Archive for August, 2010

Can Every Poor Person Be An Entrepreneur?

August 31, 2010 1 comment

I have been pondering this question for the last few days after I came across an article that claimed that P2P micro lending was missing the point in assuming that all poor people had the capacity to be entrepreneurs and was making a case for not funding poor people until their entrepreneurial skills were justified. I thought about the impact that Kiva has made and I thought that if really entrepreneurship (in this case micro entrepreneurship) was such a rare skill then how it is that Kiva has funded over 3800 entrepreneurs with a default rate of just 2%? it must mean that their businesses are flourishing right? so is entrepreneurship a learned skill or something one is born with and just how common is this skill??

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P2P lending start-ups: easy or impossible

August 17, 2010 3 comments

MyAzimia is a dynamic young start-up which is in the process of launching a P2P lending platform that we will make available for purchase by other interested entrepreneurs or microfinance organisations. We started out wanting to set up our own P2P Lending platform but we hit a couple of brick walls when it came to doing things by the book and ensuring that we were in line with EU regulation. Contrary to what most of world thinks, Europe’s regulations are not uniform and the rules for setting up a P2P lending operation in Germany are completely different from those in the UK. Some countries would require a company to apply for a banking license (depending on your business model) while others would only request a simple company formation with nothing more in addition. Really! a couple of us should start a lobby group to encourage European regulators to make the process of setting up a p2p lending operation and regulation of such a much easier process as this actually is an innovative way for individuals to get capital for variuos economic growth orientated projects! So, myAzimia has taken the bold decision to shift our business model to be more business to business as we believe we have built a state of the art platform that is reasonably cheaper to purchase rather than developing the system in-house. Our site will be complete shortly with all the details.. watch this space!

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