The coronavirus hasn’t stopped microStart

Founded in 2011 by the Association for the Right to Economic Initiative (ADIE), BNP Paribas Fortis and the European Investment Fund, microStart is an indispensable player in the development of small and medium-sized enterprises in Belgium.

More than 5 million euros to grow the economy

The results in 2020 of the microcredit institution bear witness to this. Despite the pandemic, microStart has granted 583 microcredits in Belgium (only 41 less than in 2019), for a total amount of 4.12 million euros. In addition, a little more than 400 of these microcredits benefited from a 0% ‘honour loan’, which represents an additional €1 million.

A very strong signal

“45% of the entrepreneurs we have financed are starters. The level of business creation was very high between the two confinements, especially between June and September”, explains Emmanuel Legras, CEO of microStart. “A lot of people, despite the current situation, have created their business, it’s very encouraging. These are people who have bounced back during the crisis or who have had the motivation to change direction”.

A moratorium for 50% of clients

The coronavirus crisis has also seen microStart develop a range of measures to support entrepreneurs. “Nearly one out of every two clients has benefited from a moratorium, lasting an average of four months,” says Emmanuel Legras.

Webinars, and MicroStarters Week

The microfinance organisation has also created a series of webinars in 2020 to support its clients during the health crisis, as Canal Z explains in this report.

As every year, microStart has also just organised the MicroStarters Week, at the end of February. This is an annual campaign, 100% digital this time that aims to raise awareness and promote entrepreneurship and microfinance to the general public.

A digital 'counter’ by the summer

The microcredit organisation has plenty of projects planned for the coming months. For example microStart is planning to launch a 100% digital platform by the summer, which will make it possible to apply for a microcredit online.

From 5 to 13 service points by 2023

microStart also plans to expand its presence in Belgium. “We are going to close our five branches in order to integrate our teams into the branches of one of our shareholders, Partena Professional. This will allow us to grow from five branches to thirteen service points by 2023, confirms microStart’s CEO.

microStart and BNP Paribas Fortis

You are invited you, in conclusion, to consult these two articles on our partnership with the microfinance organisation and our efforts to support women entrepreneurship.