FIT Financial literacy and new business models to boost women entrepreneurship possibilities Erasmus Project

Project Title

FIT Financial literacy and new business models to boost women entrepreneurship possibilities

Project Key Action

This project related with these key action: Cooperation for innovation and the exchange of good practices

Project Action Type

This project related with this action type : Strategic Partnerships for adult education

Project Call Year

This project’s Call Year is 2020

Project Topics

This project is related with these Project Topics: Economic and financial affairs (incl. funding issues)

Project Summary

The FIT strategic partnership overall aim is preparing and testing an improvement program specifically designed to support women entrepreneurs in starting or reshaping their business using circular economy business models with solid financial structure. Women’s entrepreneurship is an untapped source of growth, prosperity and poverty reduction, as well as being fundamental to women’s empowerment for creating societies that are more equitable.

The circular economy offer an amazing opportunity to introduce new ethical norms in business and fine-tune the balance between profit and social responsibility. Financially literate women have the tools to grow their wealth and use those assets to contribute to causes they believe in. That includes having a more significant stake in political and social movements, as well as being able to financially back charitable causes. The partners noticed there is plenty of financial and managerial support systems and tools for SMEs at the international, European and national levels. However, it is quite challenging to understand and have access to such support mechanisms, especially to financial funds, by women entrepreneurs. In order to grow their businesses in a sustainable way, women entrepreneurs need better guidance and coaching. There are no quality and/or free-to-access knowledge and tools covering all those topics that SME-educators can make use of in their support service to SMEs.

The partners will produce a blended learning program associated with a coaching program offered by a multidisciplinarity support network that will increase women entrepreneurs business planning skills, financial literacy, entrepreneurial mind set, the ability to lead with purpose while creating their local and international support network.

The learning program and the tools prepared and tested during the 24 month long project will support future women entrepreneurs
+learning about new business models to contribute to a ‘greener/ethic/responsible economy’
+increasing financial literacy and ability to take informed decisions on financial and strategic company decisions
+increasing managerial, organizational and leadership skills needed to lead and manage a business
+increasing possibility for networking and receiving tailored support by peers/trainers/mentors

In order to reach this aim the partners are going to
*prepare the FIT all in one program (e-learning, thematic sessions, coaching) with the addition of audio and clear captions for the online learning contents, to favour participation of women with disabilities
*develop a certification scheme for practitioners and women entrepreneurs in the program to create a sense of belonging and foster mutual support of senior participants with future participants
*reinforce the national and international support network and make the products visible and available for a greater number of stakeholders.

The project contribute to improve the supply of high quality learning opportunities tailored to the needs of women willing to start a business or to improve the one they are already running. Based on the initial research conducted by the HEI in the project, the participating countries Greece, Italy, Malta, Poland and Lithuania are all struggling to offer adequate learning possibilities to women in need for better entrepreneurship and leadership skills.

By taking part at the FIT PROJECT, project’s participants will focus on their personal development, building up their self-confidence, and enhancing a wide set of skills such as entrepreneurial mind-set communication, team working, and other key social skill that can be useful in any part of their life, thus favouring economic growth by building a broad movement of support for women-owned businesses.

The consortium possesses all the skills, competences, experience and knowledge needed to run successfully the project and to achieve the planned results. The partners have been selected taking into account their competences and prior experience to offer greater benefit to the project. They all come from countries where women still need extra support to be able to remove barriers. With this project they are all willing to offer an innovative way to tackle common barriers.
The project contribute to improve the supply of high quality learning opportunities tailored to the needs of women willing to start a business or to improve the one they are already running. Based on the initial research conducted by the HEI in the project, the participating countries Greece, Italy, Malta, Poland and Lithuania are all struggling to offer adequate learning possibilities to women in need for better entrepreneurship and leadership skills. The project will offer new way to foster critical mind-sets needed to help business and the public sector to innovate their processes and systems to accomplish with the high standard set by European and National Governments.

EU Grant (Eur)

Funding of the project from EU: 185070 Eur

Project Coordinator

INSTITUTE OF ENTREPRENEURSHIP DEVELOPMENT & Country: EL

Project Partners

• AREGAI TERRE DI BENESSERE ASSOCIAZIONE CULTURALE
• Skills Zone Malta co. Limited
• Associacio Cultural Meet and Map
• VIESOJI ISTAIGA SOCIALINIU MOKSLU KOLEGIJA
• VIVA FEMINA