How Firew Konjo Advises Shimenas Artisans How to Save Money

28.05.2021
A blog article written by Shimena founder Firew Konjo.

Economical Use of Financial Resources.

The challenge that I observed from the artisans is they used to spend all their earnings they got from weaving without any saving.

The other problem the artisans have is the lack of the habit of saving and proper costing that kept them; they got a big order and did not have money to buy raw materials. They were not able to get loans from anyone.

They were not able to meet the order and thus lost the business. This was a big learning experience and from that time onwards I have started saving schemes that all artisans are engaged in and setting proper costing. Currently, artisans have enough savings to fulfill any orders.

In addition to this we add 20 % of their savings that helps them to open small retail shops for women and the men construct big residences for their family as well as to weave inside their house that protects them from rain when they weave outside.

The challenge that I observed from the artisans is they used to spend all their earnings they got from weaving without any saving.

Together we help each other and create prospects for the future generations of our homeland.

– Firew Konjo

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