Southern Laos and ADB invited EDC, a+b=3’s partner in Laos, to run a three day training in the village of Ban Saphai, near Pakse in Champasak province to improve the financial management of the weavers -both of their business and their family’s expenses – and encourage product diversification.
Today’s topic was business finance. Through a story, participants identified business issues and the importance of bookkeeping. Then, they practiced recording incomes and expenses, separating business and personal/family expenses, calculating a profit and using their record of past expenses and incomes to plan future sales and expenses, and avoid taking a loan without assessing their financial situation for the coming weeks first.
