Training on financial management and entrepreneurship for Village Level Entrepreneurs (VLE)

Smart Power India (SPI) was established by The Rockefeller Foundation to implement the Smart Power for Rural Development (SPRD) program. SPRD is an innovative program designed to deliver viable electricity solutions through decentralized renewable energy mini-grids. Through the SPRD initiative, SPI spurs economic development among underserved rural population in India by providing access to reliable electricity and enables the setting up of commercially viable business models for Energy Service Companies (ESCO).

SPI also promoted various micro-enterprise development activities (>200 MEDs) around mini grid sites to create an impact on livelihood of local community as well as increasing plant performance such as installing RO water machine, bulk milk chillers, leaf plate making, rice hullers, oil expeller etc.

This study employed a mixed research method, combining qualitative and quantitative approaches. To understand the financial management practices of SPI micro-entrepreneurs, in-depth interviews were conducted with a representative sample. Additionally, a comprehensive desk research was undertaken to identify best practices in financial management among rural micro-entrepreneurs.

Training Needs Assessment (TNA) was virtually conducted with Village Level Entrepreneurs (VLEs) to assess their knowledge, attitude, and behavior towards book-keeping and financial management in their businesses, including utilization of government schemes. Based on the TNA findings, a customized training module on entrepreneurship and financial management was developed.

Additionally, a standardized template for books of records was designed for VLEs, covering:

• Cash book
• Stock register
• Creditor book
• Debtor book
• Profit & Loss (P&L) statement

Furthermore, a Training of Trainers (ToT) program was conducted to equip master trainers with expertise in entrepreneurship and financial management tailored for rural micro-entrepreneurs.