Rhumveld is a proud company ambassador of Oxfam Novib’s entrepeneurs for entrepeneurs network. We help small businesses in developing countries through microfinancing and training courses. This is an effective method for building up an independent existence and defeating poverty.
Oxfam Novib started in 1956. Three Dutch people, one of whom was father Simon Jelsma, decided to start providing structural aid to people in need. After the flood disaster of 1953 the Netherlands received a lot of aid from abroad, and it was felt that after the recovery work it was their turn to help others. Since then, they have grown into a global movement of people fighting poverty together.
Poverty is unacceptable and unnecessary. Oxfam Novib takes action in cooperation with millions of volunteers, supporters, donors and colleagues all over the world.
They also support the growth of small and medium-sized enterprises in developing countries on the basis of business development and loans. More growth for these businesses stimulates the local economy, leads to more jobs and has a positive social impact on the community. In other words: there is a social return. They also urge institutions and large companies to change towards a
sustainable, inclusive commercial chain.
How does microfinancing work?
- Microcredit is a small start-up capital in the form of a loan. Entrepreneurs in developing countries often can start up their business with a microcredit of as little as 50 euro. They repay the loan in instalments.
- In addition to a microcredit, starting entrepreneurs will receive training. Oxfam Novib’s partner organizations will help them get started with training on bookkeeping and the development of professional skills.
- Oxfam Novib works together with local partner organizations with a good knowledge of the local situation.
- Oxfam Novib uses the repayments of the microcredit to issue new loans and start up microfinancing projects.
- Ofxam Novib offers individual continuation loans to promising small businesses. This allows entrepreneurs to work on the growth of their business step by step, and provide employment in the immediate vicinity.
More than 750 Dutch entrepreneurs are now committed business ambassadors. Together they form the Entrepreneurs for Entrepreneurs Network, the largest and most inspiring CSR network for SME’s in The Netherlands. In this way, businesses contribute to the Global Goals for Sustainable Development for a better world by 2030.
In 2016-2017, the Entrepreneurs for Entrepreneurs Network raised € 2.1 million for microfinancing for small entrepreneurs in developing countries. Thanks to this support and the gifts from others, 300,000 start-up businesses can now borrow money, save or take out insurance via our microfinancing partners.