The European Microfinance Day was launched in 2015 as a tool to highlight the impact of the microfinance sector in Europe from a social and an economic perspective.
In previous editions, EMN & MFC members marked the day with a wide range of awareness-raising initiatives, such as: workshops, debates, expositions, meetings, press releases, media interviews, open-door days, shareholder meetings, award ceremonies, peer-group meetings and many more.
For this fourth edition of the European Microfinance Day, EMN and MFC will ask again their members to organise local-level activities to spread the meaning and purpose of microfinance. The members have the possibility to organise the day in whatever way best serves the development of the microfinance sector in their respective areas of activity.
4th EMD theme: E=mc2
Breaking with previous trends, the 4th EMD won’t be celebrated under a main tagline but… a formula: E=mc2
Everybody is familiar with this formula, commonly linked to its creator, Albert Einstein. Globally considered as a genius, nowadays Einstein’s photo is even synonymous of creativity, inspiration, imagination.
But, why have we chosen E=mc2 as the tagline for the 4th European Microfinance Day?
Adapting the formula to the sphere of microfinance: E stands for Entrepreneurship, Empowerment, Employment... which comes as a result of MicroCredit to the square.
It’s not a simple equation to say the least. The access to microcredit as in financial services to the excluded from the traditional banking combined with non-financial services, such as mentoring, counselling, BDS, training... may have exponential effect on the beneficiaries’ situation and the society. A few illustrative examples:
- microStart reports €1 invested in microStart pays €4,04 to the community after 2 years of activity - Read more
- In terms of business formalization, microStarts’ clients have dramatically improved their situation. At becoming a client only 52% of all active business were registered at the Banque Carrefour des enterprises (i.e. the national register of enterprises), while as of currently this proportion has grown to 86%. Such an increase attests to the impact that microStart has on bringing its clients into the “white” economy, which in the long-term benefits the micro-entrepreneurs, employees and society in general. - Read more
- The survival rate of companies who received a Qredits loan is higher than that of other Dutch companies.- Read more
- Qredits reports to have created 20.000 jobs since 2009 - Read more
- 71% of existing companies financed by Permicro increased their revenues – Read more
- Among the impacts on public administration, Permicro underlines the reduction of public expenditure of around 3 million euro per year and the increase of governmental income that is around 12 million euro per year, thanks to microcredits to enterprises – Read more
- On average 1,3 Jobs are created per Adie-funded businesses – Read more
This edition of the EMD wants to put the focus on the impact that MFIs have in the financial and social inclusion of European citizens. In other words, to further support the MFIs in their activity to boost Entrepreneurship, Employment and Empowerment public policy needs to be designed taking into account the reality from the field.
The support of innovative funding sources (either public or private) will be fundamental for the further & good development of the sector and creating new opportunities for the “missing entrepreneurs”.
Central Brussels-based Event
Additionally, for this edition, EMN and MFC will reorganise the central Brussels event after a third edition on which efforts were mainly focused on the members’ local action.
The Brussels event will be held on Friday 26 October. Stay tuned, further details will soon follow!
Bosnia & Herzegovina
Mi-BOSPO, Bosnia and Herzegovina
We are more than glad that we continue to be a part of this campaign, and that we have a continuous chance to build a good reputation about microfinance sector and all the possibilities that we provide for our clients and for all the potential clients – Azra Berilo, Mi-Bospo PR Manager
Mi-Bospo will organise a communication campaign to celebrate the 4th European microfinance Day, with the purpose of raising awareness about microfinance sector in Europe and Bosnia and Herzegovina as well.
Mi-Bospo will address their clients, potential clients, young people who are planning their future, women entrepreneurs, as well as our employees.
Mi-Bospo would like their audience “to understand that microfinance is the best opportunity for those who are excluded from the traditional banking combined to improve their live”.
The promotion of the campaign will be done via the website & social networks, by text messages to MI BOSPO clients, and through direct meetings with their clients.
Mi-Bospo will create some video with their clients and we will request their followers to use the official campaign hashtag #2018EMD sharing our releases.
KEPA – microSTARS
KEPA – microSTARS Business Development Services Centers, Greece
- Country Meeting and Networking Event
- E = mc2: “Fighting for Social Exclusion and Unemployment in Europe”
Everyone should be able to have access to finance, a critical factor that may lead innovative ideas to business opportunities - Agni Pagouni, KEPA - microSTARS Communications Manager
KEPA - microSTARS plan to organise an afternoon event which will include two sessions:
- A Round Table Meeting: this will include participants from the European Commission, the European Investment Fund, the Hellenic Ministry of Economy, Cooperative Banks, and other organisations ¡also involved with microfinance services in Greece.
- An Open Meeting: this will honoured by the presence of speakers from the European Commission, the Hellenic Ministry of Economy, the European Investment Bank and the Microfinance Centre.
Main objectives tof this special event are:
- Dissemination of microfinance
- Clarifying the importance of microcredit as an alternative funding tool for everyone who has the entrepreneurship spirit
- Dissemination of latest news and updates on microfinance both in our country and abroad
- Gaining awareness and promote networking
Around -50-70 participants are expected, including
- Very small and small businesses
- Start ups
- Already existing clientele
- Journalists and mass media
- Regional and local public stakeholders
According to Agni Pagounis, "Business is for all and this should be the case for finance as well. We want to make microfinance heard and developed in our country, as we have been working hard to promote this alternative funding tool, not only to the public, but to governmental and various other stakeholders, as well".
KEPA - microSTARS plans to promote the event via website, social media, direct emails and involving the press (newspapers, radios, as communications sponsors)
They also plan to LiveStreaming of the event, and will promote the event through the local supporter “OKThess” to more than 3.000 recipients.