Microcredit in Europe is at the crossroads of economic development, job creation, financial inclusion, professional and social integration. It is generally defined as loans of less than €25,000, coupled with training, counselling and other non-financial services. It is targeted at persons excluded from banking services, with the aim of helping them to create or develop usually very small businesses. With the support of public authorities, microcredit has experienced significant growth since the early 20001s. Although microcredit in France remains relatively modest in terms of volume and of the number of loans granted annually, France is nonetheless one of the countries of the European Union (EU) where microcredit is the furthest developed.
This Note d’analyse presents the results of a survey conducted in 2013 by the International Labour Office in partnership with France Stratégie and the Caisse des Dépôts et Consignations (CDC). The survey covers the activity, employment and career path of 4,204 entrepreneurs who started or took over a business in 2010 with funding and/or support from one of the main microfinance providers and business creation networks in France.
The results show a high business survival rate after three years, as well as sustainable labour market integration for microcredit recipient. The conditions in which the activity is pursued can nonetheless be difficult during this first three years, and business creators sometimes find that post- start-up assistance is insufficient in this respect. Most entrepreneurs are on the whole satisfied with their experience of creating a business. The support provided by business creation networks (whether via finance or counselling) is widely appreciated.
Three years later: Employment situation of entrepreneurs having created/taken over a business
Summary: Professional microcredit and support to business creation in France: Three years later, what is the employment situation of entrepreneurs?
- What is professional microcredit in France?
- Professional microcredit and support for business creation: what is the employment situation of business creators three years later?
Authors: Bernd Balkenhol, Microfinance Consultant (ILO) and Camille Guézennec, France Stratégie