED FOR FURTHER DETAILS AND INFORMATION