Expansion Travel Agency

Summary

Creating jobs in tourism industry in Sierra Leone.

Lack of access to finance makes it very difficult for Small and Medium Enterprises in Sierra Leone to grow its businesses. VSL Travel is one of them. With the loan of Cordaid the enterprise will be able to increase the fleet of vehicles for hire and to support its marketing activities, so that it can increase high quality services to its clients. As a result 8 jobs will be created.

Goals

  • Expansion of travel agency

Background

One of the major issues for entrepreneurs in post-conflict and post-Ebola Sierra Leone is access to finance and lack of capacity. In 2015 Cordaid has given business development training courses to 15 Small-Medium Enterprises (SMES). The selected SMEs have a a proven growth potential and can create social and/ or economic impact. Through the trainings SMEs can build their capacities and become investment-ready. The company VSL Travel is one of these SMEs. VSL Travel is a tourism and travel services provider. It offers the following services: flight ticketing; vehicles hires and airport transfers; excursions/tours; hotel bookings; visa processing; and other personal/corporate travel services. The company will now receive a long term loan through Cordaid’s Stability Impact Fund. With this loan the company want to improve its marketing activities and increase its fleet of vehicles.

Initial situation

In 2015 Cordaid gave a business development training course to this company.

Goals

We aim to create jobs in fragile communities and improve access to finance to SMEs in fragile communities. This project ensures that one SME is able to get a loan. This loan and the additional permanent coaching of the enterprise ensures that the turnover of the company is expected to grow with more than 100%. To be able to achieve this growth the enterprise will need to hire 8 additional people ( of which 4 women, 2 young people).

Goals

  • Expansion of travel agency

Target group

The direct target group is the SME that was not able to get a loan before from banks in Sierra Leone. The beneficiaries of this project are the 8 new employees that will be hired.

Project plan

VSL Travel offers the following services: flight ticketing; vehicles hires and airport transfers; excursions/tours; hotel bookings; visa processing; and other personal/corporate travel services.
The purpose of the investment is mainly to increase the fleet of vehicles for hire/rent with 4 brand new ones. It has existing 5 vehicles which are fully booked. The other component of the investment is to support VSL with various strategic marketing activities – several advertising activities locally and online for the international market. As part of expansion, VSL also intends to be accredited by the International Air Transport Association (IATA) to further achieve business growth.

Sustainability

The company exists for already 12 years. With this investment the company is able to grow and can become more competitive. This loan will make the company more sustainable.

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