An #eatmywords event that provides practical advice on how we can do our part to eliminate global poverty
On Friday, February 2, 2018, NOSHtrekker will be speaking to Laina Raveendran Greene, co-founder of Angels of Impact, a network for women social entrepreneurs focused on alleviating poverty, and co-author of Sustainable Impact: How Women Are Key to Ending Poverty (Partridge Publishing). In anticipation of this week’s event, we learn more about what poverty looks like, and what Angels of Impact are doing to help women improve their economic status.
What is the “Bottom of the Pyramid Penalty” and what is its effect on the poor?
Life is actually more expensive for the very poor than it is for people with a bit more money. This is called the “Bottom of the Pyramid Penalty” (BOP Penalty). Life for the very poor is very costly, not just because things are more expensive as a proportion of income, but they literally do cost more for the poor than for others. The BOP refers to four-billion-plus people living on less than US$1500 per year, with more than half of them being women.
Why focus on women?
Women are poverty’s greatest victims through a phenomenon called feminisation of poverty. Women receive less education, are less likely to be paid for their work, more likely to be ill, and more likely to die earlier. However, we encourage people to invest in women for they make great investments. When women have access to money, they are much more likely to channel it to their families’ health and well-being – creating a virtuous cycle that multiplies through generations.
Why has Angels of Impact chosen to support social enterprise as a way to help these women?
Serve, not save the poor. The social enterprise model holds great promise in better addressing poverty. Social enterprises offer a new approach to business and an alternative to charity. Angels of Impact was created to support women-led social enterprises helping to alleviate poverty, hand in hand with men. By creating an ecosystem, in which resources can flow to where they are needed most, we can ensure the sustainability and success of these social enterprises that we support in Southeast Asia.
How can we help in our own small way?
Be part of the movement of Conscious Investors and Conscious Consumers.
- Channel money into support for social enterprises (individuals and corporates)
- Promote and sell goods on behalf of social enterprises, to engender conscious consumers (individuals, corporates, retail)
- Volunteer with organisations like Angels of Impact