The prosperity of a country depends on how many people are employed and self sufficient. Karachi, being the commercial hub of the country and a throbbing metropolis, is a magnet for people who wish to better their lives and pursue careers and business opportunities.
However, when the population, especially young, energetic people, are left unemployed there is an alarming hike in dissatisfaction, crime rates, violent extremism and consequently political unrest. The Ihsaas Trust appeared on Pakistan’s horizon in 2012 with the lofty intention of stimulating entrepreneurship, experimenting with new enterprise facilitation models that can pave the way for effective capital deployment and technical capacity building.
It is not large industries but small businesses and modest start ups that run a majority of households across Pakistan helping countless families exit the quicksand of poverty. Microbusinesses also create jobs that foster skill development, employ local residents and impart valuable skills and job stability, ultimately helping in boosting the country’s economy.
Here are three ways why microbusinesses are vital for a pulsating city like Karachi.
They provide products and services tailored to locals:
Ihsaas believes in supporting microbusinesses because they come up with ideas, products or services that they feel a lack of in their immediate society. They truly and passionately believe that these business ideas would help make life easier for the locals along with giving them a commercial gain. However, if not backed financially these wonderful enterprises would never see the light of day.
They occupy vacant storefronts:
Not every store can showcase a brand or a super mart because that’s not here the common man shops every day. Communities need those modest, yet, well-stocked grocery stores that are the hub of a street, or a tailoring shop that is accessible to you. Ihsaas believes that if we stopped supporting small time businesses then so many store fronts would be vacant. What a dismal place the city would be.
They stimulate an inflow of community resources:
A community needs to believe it is self sufficient. Ihsaas truly believes it is. There will be a woman who wants to start a catering business and support her family or another who wishes to set up a beauty saloon and follow her passion. Within a community there is a man who can repair machines deftly and another who is a plumbing genius. If we stopped helping them in their entrepreneur ventures then to whom would the community turn to? One successful microfinance story motivates another to dream big.
Ihsaas has seen the positive things that have happened when we have helped microfinance small businesses which have been a beaconlight for innumerable promising entrepreneurs. This has strengthened our conviction that microbusinesses are important contributors to national economic vitality.
Ihsaas brings together interest-free micro loans, proven micro business models, end-to-end micro-business advisory services and trainings to develop and sustain the micro-entrepreneur’s journey. Support Ihsaas in this dynamic, life-changing journey and donate to the Ihsaas Trust.
