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Working with Whole Planet Foundation

As you may have already seen, this month Nom has a window display in the Richmond Whole Foods Market. Yes, it’s a great opportunity for us to show you that our fantastic popcorn has gone into WFM stores, but it actually means a whole lot more than that. Through purchasing this window display, we are supporting the Whole Plant Foundation which has a mission to alleviate poverty around the globe – all of the proceeds from this marketing activity go directly to the charity to help finance microfunding around the globe.

Whole Foods Alleviating Poverty

What is microfunding?

Microfunding is one of the most powerful and sustainable ways of alleviating poverty. In essence, it is a source of finance for small businesses and entrepreneurs who don’t normally have access to banking type services either because they are too poor, or are geographically unable to. Whole Planet Foundation gives these entrepreneurs a small loan with which they can start their business. If successful – and it seems that most are – then this money is then paid back, with a small amount of interest, and the business can apply again for another slightly larger loan further down the line if they so wish.

“The average first loan size in the developing world is $184, and each microloan helps an average of five people as micro entrepreneurs invest in their families” – Whole Planet Foundation.

Why is microfunding such a good idea?

Rather than being a ticket out of poverty as such, it’s a way of helping people get themselves, their family’s and possibly even their communities, out of poverty through investing in themselves and their potential to change their life. Giving these people the power to do that for themselves is a much more sustainable way of alleviating poverty. If you simply give people money, they will spend it on things they require at that time, but will then need more money to support them going into the future. However, if you empower people to make money for themselves, not only will they be able to make their own money well into the future, they will gain skills that they previously may not have had which will help them even further.

Who is Whole Planet Foundation supporting?

Currently, Whole Planet Foundation supports 1,310,827 micro entrepreneurs across 70 different countries ranging from Haiti, Cambodia, New York to Mongolia. Just some of the businesses they’re supported include beauty salons, street vendors, caterers, fruit store owners and clothes makers.

Some of the stores behind these amazing people can be found here. 

Why does it mean so much to Nom?

As you may have gathered from previous blog posts, here at Nom we’re really passionate about ethical practices. We use fair trade ingredients wherever possible, are always organic and are an accredited ethical company.  We’re really proud to be working with Whole Planet Foundation in this way and supporting other business entrepreneurs.

As we say –

“Little by little, a little becomes a lot”

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Click here to find out more about Whole Planet Foundation’s good work.

 

Whole Planet Foundation

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