According to the OECD/European Commission’s Missing Entrepreneurs report (2023), around 40% of young people in the EU (aged between 15 and 30) would prefer to become entrepreneurs. However, many of them face obstacles, especially when it comes to obtaining finance. The Microfinance in Europe Survey 2023, conducted by Microfinance Sector and the European Microfinance Network, highlights the key challenges faced by young entrepreneurs:
- 1. Limited experience (60%);
- 2. Lack of collateral (46%);
- 3. Limited credit history (42%).
Despite these obstacles, in 2022, microfinance organizations in the EU provided financial support to more than 151,230 young entrepreneurs to develop their businesses. This proves that together we can create a more inclusive entrepreneurial environment and open new opportunities for the next generations! Microinvest joins the international campaign “Microfinance for Youth Entrepreneurship” organized by Microfinance Centre, to make financial services accessible and create real opportunities for the next generation of business leaders.
More than 1280 young entrepreneurs develop their business with Microinvest
Victoria, Vasile, Ion, Dana and Nicolae are just some of the young entrepreneurs, Microinvest clients, who were able to realize their business ideas thanks to our support. They received the right financial solutions, advice and assistance. How do they describe cooperation with Microinvest and how important it is to get financial support at the right moment, especially at the initial stage of business development? Find out below.
Victoria Gulpe, an IT specialist by profession and a young mom, discovered granola when she started preparing it for her family and loved ones. Thus, was born Granoleya, a business specializing in granola production in various variations. To expand her business, the entrepreneur turned to Microinvest.
“The most important thing is to have partners who believe in your idea and are ready to support its development. In the development of our idea, we were financially supported by Microinvest, thanks to which we were able to purchase all the necessary equipment for granola production: a professional oven, stainless steel tables, trays, oven racks, and a sink. We also expanded our production premises.”
Vasile Munteanu, a young farmer, has been passionate about sheep breeding since childhood. In 2014, he decided to turn his hobby into his own business, acquiring 400 sheep. He had to overcome many challenges and even went to work abroad, to finally return home and start his soul business from scratch with the financial support offered by Microinvest.
“I was always skeptical about loans. I thought it was better to do everything with my own money to have peace of mind. Yes, that's good, but it's a lot harder and takes longer. When I came back from abroad and calculated how much money I needed for a new paddock and a production area, I realized I couldn't do it on my own, and I didn't have the time. So, I took a loan from Microinvest. Everything went very well: I received the money quickly, paid it back on time and developed my business plan.”
Ion Anghel, a Microinvest client, started from a small shop, where he sold laminate flooring in a limited assortment. Thanks to his hard work, he expanded his business in a few years and today he cooperates with manufacturers from different countries such as Turkey, China and Poland. Now his customers can choose the most modern and high-quality laminate models for any room.
“I started cooperating with Microinvest even before I founded my business. At that time, I used a loan for personal needs. Later, when we launched the business and needed capital, I turned to them again without a doubt. I recommend them to everyone I know, especially entrepreneurs. Their support has been instrumental in the growth of our business. They are a team of professionals and it shows in both their responsible financial services and their development over the years. They have grown beautifully and help other businesses grow on a daily basis.”
Noticing the lack of educational activities for children in small towns, young entrepreneur Dana Golban decided to create an educational center where children could develop important skills through modern and engaging teaching methods. So, five years ago, she opened an academy for children between the ages of 4 and 14 in her hometown of Drochia. To develop and expand her business into new locations, the entrepreneur turned to Microinvest for support.
“In my opinion, business requires continuous investment. Loans accelerates business growth by providing quick access to capital and increasing profitability. However, it is important for entrepreneurs to properly assess their ability to repay and their level of debt load, and this is where Microinvest comes in.”
Young entrepreneur Nicolae Deleu proved by example how a childhood dream can turn into a successful business. Starting with a small fitness club, which eventually expanded into a network of successful fitness halls, Nicolai was able to develop the business in Moldova, staying true to his mission – to popularize a healthy lifestyle in the regions of the country.
“My cooperation with Microinvest started when I was at the stage of realization of my project and was looking for financial support. Thanks to the individual approach, professionalism and trust, especially to young entrepreneurs, I received not only the necessary funds, but also valuable advice on business management.“
We firmly believe that young people in Moldova have the potential to turn their ideas into successful businesses, and access to the right financial resources is a key step towards realizing their dreams here at home. By participating in this international campaign, we are reaffirming our involvement in supporting local economic development and contributing to a more prosperous future for young entrepreneurs.
