23 February 2009

Real Slumdogs ~ Hand in Hand Starting Ventures

Interesting Op-Ed piece in the BBC by Percy Barnevik about The real Slumdogs of India where he describes his personal and professional commitment as Chairman of Indian charity Hand in Hand...
"So far Hand in Hand has enrolled 387,000 extremely poor women. They are trained in finance and enterprise creation, and supported with micro-loans. They have started 215,000 enterprises in production, trade and services, and currently establish around 400 new enterprises per day. The reality is that when the women start businesses, they get empowered at all levels. They eat more, earn more, read better, become more active in local government. The fight against global poverty can also be greatly inspired by Indian methods. We have seen that, with tight cost control, it is possible to create a job for some $50. This means taking a woman living on less than $2 (£1.40) per day, and within one to two years turning her into a self-sustaining entrepreneur, with a business generated income supporting an average of five or six people. This cost is a one-off. It is a fishing rod rather than a fish. With the reallocation of some 5 to 6% of the world's aid budgets, and using a self-help model, we could see a massive improvement in the living standards of the world's poor in the next 10 to 20 years. These self-help models, now growing among the entrepreneurial ultra-poor Indians, show that India could lead the way in the fight against poverty."
Be sure to check out the Hand in Hand promo on the 'Tube...

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