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A majority of the world population is poor. We always paise the philanthropic endeavors of the top billionaires through nongovernmental organizations (NGOs). Ironically, many of these NGOs are for profit. Many of their NGOs earned billions of dollars during the so-called enforced pandemic.
Of course, a few smaller and rather not-so-famous NGOs have been contributing positively to the development of the poor strata of the global population. They do not get promotions from the mainstream news media. But, these NGOs are making a huge impact by creating entrepreneurship for and by the poor people.
The entrepreneurial training and developments of these NGOs lighted a new hope in the lives of poor people. In this article, I wish to highlight the impact of entrepreneurship on poverty alleviation.
In the third world nations of Asia, Africa, and South America, the citizens do not have adequate facilities for education and health. A large percentage of the youth are jobless. Employment opportunities are shrinking every year.
The RCT model Banerjee et al were field trialed among the poorest population of Asia and Africa. Their economic developmental works involved encouraging and helping the poor people to start earning by entrepreneurship.
Banerjee et al. had identified the poorest of the poor in the Asian and African villages and taught them the tricks "how to start their own business," i.e., entrepreneurship.
They had directly helped the poor people build the much-required confidence by literally sitting with them, actively advising them
to save a tiny amount of money from their everyday expenditure,
getting assistance through the micro-financing bodies of different banks,
I belong to the fields of Science, Technology, Engineering, and Mathematics (STEM). I have added "Arts" and "Fine Art" to my interests. So, my interests become STEAM - Science, Technology, Engineering, Arts, and Mathematics.
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Disclaimer: All texts are mine and original. Any similarity and resemblance to any other content are purely accidental. The article is not advice for life, career, business, or investment. Do your research before adopting any options.
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