You may have already read the post on Equus Education about providing finance to people who have a horse business plan. Of course, this often happens in the form of a loan, on which you need to pay interest. Recently on Vision Radio I heard an interview with a gentleman who is involved in microfinance in the Philippines. And of course I got to thinking about microfinance for horse small business. (No I’m not obsessed!)
So what’s the general idea? Well, if we use the example from the Philippines, $150 USD was provided to people who had a business idea. With this (small) sum of money they were able to start a business.
It could be to buy product or something to help them provide a product or service that they could sell. Alongside this money, they were also provided with training and encouragement to get their business off the ground. Within a short time span, they were also expected to pay back the money that they had been loaned. This was interest free. Any other money they made after paying back the loan was theirs to live on / provide for their family and future.
I love this concept of empowering people to do things for themselves. Sometimes all someone needs is a helping hand to get out of a poverty cycle. This could be a cycle that may have affected their family for generations. With the accountability of paying back what they’ve been loaned, they aren’t being given something for free. Rather, they are being provided with an opportunity to earn and be responsible for themselves.
Microfinance for Horse Small Business
So how could microfinance apply to horse small business? What if a particular setup provided $150 USD to individuals to start a horse business? Is this enough? For some things, sure!
- $150 could help to buy a website and pay for hosting – it would cover the hosting and .com renewal of Equus Education for a year.
- It could be used for someone to undertake a course that educates and enables them to earn, like with my Equine Passive Streams Course at Udemy.
- Maybe the money could be used to pay an editor, get a book cover designed and publish a book. Electronically, you can publish a book for free on many platforms and earn a return as soon as someone buys.
So how would such an initiative benefit the person providing the money? Not in the form of interest earned on the money loaned. But what about in the form of raising the economy in particular areas, or even worldwide? In time, if the concept grew, maybe different people could volunteer their time and resources in various areas.
For example, maybe $150 USD in a third world country could buy a horse or donkey that could be used as a pack horse or trail horse for tourists. In this way, it could be bringing in consistent money for the owner. Buying second hand horse books off eBay or in opportunity shops and selling them in sets could generate a handy return.
There are so many little things that could be done with $150 to turn it into a greater sum of money and in time, maybe even a viable business. With so many people in the world below the poverty line or on government benefits, for those with an interest in horses, could you see microfinance for horse small business working?