Nearly 10% of the world's population live in extreme poverty
- existing on less than $1.90 a day
Extreme poverty is classed as those living on less than $1.90 per day. In 2017, that was nearly 10% of the global population - or 689 million people, according to The World Bank. 1 in 4 were living on less than $3.20 a day.
Covid has exacerbated the suffering. The World Bank estimated in early 2021 that the pandemic would push over 100 million people into extreme poverty. Updated data will no doubt show a worsening picture.
Research has shown that small businesses can be a powerful tool to fight poverty. The problem among the poor is always start-up cash.
The Road to Parity provides micro grants to specifically address this problem, creating tiny enterprises. This brings a stable income to a household, financial independence and a deep sense of pride. Families can eat properly, live more hygienically and kids can go to school, giving them opportunities they would otherwise be denied.
The people we help are the poorest of the poor - normally born into poverty, trapped by poverty and illiterate.
The Road to Parity gives the most desperate people hope that their lives can be better - that they can be lifted out of extreme poverty.
Helping the less fortunate makes the world a fairer place.
Through our contacts, we identify individuals or entities that can be our partner in the local communities. This may include teachers, doctors or NGOs.
Through these channels, we discuss local needs and possible entrepreneurial initiatives.
We also encourage members of the local community to come forward with their own business ideas to help nurture entrepreneurship.
Along with our local partners, we determine which individuals can be supported to fulfil their dreams and become financially independent.
It might be securing a plot of land to farm some crops, buying a sewing machine to start a tailoring business or setting up a street stall selling snacks, vegetables or fruit.
Guidance is on hand to nurture the fledgling enterprises to maximise the chances of success.
The Road to Parity does not operate like a bank and expect a return on investment. We believe the poor have suffered enough.
However, checks will be carried out to ensure the funds are being used for the purpose intended. This is vital for our own governance and to instil confidence in donors.
We are also sharing stories of how lives have been changed, opportunities have been created and hope has replaced despair.
The Road to Parity is registered with the Charity Commission for England and Wales (No. 1187425)