Financial Inclusion for Small Business Owners

Impulsa Tu Empresa (ITE) Chile was the nation’s first successful financial inclusion intervention for low-income micro business owners. Funded by MetLife Foundation, the project helped micro business owners to improve their managerial skills through six months of business training, while also improving their understanding and use of financial services. In 2015, TechnoServe conducted a study based on interviews and data from ITE participants, compiling lessons learned and recommendations to inform the development sector and policy decision-making around small business development and financial inclusion. From 2014 to 2016, ITE Chile supported more than 700 micro business owners in Santiago and Valparaíso, helping them to increase their sales by an average of 50 percent and to improve their savings by 40 percent.