Research has shown that concentration of wealth in the hand of entrepreneurs which is not merely a consequence of their higher incomes. The higher saving rate among entrepreneurs is one of the possible explanations for their higher asset holdings and many hypotheses are supported by the statistical tests conducted in the in many papers. The data collected also shows that entrepreneurs experience greater upwards mobility in that they have a greater probability of moving higher wealth classes, and this is not only a consequence of their higher incomes.
In this 21st century, there is no way entrepreneurs can move without mobile phones communication. M-Entrepreneurship wants to offer loans, wealth creation trainings, seminars, and courses to members to boost the already established businesses. The company will be part of the business to be loaned or funded. Loans will be issued as follow:
Class Principle -Savings Loan Interest Time
- 100,000 Tsh.200,000 20% 6months
- 200,000 Tsh.400,000 20% 8months
- 400,000 Tsh.800,000 20% 12months
- 1,000,000 Tsh.2,000,000 20% 2years
- 3,000,000 Tsh.6,000,000 20% 3yrs
For the first time loans will be issued to women and youths who are in organized groups of 4-10 members and must be in existence for more than a year. Their bank statements must show their financial status. Loan repayment will be entirely mobile. Loan guarantors will: Group members, district community development officer and ward Executive Officer.