How small business can benefit from 'village banking' | Ruchi Shah | TED Institute

Small businesses in the US are failing at an alarming rate. Nearly half close their doors by year 5, and 70% fail by year 10. The main reason? They run out of money. Compare that to small businesses in Ecuador and Guatemala that have a nearly 100% loan repayment rate with 85% of borrowers going on to expand their business. What’s the secret to their success? Business strategist Ruchi Shah shares a community-based solution that every small business can learn from.

About the TED Institute: We know that innovative ideas and fresh approaches to challenging problems can be discovered inside visionary companies around the world. The TED Institute helps surface and share these insights. Every year, TED works with a group of select companies and foundations to identify internal ideators, inventors, connectors, and creators. Drawing on the same rigorous regimen that has prepared speakers for the TED main stage, TED Institute works closely with each partner, overseeing curation and providing intensive one-on-one talk development to sharpen and fine tune ideas.


Follow TED Institute on Twitter @TEDPartners