Microlux is currently a non-profit social enterprise. What motivated the decision to transform it into a société d’impact sociétal (SIS) and what does this mean concretely for Microlux?
: Microlux was founded as an S.A. (limited company), because at the time the SIS status did not exist. However, since its creation, Microlux has operated as an organisation with a very strong social mission, anchored in its articles of association. The founding shareholders--BGL BNP Paribas, the European Investment Fund, the NGO Appui au développement autonome (Ada), the insurance group Foyer and the French microfinance institution Adie--created Microlux to provide a response to a social problem: the financial exclusion of a certain number of micro-entrepreneurs who are unable to access traditional bank financing to start up their professional activities.
It was therefore only natural for microlux to become an SIS, to give a higher profile to its social mission
It was therefore only natural for Microlux to become an SIS, to give a higher profile to its social mission, and to benefit from the SIS label, which has developed considerably in recent years.
How will this change help your company in its efforts to help microentrepreneurs in the Luxembourg area better develop their businesses?
After almost eight years in business, we can see that support--both financial and above all non-financial--is a decisive factor in the success of microentrepreneurs’ business projects. Thanks to the SIS label and a clearer social mission, we hope to develop our support activities and attract more sponsors to help us fund this support. We also hope to motivate more volunteers to join the current team.
You mention in your press release that you have helped over 260 entrepreneurs to start their businesses. Is there a new numerical goal in mind now that you have changed your company model? Will anything change for the entrepreneurs you are working with?
In addition to the 260 entrepreneurs supported by funding, Microlux has helped more than 1,000 people at various stages of their business projects. So when we measure our impact, it’s not just the funding that we’re measuring, but the total number of people we’ve been able to support in their business creation projects. We aim to be able to help 300 people a year, by expanding the range of support we offer!
Achieving this ambition is closely linked to the granting of the SIS label and the unequivocal social positioning of Microlux as the leading financial partner for micro-entrepreneurs who do not have the financial resources or the necessary guarantees to obtain bank loans.