COVID-19 Brings Enterprise &Entrepreneurship to the Center-Stage
The economic impact of COVID-19 could increase global poverty for the first time in three decades, pushing more than half a billion people – or 8 percent of humanity – into poverty, according to a research by the United Nations University World Institute for Development Economics Research (UNU-WIDER). It estimates the impact on global poverty levels based on three scenarios of low (5 percent), medium (10 percent) and high (20 percent) short-term declines in per ca pita income (or consumption, depending on available country data). In the worst scenario of a 20 percent economic decline, 419 million more people would be living in extreme poverty on less than $1.90 a day. But that number would increase to 500 or 600 million people if using the lower middle-income country poverty line of $3.20 per day or the upper middle-income poverty line of $5.50 per day.
But, history teaches us that the humanity will outlive such a crisis. Because human creativity and enterprise have no limits. It will lead to a new economics of enterprise, and a new model of Local Economic Development. Read through and see how it will happen………
(India Micro, Small and Medium Enterprise Report 2019,by ISED Small Enterprise Observatory/Institute of Small Enterprises and Development, Cochin, Pp. 215,ISBN:978-93-80830-89-6,Price: INR.1699.00; US $.100.00)