In 2023 Microlux had 259 potential project applicants, representing a 10% increase from the previous year, supporting over 200 project leaders and disbursing 47 microcredits.
Microlux, the non-profit social enterprise promoting entrepreneurship, revealed its achievements in its 2023 activity report. Over the past year, the organization has seen a surge in interest, with 259 new prospects, marking a 10% increase from the previous year.
Additionally, Microlux applied for the Societal Impact Company (SIS) label to enhance its social impact, with plans for finalization in 2024.
The increase in demand for Microlux reflects a gap filled by the organization’s role in financing aspiring entrepreneurs who do not have access to traditional banking loans. This increased interest by applicants displays the organization’s recognition for providing support and resources to those seeking entrepreneurial guidance, through business coaching and microfinancing. This influx led to the support of 240 entrepreneurs through microloans and the backing of over 1,000 individuals in their business creation.
Notably, 380 jobs were created and sustained, displaying Microlux’s impact on the local economy of under-represented entrepreneurs. Since its establishment, seven years ago, Microlux has provided support to over 1,000 individuals on their business creation journey.
New events and partnerships
Each micro-loan and support offered by Microlux represents a unique story of an individual seizing control of their destiny through entrepreneurial pursuits. These success stories of supported projects were seen at the second edition of the MyMicrobusiness competition, which honoured four winners at an awards ceremony hosted by BGL BNP Paribas.
In addition to the awards ceremony, the second edition of the Entrepreneurs Market, will take place from 24 to 27 May, at Belle Etoile, where ten entrepreneurs supported by micro-financing will display their work at the shopping center.
Microlux expanded its network in 2023 by welcoming two new partners, the André Losch Foundation and The Human Safety Net Foundation. Their support facilitated the modernization of Microlux’s digital infrastructure, enhancing its visibility and reach.
A link to the microMap showcases specific profiles and listings of currently supported entrepreneurs and their projects.
