Economic Empowerment
"Building sustainable livelihoods and fostering grassroots entrepreneurship."
Economic empowerment at the grassroots is a cornerstone of IRRT’s fight against poverty. By supporting resource-constrained entrepreneurs who lack access to traditional funding sources, including banks, IRRT aims to foster self-employment and help beneficiaries create sustainable income sources.
These efforts not only improve individual resilience but also contribute to broader community development.
Mission and Core Principles
IRRT’s mission in economic empowerment is to:
- Enable Self-Employment: Provide targeted assistance to deserving small business owners and entrepreneurs who have no other source of funding.
- Promote Grassroots Entrepreneurship: Encourage the creation and growth of micro-enterprises that add value to the local economy.
- Support Marginalized Groups: Focus on uplifting women, marginalized communities, and those with limited formal education.
- Build Local Capacity: Strengthen community resilience by developing skills and fostering local business networks.
Key Areas of Intervention
aFinancial and Technical Assistance
- IRRT provides financial support and skill development opportunities to small businesses and entrepreneurs who are unable to access loans or other funding.
- This assistance helps them start or expand their ventures, acquire necessary resources, and navigate the challenges of local markets.
bSkill Development and Training
- Special programs are designed to equip beneficiaries with practical skills in product creation, basic marketing, and entrepreneurship.
- These trainings are tailored to the needs of participants, many of whom have limited formal education, ensuring that they can become self-reliant and successful in their chosen fields.
cCommunity Impact
- By supporting micro-enterprises, IRRT helps keep money circulating within local communities, adds services to the local economy, and inspires others to pursue entrepreneurship.
- The cumulative effect of these efforts is increased economic resilience and long-term community development.
Actual Examples of Activities
- Empowering Women through Skill Development: In 2022, IRRT, through ICTC, contributed to the Juneli Foundation Nepal’s program “Self-Reliance of Women through Skill Development” in Lalitpur. This initiative empowered 12 women from economically disadvantaged backgrounds with skills in product creation and marketing. Five participants excelled, successfully producing and selling goods in local shops, showcasing the immediate impact of the training.
- Community Ripple Effect: This targeted support not only improved the economic resilience of individual women but also promoted grassroots entrepreneurship. Micro-enterprises supported by IRRT add valuable services to the local economy and serve as inspiration for others to pursue self-employment.
Looking Ahead
IRRT remains committed to expanding its support for economic empowerment, focusing on enabling self-employment, fostering entrepreneurship, and building resilient communities. Through continued assistance, skill development, and community engagement, IRRT aims to help more individuals and groups achieve sustainable livelihoods and contribute to Nepal’s economic growth.