How credit score training leads to wider reach

Reem attended SPARK’s Findex training funded by the European Union. Learning about how to increase her Findex score enabled her to contract with large shipping companies, increasing the geographical reach of her products to the United States and Canada.
Skills development services, such as trainings to encourage raising credit score of refugees, can play a crucial role in supporting refugee entrepreneurs to rebuild their lives and create successful businesses. Reem Wafai, an entrepreneur from Aleppo, is an example of how this support can make a real difference. Reem’s business, Baklavati.com, delivers traditional Aleppo sweets to customers worldwide through a website and a mobile application.
SPARK, with the support of the European Union through the EU Regional Trust Fund in response to the Syrian crisis, the ‘MADAD’ fund, provided skills development services to refugee entrepreneurs including Reem, who was able to expand her business to the United States and establish a strong online presence.
Reem attended a training session on Findex score for refugee community in Türkiye, which is a credit scoring system that enables individuals to prove their financial reliability in the eyes of potential business partners. Reem used the information provided to her in the Findex training and increased her Findex score. This enabled her to contract with large shipping companies increasing the geographical reach of her products to the United States and Canada.
A higher Findex credit score can also benefit refugee entrepreneurs by increasing their access to financial tools. Reem herself attests to this, stating that a higher Findex score helped to increase her credit card limit, making her company’s financial cycle much better.
Increasing the business capacity of refugee entrepreneurs like Reem not only helps them provide for their families but also contributes to the wider refugee community. By providing the tools and training needed to succeed in business, SPARK, with the financial support of the European Union, enables refugees to build striving businesses and provide livelihood opportunities to the refugee community.
Related news
-
Report
2023 Annual Report
-
Event
IGNITE Istanbul Conference Addresses Building Economic Resilience for Youth in Türkiye and Jordan
Istanbul, Friday 17 May. The IGNITE Istanbul conference took place on Thursday 16th May in Istanbul, organized by SPARK, in…
-
News
One year on, rebuilding Türkiye’s earthquake-affected economy
On the anniversary of the devastating earthquakes that struck Türkiye in February 2023, SPARK’s support continues to boost economic recovery.
-
News
Urgent earthquake recovery needed in Türkiye
One year later, the challenges persist, underscoring the ongoing need for support. Collaborating with partners and donors, we remain dedicated to…
-
News
Creating employment opportunities for Syrian refugees in Türkiye
-
News
Earthquake-Affected SMEs join DAHIL Closing & B2B Event
The DAHIL B2B Networking & Closing Event, a collaborative effort between the European Union and SPARK, unfolded on November 16,…
-
News
€375,000 in grant support SMEs affected by earthquakes in Türkiye
-
News
NAMA Competition’s Fourth Edition: Supporting Innovation and Recognising Entrepreneurship in Türkiye
NAMA competition is back for its fourth edition, continuing its support for Syrian refugee entrepreneurs in Türkiye. Twenty Startups had…
-
Report
2022 Annual Report
The Annual Report provides comprehensive information on SPARK’s activities throughout the preceding year. Published with the approval of the Supervisory…
-
Enhancing Trauma Awareness and Psychosocial Support in Türkiye’s Earthquake Zone
-
21 new youth-led startups launch in earthquake-affected region
-
Training Türkiye’s academic staff in Human Rights and Refugee Law
-
Uniting Turkish and Syrian Youth at Çanakkale Martyrs’ Memorial