‘Charity begins at home’, the right mantra for companies

Economy Bureau
Posted: Tuesday, Jul 29, 2008 at 0135 hrs IST
Updated: Tuesday, Jul 29, 2008 at 0135 hrs IST

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New Delhi, Jul 28: to overcome obstacles while doing business with the poor. These include adapting products and services to the needs of the poor; investing in infrastructure or training to remove market constraints; leveraging the strengths of the poor; working with similarly minded businesses and non profit organisations; and engaging in policy dialogues. However the report notes that it often difficult for businesses to capture such opportunities, “due to widespread market constraints.” Lack of information and awareness — both on the part of businesses and consumers—is one of the greatest challenges to this, the report said. While companies know very little about this market segment, the consumers may not know enough about the use and benefit of products that the former are selling. Businesses may also find it difficult to tap the market due to the lack of credit, insurance and transactional banking services....

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