Today is International Women's Day, and a lot is being shared about women's rights and gender equality.
We have seen plenty of social innovations and for-purpose businesses that are geared at helping empower women and provide them with equal rights and opportunities. Eve Echo, which was founded by a woman dedicated to helping other women, is one of those companies.
It was founded by Eve Friedman, who left her career as a successful advertising executive to follow her passion to empower women. She started Eve Echo with the intention of freeing women from oppression and giving them the opportunity to support themselves through a fair income. In partnership with Foundation for International Community Assistance (FINCA), Eve Echo uses the profits from the sale of soaps and hand sanitizers to provide microloans to women living in poverty.
"The women use the loans as working capital to expand or start their own businesses," the website explains. "After one year, the original loan, plus interest, is returned to Eve Echo. Then the cycle repeats, allowing us to lend larger amounts of capital to organizations that focus on bringing social empowerment to women, advancing us closer to our mission."
Eve Echo website
Eve Echo on Twitter
Eve Echo on Facebook
'Eve Echo' Sells Hygiene Products That Offer Loans to Female Entrepreneurs
1. Social Empowerment - Eve Echo's model of using profits from hygiene products to provide microloans to women living in poverty disrupts traditional charity models and empowers women to support themselves through entrepreneurship.
2. For-purpose Business - Eve Echo's mission-driven business model of selling hygiene products to fund social empowerment initiatives disrupts the traditional profit-focused business model and showcases the potential for creating positive social impact.
3. Gender Equality - Eve Echo's focus on empowering women through microloans aligns with the global movement for gender equality and highlights the importance of financial inclusion for marginalized communities.
1. Hygiene Products - The hygiene products industry has an opportunity to adopt a social empowerment approach, like Eve Echo, by donating a portion of profits or offering microloans to marginalized communities.
2. Nonprofit Sector - Nonprofit organizations have the opportunity to explore innovative collaborations with businesses, similar to Eve Echo's partnership with FINCA, to create sustainable funding streams for their social empowerment initiatives.
3. Advertising - The advertising industry has the potential to support social empowerment initiatives, like Eve Echo, by using their platforms to raise awareness and promote companies that are dedicated to creating positive social change.