How To Empower Entrepreneurs in Low-Income Countries

Being an entrepreneur isn’t just about running a business. Implicit is the notion of risk. When an entrepreneur goes to work, they take a leap of faith. The possibility of failure is constant. But they keep on because they believe the risk is worth the reward. Take entrepreneur Laila Sultana, who took part in an iDE effort in Bangladesh, linking smallholder producers to market opportunities (like local suppliers and buyers). In 2020, when COVID-19 pandemic restrictions prevented the mother of four from selling livestock to her clients face-to-face, she turned to social media to advertise her animals. To her pleasant surprise, all of her bulls quickly sold, leaving her with a sizable profit. Today, Laila hopes her community can share in that success and one day wants to own her farm.  “If anyone in Bangladesh becomes a Laila, following my story, then my happiness will touch the sky,” she told iDE.

To succeed like Laila, in a low income country, you can never stop trying. Persistence is essential. To survive, she and others like her must confront interconnected challenges tied to the cycle of poverty, including hunger, climate change, fragile food systems, and gender inequality.

Choices are few and even the smallest opportunity can be life changing. While the lure of wealth drives entrepreneurs in the industrialized world, the impulse for a better life in low income countries is equally motivating. Access to basic healthcare, a secondary education or maybe just a flushing toilet in their home, are what occupy the dreams and aspirations of those seeking to take control of their lives in the developing world. At iDE, we believe that powering entrepreneurs is key to ending poverty. People do better when they prosper on their own terms. We like to think of ourselves as a beacon, helping to guide them. And when they succeed, they benefit and inspire their peers as well as their communities. It’s about change not charity.