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How to fight against extreme poverty with entrepreneurship?



Kirjoittanut: Omar Puebla Roldan - tiimistä FLIP Solutions.

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How to fight against extreme poverty with entrepreneurship?

The World Bank highlights five trends. 

  1. The first trend is the decline in poverty brought on by economic expansion and initiatives to fight poverty. 
  2. The second trend is a growth in social spending, which helps to fight poverty by funding things like education and healthcare. 
  3. The third trend is the improvement of the business climate, which draws capital and generates employment. As the poorest members of society gain more from economic progress, 
  4. The fourth trend is a reduction in inequality. 
  5. The last one combat poverty and advance sustainable development, the government and civil society must collaborate to enhance institutions.

This article rises many questions! for me as a new entrepreneur. Are entrepreneurs abrogated to help developing countries? What is our role to fight extreme poverty? Should entrepreneurs fight poverty? Should we care about small producers on the other side of the world? Does entrepreneurship support social and economic inclusion? Do we care about poverty? 

I believe we do, I believe as entrepreneurs we play a critical role to reduce the poverty by creating job opportunities, generating income, and promoting economic growth. 

How? Business ideas, and innovations, bring investment to the projects, create job opportunities, hire employees, provide people with a source of income, pay for health care, development in education. 

Does this sound like a charity? 

This may sound like a charity cause the focus is on using entrepreneurship as a tool for promoting social good and improving people’s lives by reducing poverty. 

However, it is not necessarily a charity in the classic sense, as it emphasizes the need of developing long-term, sustainable, and economically feasible solutions that benefit individuals and communities. Instead, it highlights the necessity of creating an enabling business environment and assisting new entrepreneurs in creating jobs, generating revenue, and promoting economic growth, all of which can lead to poverty reduction.

Investment is a significant factor to economic growth and employment creation. Businesses can grow their operations, produce new products, and recruit more staff when they have access to investment cash. 

In addition, investment has the potential to boost economic growth and reduce poverty in the community. Businesses that grow and expand create new jobs and offer individuals a source of income and a way out of poverty.

Investment not only helps the producers but creates policies, regulations, tax incentives, streamlined rules, and a stable policy environment.

Businesses also require access to infrastructure such as transportation and communication networks, as well as support services such as education and training programs.

In Armo Design we believe we have the chance to use entrepreneurship to fight poverty in developing countries helping small producers, and artisans to have an international market. 

 

 

https://www.worldbank.org/en/news/feature/2015/10/15/five-tendencies-fight-against-extreme-poverty-latin-america-caribbean

 

 

 

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