As 2023 draws to an end, I would like to take the opportunity to thank you to those that have supported Thrive and in particular, to acknowledge our refugee business owners for doing such an incredible job in building their businesses and lives in Australia. This year has been a challenging year with conflicts in different parts of the world, reminding us of the extreme circumstances that lead to people fleeing their homeland. Indeed, I write this message from the UN Global Refugee Forum where Member States are meeting to make their pledges on their refugee programs going forward. Improving participation in the economy through employment and entrepreneurship is an increasing focus. To quote the United Nations: ‘Economic self-reliance is one of the most important factors in successful integration. As well as providing the means for economic stability, it has a powerful influence on the capacity to participate equally in the receiving society and develop of friendships and social support networks.’ To that end, I am pleased to let you know that Thrive has now provided over $10m in financing and business planning support to over 600 refugees to establish their businesses. We estimate these businesses to be earning approximately $50m in revenue and generating over $5m in taxes for Australia this year. Beyond generating revenues and paying taxes, many of these businesses are providing a valuable service in areas where there is a shortage of labour, such as in aged care, construction and distribution. With more and more success stories each year, the awareness of small business and self employment as an attractive pathway to building a financial future has increased. Introductions from existing clients whom we have assisted remain our most significant referral. Our plans in 2024 will be to add another 200 small businesses to this list. Last week, one of our clients, Atefeh Hekmat celebrated the opening of her art cafe in Sydney. Atefeh, a refugee from Iran, first approached Thrive in 2019 with an idea to start an art school and cafe. An established artist herself, we encouraged Atefeh to phase her plan in two stages - start the art school and if that goes well, then the café can follow with lower financial and operating risks. Well, four years on, stage two of ATI ART & CAFE is now complete. We are proud to be a part of Atefeh’s journey, Thrive’s support and finance has helped transform Atefeh’s vision of teaching art to hundreds of Australians into reality…but as importantly, helped her to belong in Australia through participation and contribution. On this celebratory note, I wish you and your family a happy and healthy festive season and an even better 2024. Regards, Huy Truong Co-Founder and Executive Chairman
Commend your leadership Huy. What Thrive has done - leading transformative change since its establishment has been amazing. Congratulations to Team Thrive and look forward to working together.
Thrive allowed supporters me to follow my dreams And give me courage to act what in my mind
Great work Huy and all of those you support
Congratulations Huy what an amazing job Thrive is accomplishing - wishing everyone a happy festive season
Congratulations Hugh on everything you and your colleagues at Thrive have achieved. It's been an amazing contribution to us all and look forward to seeing it continue to grow and prosper.
Great initiative. All the best for 2024 and beyond
Merry Christmas to you and your family Huy ! 🎄 🎉
What fantastic achievements. Congrats on the year!
President, Asia Pacific OFX Group
8moWell done to you and the Thrive team Huy for such a successful year. Thrive’s purpose in facilitating economic participation among refugees is so important in the current environment.