Want to make some extra cash while giving a boost to markets in the developing world? Shared Interest lends capital to fair trade buyer and producer organizations in areas of the world that have limited access to finance. Because they only invest in Fair Trade businesses, that means living wages, better working conditions, and often benefits for workers like health care and education for their children. For many of us in the West, starting a business without the help of a bank would be impossible. Those in the developing world face this challenge and more when beginning a new venture. Yet developing economies will never improve without the expansion of the free market; this can only happen through improving the environment in which business can operate and gain access to capital. This makes the work of companies like Shared Interest all the more crucial. Microfinance this is not; Shared Interest[…]Read More
Post Tagged with: "economy"
Africa will never develop without the expansion of the free market. Through small and medium sized loans and business mentoring, Accion gives people in Sub-Saharan Africa and other developing areas of the world the financial tools they need to improve their lives through development of their businesses, thus expanding the free market one entrepreneur at a time. I recently spent a week in Tanzania with some of those who benefit from Accion’s loan programs. The size of their enterprises varied greatly, from the young mother selling fruit in the market to the middle-aged man and his chicken-feed factory that employs dozens. All have benefited from services that are still scarce across the developing world: access to finance and capital to start a business. Tanzania’s GDP is growing by 6.5% annually and almost no markets are saturated. My assignment here coincided with the state visit of President Obama, whose remarks here[…]Read More