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Business Development, an Important Driver for Poverty Reduction

Updated: Sep 4, 2022

Story by: Kent Bubbs Jr, Executive Director, Universal Outreach

In today's globalized world, the backbone of national and international economies is business. A country's ability to perform on the global stage as an importer/exporter is all based on industry development and a country's business environment. As we look at ways to alleviate poverty it would then only be natural to look at the development of private enterprise businesses that have the potential to grow, employ and provide people with economic stability.

Imagine a farmer who makes an average of $450 to $600 per year. They take our beekeeping program, establish some hives and their income doubles. What would your life look like if you could double your income over the next two years? Significantly different.

Another example would be increasing your income by 60% within four months, thanks to our community-based coconut oil production system this is possible. Instead of selling dried coconuts, coconut growers can add value by pressing them into oil and Liberia Pure, a social enterprise mentored by Universal Outreach is ready and waiting to buy their product.

You’ve seen for yourself the difference our economic development programs have made in Liberia. We’re inspired by your support and the financial stability it’s creating. After a year of piloting the concept of business development, we’ve officially launched the Strive Business Development Program. This program helps entrepreneurs start, accelerate, and grow their businesses. It also provides small loans to businesses needing start-up and growth capital.

The result? An increase in the demand for local inputs that ultimately develop added income sources for producers, employees, owners and the country. This is sustainable development work, and we can’t thank you enough for investing in it with us.

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