There is nothing like a continuous stream of world crises to put things into perspective, not just on an individual level but also on a global scale. As time goes on, conscious consumerism continues to grow. There are so many calls for accountability towards the world’s 2 percent.
There are no two ways about it. To whom much is given, much is required, and being in a position of privilege comes with specific obligations. If you are the owner of a mid-sized company, there are plenty of ways to serve low-income communities. Here are some ways to extend help to the underserved.
Boost your company’s CSR
Your company’s corporate social responsibility (CSR) department can be the main channel upon which you can do some good for your community. Here are the four categories of responsibilities where CSR is concerned:
If you have not yet identified which area you want your business’s CSR to focus on, now is the time to research and figure out your local community’s biggest needs. Chances are, you are surrounded by low-income families. There will always be economic inequality regardless of what neighborhood your company operates in. Boosting your company’s CSR is not only the right thing to do for the people who need help. It will also help build your brand’s credibility and reputation, regardless of the type of business you run, whether a publicly traded company or private equity.
When working hand in hand with private equity marketing experts, effective CSR campaigns can help your business extend a helping hand to the impoverished members of your local community. You can be more organized in your efforts, and you can get the word out about your campaign.
Provide economic opportunities for women
The principle of “women holding up half the sky” is the belief that women are an invaluable resource that needs to be deployed to help boost our economy. Unfortunately, they are also often the most deprived of opportunities due to several reasons.
When thinking of ways to lift low-income neighborhoods, how about focusing on the most vulnerable women? They can be single mothers or survivors of domestic abuse. Your company can help by providing market-based and practical solutions to poverty. This can be done by providing them with microfinance and social enterprises to help them get a fresh start in life.
Address their urgent needs, like clean water and sanitation
It’s hard to encourage underserved people to start a small business or find a job if they are hungry or have no access to basic needs like clean water and a safe living environment. Unsafe sanitation and a lack of clean water can lead to a lot of public health issues.
The members of the community might be forced to look for water from unsafe sources. These practices might cause them to contract diseases like cholera, hepatitis, diarrhea, and parasitic infections. And if people are unhealthy, they can’t be productive at work or find a job if they’re unemployed.
One way your business can help these communities is by providing them with access to municipal water supplies. You can also build clean and safe private toilets for them. Adequate water supply is one of the first things that needs to be provided to these communities. It is essential not just to people’s health but also for the maintenance of various health facilities that will follow.
Give their children access to education
If there has been an educational gap between privileged children and underserved children in 2019, the COVID-19 crisis widened that gap even further. According to a study by Human Rights Watch, about 90 percent of the globe’s school-aged kids have had their schooling disrupted in some way due to the pandemic.
You don’t need to look far to find students who need help. You can take a look at the low-income neighborhood near your place of operations. Ask if there are students there who need funding or some form of scholarship. Chances are, there are students in these communities who need gadgets like laptops and tablets for school or funds for their day-to-day allowance.
The key to providing lasting help is to do thorough research on your community‘s most pressing needs. These days, it’s not enough to run a business with the sole purpose of creating profit. Whatever you receive, a portion should be given back to the community as well. Let it be said that your company never turned a blind eye to the most vulnerable when COVID-19 ravaged the world.