Business strategies to attract poor people

A new UNDP report, made public on July 10, displays strategies to extend traditional business practices and involve poor people as partners to insure well-being, Info-Prim Neo reports. According to one of its authors Christina Gradl, the report highlights the enhancement of inclusive markets. Although the poor people have potential to consume, produce, innovate or be entrepreneurs, it cannot be capitalized, she says. The private sector cannot know the needs of the poor people. The reports says what companies, authorities, communities, NGOs or donors can do to insure the well-being. The report titled “Values for all: Business strategies to involve poor people” contains strategies successfully carried out by private companies to overcome the most frequent obstacles in businesses by involving the poor. According to UNDP-Moldova representative, Aliona Niculita, poverty can be solved through sustainable economic growth, as the private sector should contribute to by creating jobs, by offering vital goods and services to citizens. According to Ocatavian Calmac, an official with the Economy Ministry, the poverty issue is sharp in Moldova. Every third person is beneath the absolute poverty threshold and 4 % live in extreme poverty. The UNDP launched the Global Impact initiative in Moldova in 2006 and managed to create partnerships in terms of social responsibility. Now this network joins 38 trans-national companies and local ones.