Meet Victoria Obanye
Policy Action Team 3• Commercial Experience
Policy Action Team 3• Commercial Experience• Motivation
Policy Action Team 3• Commercial Experience• Motivation• Confidence
Policy Action Team 3• Commercial Experience• Motivation• Confidence• Cultural Barriers
Policy Action Team 3• Commercial Experience• Motivation• Confidence• Cultural Barriers• High Quality Business Advice
Policy Action Team 3• Commercial Experience• Motivation• Confidence• Cultural Barriers• High Quality Business Advice• Appr...
Identity   1. Passport           2. Driving License           3. Utility Bill
Identity   1. Passport           2. Driving License           3. Utility BillAnalyses           4. Employment           5....
Start up micro business         -    one bank account         -    cash based transactions         -    few invoices      ...
Lender           Average APRMorses Ltd          365%Provident           469%Rhodes Finance      1064%CLC                 1...
Priorities in choosing financialproducts          1. Price          2. Security          3. Brand/marketing          4. Ne...
Priorities in choosing financialproducts          1. Accessibility          2. Flexibility          3. Honesty and simplic...
No-one wants charityThey just want a fair chance
People ProductPerception
EMN Members88 Members in 23countriesFull members, Corporatemembers and PartnersNGOs, Banks, Think tanks,Research institute...
Challenges         1. Variable quality         2. Regulatory challenges         3. Expectation challenges         4. Fundi...
Successful microfinanceorganisations…        Are small or medium social businesses        Have non standard legal structur...
Successful microfinanceorganisations…        Are small or medium social businesses        Have non standard legal structur...
Bring social and commercial investors together                                                  Grants focused solely on a...
…revolutionize finance, starting with the people whom the             mainstream have left behind….
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Which policy instruments are the most effective at financing business start-ups by under-represented groups? By Faisel Rahman, Founder & Managing Director, Fair Finance

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Presentation from the capacity building seminar “Financing business start-up by under-represented groups”, 27-29 June 2012, Trento – Italy; organised by the Local Economic and Employment Development (LEED) Programme and its Trento Centre at the OECD in collaboration with the Directorate-General Employment, Social Affairs and Inclusion of the European Commission. See www.trento.oecd.org

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Which policy instruments are the most effective at financing business start-ups by under-represented groups? By Faisel Rahman, Founder & Managing Director, Fair Finance

  1. 1. Meet Victoria Obanye
  2. 2. Policy Action Team 3• Commercial Experience
  3. 3. Policy Action Team 3• Commercial Experience• Motivation
  4. 4. Policy Action Team 3• Commercial Experience• Motivation• Confidence
  5. 5. Policy Action Team 3• Commercial Experience• Motivation• Confidence• Cultural Barriers
  6. 6. Policy Action Team 3• Commercial Experience• Motivation• Confidence• Cultural Barriers• High Quality Business Advice
  7. 7. Policy Action Team 3• Commercial Experience• Motivation• Confidence• Cultural Barriers• High Quality Business Advice• Appropriate Finance
  8. 8. Identity 1. Passport 2. Driving License 3. Utility Bill
  9. 9. Identity 1. Passport 2. Driving License 3. Utility BillAnalyses 4. Employment 5. Assets/savings 6. Credit history
  10. 10. Start up micro business - one bank account - cash based transactions - few invoices - no accounts - no cashflow projections - no or limited trading history - bad or no personal credit - bad credit history - legality questions 1.
  11. 11. Lender Average APRMorses Ltd 365%Provident 469%Rhodes Finance 1064%CLC 1564%Pay Day 2500%+
  12. 12. Priorities in choosing financialproducts 1. Price 2. Security 3. Brand/marketing 4. New technology 5. Ethics
  13. 13. Priorities in choosing financialproducts 1. Accessibility 2. Flexibility 3. Honesty and simplicity 4. Respect 5. Relationship
  14. 14. No-one wants charityThey just want a fair chance
  15. 15. People ProductPerception
  16. 16. EMN Members88 Members in 23countriesFull members, Corporatemembers and PartnersNGOs, Banks, Think tanks,Research institutes, Funds 72% Practitioners 12% Corporate members 24% Eastern Europe 24% research, consultingcompanies European Microfinance Network
  17. 17. Challenges 1. Variable quality 2. Regulatory challenges 3. Expectation challenges 4. Funding problem 5. Limitation of scope
  18. 18. Successful microfinanceorganisations… Are small or medium social businesses Have non standard legal structures Innovating financial services Conduct a business that the mainstream consider too risky Independent
  19. 19. Successful microfinanceorganisations… Are small or medium social businesses Have non standard legal structures Innovating financial services Conduct a business that the mainstream consider too risky Independent - A regulators nightmare!
  20. 20. Bring social and commercial investors together Grants focused solely on areas where needed most Donors Social investors Increase impact by leveraging Banks commercial finance Lend on commercial terms Benefit from security and ‘first loss’ cover provided by social investors
  21. 21. …revolutionize finance, starting with the people whom the mainstream have left behind….
  22. 22. Meet Mama’s Kitchen
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