Basically I try not to advertise but some years back in made a thought to share certain money for my needy relatives and other personnel, my style so far has been to give the money and they fill in their need, however what i been thinking that under this option, some people have continous requirment and this is really a short term solution.
Been thinking about long term and try to setup some small scale business where say i can invest some intial money and than the profit of this businss can go to these people on monthly basis, please suggust ideas
considering i am overseas have relatives who can over sea and since i am alone at this time i can also put limited money, may be 100 to 200 lack or some thing around that…
The best way to help a needy person is to enable him to fulfill his needs himself in the future. You want to help people become self sufficient and not be dependent on your or other charities forever. So if someone is jobless and you have some money, you can loan it to them so that they can start a small business and pay it back slowly.
BTW, what makes you think the business will only generate profits? What if you hit some losses?
Re: Idea for best utilizaiton of cash to help needy
sure business can hit losses, in this case i have no problem becuase this is Allah Raza and i can write off the money from my end.
this is also why i am asking people for ideas so we focus on small business which hopefully have higher chances of being sucess and the person being able to return money
Re: Idea for best utilizaiton of cash to help needy
^^
One small thought though... The minute you ask them to work instead of free money, most of the needy would disappear.
So be careful about whom you want to start the business with. They would do the business until you put in the money and then when all money is exhausted blame you for the mess. Dont tell these guys that you are ready to take the losses. Tell them it is essential that the business generates profits else you are going to cut the fund supply.
Re: Idea for best utilizaiton of cash to help needy
I think some sort of a training center or school would be a good idea. Helping people do courses to get on their feet or teaching them a skill that is marketable would be highly beneficial.
Offer courses for cheap so lots of people can do it.
Re: Idea for best utilizaiton of cash to help needy
Thanks guys, i agree rickshaw for ladies sewing machines are good ideas, i also am considering an online traning website
i also like traning centre idea for cheap but i am overseas any ideas how can i remotly manage? the rent will be cheap? so does traning instructions might not be very expensive like a computer centre etc, so main cost will be computers etc? anyone done on low scale if can share the cost side of it with me?
Re: Idea for best utilizaiton of cash to help needy
To ensure a circle continues i am thinking about micro finance style deal to help our fellow brothers and sisters
typical option is you give the money or asset and forget about it but say if i give soemone to buy a rickshaw worth 100 K, than ideally want to guy to start paying me back in small installments say 4 or 5 K per month so i can after a year or so use the same money on soemoen else?
what are the changes of this being sucesful in Pakistan? it will work on trust?
Re: Idea for best utilizaiton of cash to help needy
my sister has school in the village where i am orginally from and i have given her decent sum as fee so she teachs fair amount of child as free education, thanks for idea
nice thing u r doing, keep it up :k: