Financial Inclusion for Small Business Owners

Impulsa Tu Empresa (ITE) is the first successful financial inclusion intervention for low-income micro business owners in Chile. The project began in 2014, funded by MetLife Foundation, helps micro business owners to improve their managerial practices, develop a better understanding of financial products and services and facilitate the adoption of financial products and services that can help them to improve their enterprise performance and life quality. Each cohort has shown a 50 percent average increase sales, over 40 percent improvement on saving capacity and higher usage and adoption of financial products and services. ITE has supported more than 700 micro business owners and there are plans to scale the program in the following years.