Wednesday, October 12, 2022
Take our survey to help us better understand the motivations of businesses to address the care economy and how entrepreneurs innovating in this area could support your business.
- Are you an FMCG company, concerned about the double shift of women in your supply chain – in the factory then at home. What does this do to their health and your business productivity?
- Are you an agriculture and food business dependent on smallholder women in your supply chain and wondering why women don’t have time to adopt climate-smart farming techniques, or why your economic empowerment programs are at a standstill?
- Does your company want to recruit and retain the best staff, but can’t because you don’t currently offer flexible work options for people to care for children, elderly or family members? disabled family?
- Are you eager to reach new audiences and break down outdated advertisements and stereotypes? Do you prefer to feature men who love and undertake laundry and childcare, and not just women?
If any of these questions resonate with you, wherever you are in the company, whether it’s human resources, sustainability, marketing or strategic planning. so please take our survey and read on……..
The entire global economic system is built on caregiving – the millions of unrecognized and undervalued hours spent making sure offices are cleaned, children and the elderly are cared for, and food is prepared for families and workers.
The demand for care is expected to rise with falling birth rates and an aging population, making it a key part of the future of work.
Turning this challenge into an opportunity should be at the forefront of our concerns. As one study has shown, if investments in the care economy matched those in the construction sector in emerging economies, it would create more than 27 million new jobs (Women’s Budget Group, 2017). And Oxfam has calculated that the 12.5 billion hours of care work done for free by women and girls every day is worth at least $10.8 trillion in value to the economy each year (Oxfam, 2020).
Everyone has a role to play – including governments and the private sector, and more and more donors like the Gates Foundation and the IFIs, including the IFC, are focusing much of their attention on the economy. care.
That’s why Business Fights Poverty is thrilled to be part of a program initiated by IDRCand partners to connect entrepreneurs and SMEs in the care economy in Asia, Latin America and Africa, with investors and impact businesses.
Our partners are busy identifying these entrepreneurs and will be profiling them shortly. In the meantime, we need to work with our Business Fights Poverty community to understand how these entrepreneurs could help businesses. Entrepreneurs will all undertake work to reduce, reward or redistribute care work. This includes paid and unpaid work and services that support caregiving in all its forms – at home and at work.
Here are some examples of these types of businesses:
Kidogo is a social enterprise that improves access to quality and affordable early childhood education and care in low-income communities in Kenya.
Drinkwell is a technology platform for drinking water in Bangladesh. Their technology is integrated into the water infrastructure purifying millions of liters of water every month.
A Colombian technology-based facility management platform offering high-quality cleaning and maintenance services to its customers, and well-paying and sustainable employment opportunities to its collaborators.
How could companies like these support your business? Could you source their services, could you provide investment or mentorship, could you partner with SMEs, investors and governments to help take initiatives to scale? Please complete the survey and help us better understand your needs and identify opportunities for action.
This survey will provide the basis for continued work over the next year to develop a toolkit on how social entrepreneurs in the care economy can support your business and your employees. Contact us if you want to be part of this work program.