How Businesses Can Help Global Poverty by Making Small Changes

How Businesses Can Help Global Poverty by Making Small Changes

Everyone knows that they should do their bit to reduce global poverty but it is fair to say that businesses can do more to help out than the odd individual, due to their sheer size and potential reach. There is a need for companies to show that they are no longer taking the developing nations for granted or even worse, exploiting them for their own benefit. There have been many horror stories of major multi-national companies using questionable tactics and working practises in these areas but thankfully, these are reducing in number, even if some firms are still undertaking questionable work.

The most important thing that many firms can do is to pay a higher wage to their workers in developing nations. Clearly firms use these workers because there are lower average costs of living in these countries but even allowing for that, some firms knowingly pay vastly less than the acceptable and fair wage that people can survive on. Paying a low wage forces people to work longer hours and live in unsanitary and cramped living conditions, which creates health problems and is uncomfortable to live in. Paying a higher wage would go some way to alleviating some of the pressures being forced upon people in these countries and perhaps help to reduce the levels of poverty in these regions.

There is a major thing that businesses can do to help reduce the levels of global poverty and it won't even cost them too much. When firms stop using old equipment, they should donate it to emerging countries, who would be glad of any working equipment, no matter how old. There are parallels that can be drawn to the rise in the Japanese economy after the Second World War. There were a number of factors involved in the rise of the Japanese economy but an influx of production machines and materials helped to move the industrialisation process of the country at a far faster rate.

Not only could Japanese companies work quicker and more efficiently, they learned the mechanics of the machines and were very quickly producing their own machines which were of higher quality than the ones being used in the Western World. Supplying old machinery that was not being used anymore was no great issue to Western countries but it had a hugely positive impact on the Japanese economy and their skills in manufacturing machines. It would not cost a lot for firms to give away their old machinery when they are upgrading to new machines and it would provide a great benefit to many companies and workers in poverty stricken areas.

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