Microlux Supports 240 Entrepreneurs in 7 Years

Microlux, Luxembourg’s first microfinance institution, recently published its 2023 activity report, noting it supported 240 entrepreneurs and more than 1,000 people after seven years of activity.

In 2023, 259 new prospects (up 10% compared to the previous year) sought out Microlux. More than 200 project leaders were supported and 47 microcredits were disbursed.

After seven years of activity, Microlux presented its overall results noting:

• it supported 240 entrepreneurs in Luxembourg with a microcredit;
• it helped 1,000 people in their business creation project;
• it created and sustained 380 jobs.

Microlux added that “beyond the numbers, each microcredit and each support tells a unique story of a person who takes control of their destiny by starting their entrepreneurial activity”. The microfinance institution added it strives to highlight success stories, particularly during key events such as the second edition of the MyMicrobusiness competition, which rewarded four winners during an awards ceremony at BGL BNP Paribas and the Microlux Entrepreneurs Market at La Belle Star. Ten entrepreneurs presented and sold their products and services on this occasion.

The year 2023 was also marked by the expansion of the Microlux network with two new partners, the André Losch Foundation and The Human Safety Net Foundation. According to Microlux, the partnerships allowed them to modernise their website and improve their visibility with the implementation of a digital marketing strategy. They emphasised that this strengthens their capacity to better serve beneficiaries and expand their impact among the most vulnerable entrepreneurs.