On the 25th of February, YMCB organised a webinar on “Better access to Finance for Migrant and Refugee Entrepreneurs” for staff of financial institutions reaching out to migrant and/or refugee entrepreneurs, trainers and coaches.
Contrary to what many assume or prejudge, financing migrant entrepreneurs can be indeed attractive and profitable for financial institutions. But this requires that staff of such institutions leave the beaten track. It is not only up to migrant and refugee entrepreneurs to learn how to best access and use financing, but staff of financial institutions must also be willing to learn more about:
- The context refugee and migrant entrepreneurs operate and live in,
- The barriers they face while seeking financing and the cost-effective way to help them overcome these barriers,
- The various options for the migrant entrepreneur to choose from: micro, small enterprise or (hybrid) self-employment,
- The real financing needs during different stages of the businesses set up
Only by understanding and taking into consideration these aspects, it is possible to design and offer the right financing to migrant and refugee entrepreneurs.
On the 25th of February, YMCB organised a webinar on “Better access to Finance for Migrant and Refugee Entrepreneurs” for staff of financial institutions reaching out to migrant and/or refugee entrepreneurs, trainers and coaches. The panellists and co-authors – Julie-Marthe Lehman and Albert Coumans from The Hague University of Applied Sciences (THUAS), one of the six YMCB partners – presented four modules to train staff of financial institutions (see also Guide on ‘Financial Education for better access to Finance for Migrant and Refugee Entrepreneurs’, that they developed.
Each module has a special focus:
- Knowing the migrant entrepreneur,
- Guiding the client towards effective financing,
- Assisting in making use of financing,
- Offering the right financing packages
An open discussion followed, in which participants had a chance to have their questions answered by the panellists, and share their opinions and experiences. The discussion was steered by Ewa Bankowska from the Microfinance Centre.
Around 33 professionals attended the webinar, most of them working with financial service providers such as formal banks, non-bank financial institutions, micro finance institutions, representatives of migrant organisations and some staff of non-financial service providers.