CAMBODIA phnom penh PHSAR DAUM KHOR branch THAILAND
In 2 short years, Sovang CHHUM a has developed her business and helped her two eldest start their own.
Phom Penh VIETNAM
r. and Mrs. Chhum have 5 children, aged 9 to 20. Mr. Chum is a construction worker while Sovang sells vegetables at the market. For years, despite her hard work, Solvang couldn’t get her business to bring in enough to cover the family’s expenses: she didn’t have enough working capital and sales just wouldn’t take off. She had tried to develop her business by borrowing 200,000 riels (31 €) from a moneylender, but the interest was prohibitive. In fact, trying to reimburse this loan destabilised family finances even further. In
July 2006, Sovang heard about Chamroeun, our partner in Cambodia, and the Phsar Daum Khor branch conveniently located in the market where she works. She requested a loan from our partner, with the help of a Chamroeun counsellor. The team put their faith in her, granting her an initial loan of 300,000 riels (47 €). With this first loan, plus another 7 (the most recent, which she received in August 2008, is for 1,000,000 riels or 157 €), each of which was meticulously repaid, Sovang has systematically and successfully developed her business over the last two years. www.entrepreneursdumonde.org
She has increased the variety of vegetables she sells and now also offers dried fish, sausage, and eggs. Her weekly profit has grown from 90,000 to 195,000 riels (14 to 31 €). Sovang’s little business now provides sufficient funds for her to buy the family’s rice in larger quantities and, thus, at lower prices. Sovang is also proud of the savings she has begun to set aside (15 €) and that she has been able to help her children launch their own businesses: the eldest repairs hair dryers and the next eldest sells notebooks, pens, and magazines.