Field Brief No.10 – Spurring Entrepreneurship Through Business Plan Competitions

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Introduction

More than a year after the devastating earthquake that destroyed much of Haiti’s productive infrastructure, micro, small and medium sized enterprises (MSMEs) remain a key diving force for rebuilding Haiti’s economy. One of the critical factors in this process has been increasing the flow of financial products and services to businesses in value chains that have the greatest potential for growth. Experience has shown that building the capacity of MSMEs and entrepreneurs, increasing their access to financial products and services, and raising their profile with investors is key to promoting enterprise development and sustainable job creation.

Recognizing these critical opportunities for economic recovery in Haiti, USAID’s HIFIVE program launched a Business Plan Competition (BPC) in Haiti, known locally as Mon Enterprise Mon Avenir or MEMA, meaning “My Enterprise My Future.” Led by HIFIVE implementing partner TechnoServe in partnership with the Universite of Quisqueya and the Inter-American Development Bank, the business plan competition was based on TechnoServe’s proven methodology, which is described below, and adapted for the Haitian context to address post-earthquake economic recovery. MEMA’s unique features include: 1) targeting high-priority value chains that can make the great est contribution to economic growth and job creation; 2) utilizing diverse methods of communication for broad-based participation; and 3)  providing participants with targeted capacity building at multiple stages in order to maximize opportunities to build local capacity while increasing employment, particularly in low-incomes areas.