Purple Shoots

About

Purple Shoots is a Charity and a Licensed not-for-profit microfinance organisation, set up to tackle unemployment and economic problems in the areas where it operates. Our goal is to improve the situation of people on a lasting basis, and to give opportunity and dignity to those unable to find work. This will help the poorest communities, encouraging independence and small business.

Purple Shoots will offer small loans at fair rates to those who are unable to obtain a little support from elsewhere. We will help develop their business ideas and their business skills, to help set up and grow their own small businesses.

We realise that small businesses are very important to communities in Wales. Purple Shoots will try to help in 3 ways:

1. By helping people we will build confidence in people who want to start their own business.
2. By lending just enough to get going we will also be helping the community they are from.
3. By giving advice and mentoring in the early days we will help make those small businesses successful and last longer.

Purple Shoots will try to:

Create small groups of potential new business owners (called self-reliant groups), encouraging them to develop a business idea and helping them put their plan together, before offering a start up loan. This is a key part of our business which will reach out to those struggling with unemployment and lack of opportunities.

Offer straight forward small business loans to people starting out or already running a small business.

Help the new business owner understand what is needed to get going properly so that a steady income for the business develops and the business lasts.

As a charity, all our profits will be used for further lending and to help the aims of the company. Income will come from charging interest at a reasonable rate.

Keywords

finance, social justice, levelling up, entrepreneurship, ethical loans, startups, community development, mentoring

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