Mastercard Strive in Czechia

Overview

The Mastercard Strive in Czechia program, funded by the Mastercard Impact Fund with support from the Mastercard Center for Inclusive Growth and implemented by CARE Czech Republic, is designed to provide micro and small businesses with the support they need to achieve sustainable growth and financial resilience, bolstering the resilience and growth of Czech micro and small businesses through digitalization, peer mentoring, and financial services.

Working with a network of local partners, including financial service providers, we leverage existing small business support services and financial products and services, specifically tailored to small businesses, with a particular focus on women. By demystifying digital tools, we create demand for digital business growth.

This approach fills gaps in how small businesses work and improves their financial strength and growth, while building an entrepreneurial support ecosystem. Through the program, we work with those in the ecosystem to influence and improve policies impacting micro and small enterprises.

Interested in partnering with Mastercard Strive in Czechia? Contact us at strive@care.cz

 

 

 

Who are we targeting?

The program targets all micro- and small businesses in the country (MSEs, micro entrepreneurs with 1 – 9 employees as primary target + self-employees and small entrepreneurs with 10 – 49 employees as second target) and helps them succeed, with a specific focus on women-led or -owned business and displaced Ukrainian entrepreneurs.

Female entrepreneurs are widely under-represented in business ownership in Czechia (the ratio to men is 1 from 3) and have needs that are neither fully discussed or covered within the current environment and require specific actions that help women thrive.

In response to the current crisis in Ukraine, the program also provides dedicated support to micro- and small businesses run by displaced Ukrainians starting or restarting their businesses in Czechia and supports their economic independence and stability.

The opportunity

Small businesses are the most powerful drivers of economic activity across the European Union. Owning a successful business can change the trajectory of entrepreneurs’ lives, the lives of their families, and the lives of everyone who works for them.

In the Czech Republic, MSEs make up approximately 99% of all active businesses, serving as the backbone of the Czech economy. Despite this, more attention and support is focused on large and medium-sized enterprises, creating additional barriers for micro and small businesses.

Mastercard Strive in Czechia aims to change this by strengthening the entrepreneurial ecosystem by developing support systems tailored for micro and small businesses and offering recommendations and guidance to improve the policies that affect them.

Core activities

  1. Providing access to critical support services leading to business digitalization and growth
  2. Providing access to financial products and services for underbanked entrepreneurs (particularly women-led MSEs)
  3. Strengthening the Czech entrepreneurial support system
  4. Promoting inclusive strategies for women-led small businesses

Mastercard Strive in Czechia is part of Mastercard Strive, a portfolio of philanthropic programs supported by the Mastercard Center for Inclusive Growth and funded by the Mastercard Impact Fund. With programs in more than 20 countries around the world, Mastercard Strive aims to reach 18 million small businesses to go digital, get capital, and access networks and know-how.