This World Entrepreneurs' Day, Opportunity International Australia is celebrating the ingenuity of those around the globe disrupting traditional markets, developing a product or service, and turning their ideas into a business.

While there’s so much to celebrate in Australia, and there are an estimated 582 million entrepreneurs around the world, there are millions of entrepreneurs living in poverty in developing countries.

Opportunity International Australia works with female entrepreneurs in Asia, providing them with small loans (e.g. A$200) to help support or start their own businesses, using their skills and determination to create a pathway out of poverty. For example, using a loan to purchase a sewing machine and start a tailoring business in India, or buying equipment for a seaweed-farming business in Indonesia. Last year Opportunity supported 6.5 million families with small loans in Asia.

_{Bharvad, who bought a sewing machine with a small loan}

Aussie businesses ending poverty through partnership

Microfinance has proven key for micro, small and medium enterprises (MSMEs) to build back after the pandemic, with a recent study by 60 Decibels proving that small loans have improved quality of life, helped families save and send their kids to school.

In Australia, Opportunity is fortunate to partner with corporate supporters passionate about helping women build a better life for their families with a sustainable income – including RedZed and Agile IT Solutions.

Melbourne-based RedZed provide loans for self-employed Australians, empowering local business-owners and sole traders with flexible finance solutions – providing opportunities to entrepreneurs who often lack access to traditional banking.

“A natural synergy exists between what we do for the underserviced self-employed community here in Australia, and the work that Opportunity does to support female entrepreneurs experiencing poverty,” says Petra Zutic, Head of Marketing at RedZed. “We’re passionate about having a social impact, connecting communities, and supporting those in need via our outreach activities.”

_{Opportunity staff at a RedZed event in early 2023}

Another corporate supporter Agile IT Solutions is a Victoria-based small business, led by entrepreneur and founder Linden Jackson, and his wife Letecia. Linden started his career working in IT helping small businesses and home users, before moving onto work for a larger corporate business. After feeling a disconnect and like he wasn't making more of a direct impact, Linden decided he wanted to start his own IT provider supporting small businesses in Australia, while also giving back to entrepreneurs Opportunity supports overseas.

"One of our core values is helping small businesses,” said Linden. “That’s why we found our business aligns well with Opportunity’s work, as they are giving entrepreneurs an opportunity, not only with loans, but with health, education and women’s safety.”

_{Linden (left) with the team at Agile IT Solutions.}

Reaching women-led small businesses with support

One of the entrepreneurs Opportunity has supported with small loans is Rani. She is a buffalo farmer in north-west India, whose family was struggling financially before receiving a loan from Opportunity’s local microfinance partner in India to purchase a buffalo.

Buffalo farming is an important component of India’s rural economy, with the animal’s milk fetching a higher price than cows, due to its high proportion of fat content, which is twice that of cows.

As well as being able to sell the milk for additional income, Rani could also provide the nutritious milk to her children. Today several loans later, she is a successful businesswoman in her village, with newfound confidence, transforming life for her and her family. Rani now owns six buffalos, thanks to years of hard work and microfinance loans.

“We see ourselves as financially empowered now,” she says.

_{Rani with the youngest of her three children}

Last year we supported 6.5 million women across Asia with small loans. Learn more about the impact of Opportunity's work, including microfinance, health, education and women's safety.