ONOW Myanmar Joins Youth Business International’s Rapid Response Recovery Programme, Funded by Google.org, to Support Struggling Businesses During the COVID-19 Crisis
The program, led by Youth Business International (YBI) and funded by Google.org, Google’s philanthropic arm, will support underserved micro, small and medium businesses to respond to the COVID-19 crisis. ONOW Myanmar has been appointed as a delivery partner of YBI in Myanmar. ONOW will now work with YBI to develop and deliver an urgent package of support to struggling local businesses.
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The global economy is suffering from an unprecedented shock as a result of COVID-19. With typically tight margins, micro, small and medium businesses are vulnerable to economic downturn. The current pandemic is having a particularly serious impact on business owners and entrepreneurs from underserved communities, including young people (aged 18–35 years), women, and refugees and other migrants. Many are struggling to get through the crisis and need support now.
Business owner Aye Thidar said:
“Since the COVID-19 pandemic breakout, I was forced to stop running my business, but I want to resume my business as soon as possible. I will need coaching support and a better understanding of the digital economy from ONOW.”
ONOW’s program will prioritize underserved businesses from across Myanmar, including female business owners and migrant-owned businesses. By leveraging ONOW’s chatbot technology and eight years of experience in coaching MSMEs, the program will support 15,000 with individualized coaching and virtual peer support groups, and an additional 40,000 MSMEs with extensive online public content. ONOW will release an automated digital coaching platform on July 1, which is designed to guide business owners through recovery from the COVID-19 economic crisis.
ONOW expects to partner with multiple Enterprise Support Organizations, non-profits, financial institutions and government to feature additional support services for MSMEs. ONOW will draw from experienced business owners and industry experts to provide digital content focused on business risk assessments, business model pivots, financial management, and problem solving. Google employees will also volunteer time to share knowledge and expertise, helping business owners upskill and adapt in response to the crisis.
Matt Wallace, Managing Director of ONOW, said:
“As an organization we have long been committed to serving underserved business owners, and we have adapted our approach to ensure these businesses can survive the COVID-19 pandemic. We are excited to be part of YBI’s rapid response recovery program funded by Google.org.”
The global programme is led by YBI, an experienced network of enterprise support organisations. It will support over 200,000 small and medium business owners across 32 countries across Europe, the Middle East, Africa and Asia Pacific to respond to and recover from the impact of COVID-19.
Anita Tiessen, CEO of Youth Business International, said:
“The world is changing dramatically from day to day and I feel deeply for business owners everywhere, especially those running smaller businesses and are from underserved communities, who are often least able to bear the economic shocks of this crisis.
In the face of these challenges, I have been incredibly inspired by the quick response of our network to support business owners around the world. YBI, with Google.org’s new funding commitment, will help us sustain and extend this support throughout 2020, ensuring more than 200,000 businesses can get the advice they need right now to navigate this crisis.”
Rowan Barnett, Head of Google.org, EMEA & APAC, said:
“The coronavirus outbreak is taking a devastating toll on lives and communities, and small businesses are facing unprecedented challenges as they struggle to stay afloat. With this grant to Youth Business International, alongside a series of Google initiatives and products, we hope to help some of the most vulnerable small businesses find a way through the crisis.”
NOTES TO EDITORS
ONOW Myanmar (ONOW)
ONOW enables female migrants in Myanmar to become empowered entrepreneurs who are financially capable. ONOW increases the income and confidence of female migrant entrepreneurs through tech- enabled business incubation. Business owners are connected to a bank account and startup loan, guided through digital transactions and business idea creation, and coached through market research, validation, launch and success. Visit www.onow.org or email info@onow.org to learn more.
Youth Business International (YBI)
YBI is a global network of expert organisations in over 50 countries supporting underserved young people to turn their ideas into successful businesses, creating jobs and strengthening communities. Our vision is a world where youth entrepreneurship is recognised for driving sustainable economic development and all young people who want to set up a business can fulfil their potential. We connect our members to share expertise and collaborate on solutions to common challenges. Visit www.youthbusiness.org.
Google.org
Google.org, Google’s philanthropic arm, supports nonprofits that address humanitarian issues and apply scalable, data-driven innovation to solving the world’s biggest challenges. We accelerate their progress by connecting them with a unique blend of support that includes funding, products, and technical expertise from Google volunteers. We engage with these believers-turned-doers who make a significant impact on the communities they represent, and whose work has the potential to produce meaningful change. We want a world that works for everyone — and we believe technology and innovation can move the needle in four key areas: education, economic opportunity, inclusion and crisis response.
