For the most part, microentrepreneurs are from economically, geographically or socially isolated sections of the population. They belong to informal economic sectors: small trade, street vending, handicrafts, farming… They are in precarious situations and suffer from generally weak levels of education and training.

Microentrepreneurs tend to be found in developing countries, but we are now finding beneficiaries in countries like France, Europe’s most advanced country in relation to the subject. Whatever their country of origin, all microentrepreneurs possess genuine knowledge and skill in their respective fields, and rely on microcredit to develop a small business activity and to help generate a regular stream of income.

Micro-businesses: predominantly what sectors?

Although microentrepreneurs are free to choose their area of business, certain broad categories stand out within which micro-businesses tend to be found.

The retail, farming and restaurant industries all appeal to microentrepreneurs, as do the clothing, handicraft and – to a lesser extent – services sectors.

The extent of micro-business presence within those industries depends largely on the country’s economic structure, on its climate (whether it is more or less conducive to rearing livestock or crop farming) and on its level of development.

Babyloan’s partner MFIs offer targeted financial services tailored to a sector’s needs, previously identified and then adapted to local idiosyncrasies. Micro-businesses differ greatly around the world, according to the unique environment provided by each region, country and continent.