Blog | July 3, 2019

Access to finance for migrant entrepreneurs: sharing strategies for success

Access to finance for migrant entrepreneurs
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From 3-4 April, over 70 participants came together in Barcelona for a workshop on access to finance in migrant entrepreneurship support, jointly organised by two European Consortia: M-UP and MAGNET – Migrant Acceleration for Growth Network. Youth Business International (YBI) is proud to be a founding partner in the M-UP initiative – The Network for Migrant Entrepreneurs to Scale Up and Grow.

The event brought together a variety of participants to collaborate on needs and barriers in migrant entrepreneurship, in particular in access to finance. Alongside representatives from the migrant community, there were attendees from organisations supporting migrant entrepreneurs, as well as policy makers working to improve the business environment.

There was plenty of opportunity for networking with the other attendees; to share ideas and experiences and explore opportunities for future collaboration to collectively further support for migrant entrepreneurs. The event highlighted a joint understanding of the importance of supporting migrant entrepreneurs for economic development, social cohesion and community integration.

 

The Barcelona Declaration

The final session of the day and the workshop was a collaboration and ideation exercise in order to come up with ideas for a manifesto for migrant entrepreneurs. As well as the event’s focus on access to finance, areas of discussion included digital, regulation, social networks and capacity building approaches. One participant said that “we need better representation of migrants in the public sector and better education in general”. Another noted “increasing transparency across regulation would make things easier for migrants”.

Using the outcomes of these discussions, The Barcelona Declaration will be created – a manifesto for migrant entrepreneurship that will incorporate one of the main outcomes of this event; that a holistic approach is needed for access to finance in migrant entrepreneurship. Stay tuned to hear more about this!

“It was amazing to work together with such an incredible pool of experts and organisations sharing best practices and building recommendations on improving access to finance for migrant entrepreneurs in Europe”.

 

About M-UP:

M-UP (The Network for Migrant Entrepreneurs to Scale Up and Grow), funded by the European Union’s COSME Programme, brings together expert organisations from across Europe to help migrants navigate the challenges of turning their existing microbusiness into a successful small to medium sized enterprise (SME). Visit the website to learn more.

Assistant Managing Director of GEN Spain at Autoocupació. Graduated in International Business Economics and passionate about entrepreneurship.… About the author