The systemic issues we are working to solve demand multiple interventions. In the case of poverty eradication, efforts are being made today by governments, nonprofits and the private sector. All these approaches are necessary as the magnitude of the challenge we face is great.
While some approaches seek to mitigate the impact of or ameliorate the lives of those living in poverty, CARE Enterprises is looking to identify business models that empower people to break out of the poverty cycle over one generation.
These type of for-benefit business models, such as connecting artisans to a global market with price controls to ensure stable and fair income, or enabling rural farmers to leverage their unused land with innovative tree growing practices, can provide the additional income to allow for investment in education, healthcare, and other basic needs that move families from poverty conditions to middle class in one generation.
While we know a ‘transformative intervention’ will vary from place to place, CARE Enterprises is looking to identify and help scale business that can deliver on similar outcomes as the ones just described. We will work with CARE’s teams locally to understand what the breaking-point is for the poverty cycle in each geography and invest in business that deliver on that target.