The International Organisation of Employers (IOE) is requesting expressions of interest from independent consultants to support IOE’s research on the practicality and benefits of financial inclusion for informal workers and employers.

About us

IOE is the largest private sector network in the world, representing 50 million businesses through 150 national employers’ organisations. IOE is the sole representative of business in social and employment policy debates taking place at the International Labour Organization (ILO), the United Nations, G20 and other global forums. IOE is recognised for its unique expertise, advocacy, and influence as a powerful and balanced voice for business at the international level. IOE consolidates the perspectives and priorities of national employers’ and business organisations in one single, effective, and coherent voice. Our vision is to create a sustainable economic environment worldwide, promoting free enterprise that is fair and beneficial to both business and society.

Background on topic

Informal workers and employers constitute a significant portion of the economy, particularly in developing and emerging markets, yet they often lack access to formal financial systems. These workers face challenges such as unpredictable incomes, limited social protections, and exclusion from financial services, while governments grapple with reduced tax revenue, employers endure unfair competition, and insufficient financial documentation limits credit access and complicates policymaking. The simplification of tax regimes, microinsurance products, microfinance loans, and accessibility to low-income deposit schemes offer promising solutions to address these challenges, fostering greater financial inclusion and economic stability for these underserved groups.

To this end, IOE is developing a comprehensive feasibility study to evaluate the practicality and potential benefits of streamlining tax systems, introducing microinsurance, providing accessible microfinance loans, and enabling low-income deposit schemes designed specifically for the informal sector. This research aims to contribute to the broader agenda of inclusive economic development by identifying tailored solutions to address the unique challenges of informal workers and employers, ultimately leading to their transition to the formal economy.

Scope of work

• Conduct a comprehensive review of existing tax regimes, microinsurance, microfinance loans, and low-income deposit schemes in comparable contexts that have positively or negatively impacted transitions from informality to formality.
• Identify regulatory, operational, and market barriers to implementing simplified financial solutions for the informal sector.
• Develop a set of recommendations for designing and operationalising simplified tax systems and financial tools tailored to informal workers and employers.
• Ensure the document does not exceed 10 pages in length.
• Use of British English spelling.

• Timeline: to be delivered by 15 April 2025.
• Location: Home based/Remote

Competencies:

• Proven understanding of the informal sector, including the socio-economic profiles of workers and employers, and its impact on broader economic systems.
• Strong knowledge of financial inclusion strategies.
• Ability to assess regulatory frameworks and propose actionable, context-specific policy recommendations for governments and stakeholders.
• Demonstrated capacity to conduct feasibility studies, including data collection, qualitative and quantitative analysis, stakeholder consultations, policy analysis, as well as critical thinking.
• Exceptional English writing, and proficiency in using Microsoft Word.
• Ability to simplify and communicate complex information clearly and concisely.

• Estimate of total hours of work: 30-40 hours
• Funding: the total funding available is 5000 EUR

Required:

Candidate must be registered as an independent consultant in their country of residence or apply through a registered organisation/company to be considered for this consultancy.

 Please send your CV and your proposal to: projectprocurement@ioe-emp.com with the email subject line: Feasibility Study – Financial Inclusion 2025. Deadline 30 January 2025.