GEAR - An Example of Social Entrepreneurship
by Syed Abdul Basit - SAB, Public Speaker, Technopreneur, and Telecom Professional at Nokia Corporation on Nov 30, 2012
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GEAR was formed in 2010 with the core purpose of helping the deprived section of the society to stand on its own feet through self-employment. The very first activity of GEAR was to provide sewing ...
GEAR was formed in 2010 with the core purpose of helping the deprived section of the society to stand on its own feet through self-employment. The very first activity of GEAR was to provide sewing machines to four women in Korangi area in Karachi, Pakistan on interest-free lending. This initiative helped these four women to start their independent tailoring businesses earning about four to five thousand rupees a month.
Each one of these women paid back an amount of Rs. 1000 every month to GEAR, expanding its funds pool, which was used to support new partners. The journey went on and stands at this moment with addition of men and women, girls and boys supporting this noble cause of social business for uplifting individuals and society as a whole.
GEAR funds and provides business model development support to its partners without charging anything for financial and allied services. It is an organization in ‘social business’ based on funds from those who can afford to those who are in need—with the objective of empowering the later to becoming self-reliant in financial terms and then contributing to the revolving fund of GEAR.
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