Rags2Riches (R2R) is a
social enterprise
A social enterprise is an organization that applies commercial strategies to maximize improvements in financial, social and environmental well-being. This may include maximizing social impact alongside profits for co-owners.
Social enterprises ha ...
that was established in 2007 and is based in the
Philippines
The Philippines, officially the Republic of the Philippines, is an Archipelagic state, archipelagic country in Southeast Asia. Located in the western Pacific Ocean, it consists of List of islands of the Philippines, 7,641 islands, with a tot ...
.
[Arceo-Dumlao, Tina]
"Rags2Riches Wins Top Prize in the International BiD Challenge"
''Philippine Daily Inquirer
The ''Philippine Daily Inquirer'' (''PDI''), or simply the ''Inquirer'', is an English-language newspaper in the Philippines. Founded in 1985, it is often regarded as the Philippines' newspaper of record. The newspaper is the most awarded broad ...
'', Philippines, 30 January 2009. Retrieved on 12 February 2012. R2R’s contributions to society lie mainly in its endeavours to alleviate
poverty
Poverty is a state or condition in which an individual lacks the financial resources and essentials for a basic standard of living. Poverty can have diverse Biophysical environmen ...
in
Payatas
Payatas is an administrative division in eastern Metro Manila, the Philippines. It is an urban barangay located in the 2nd district of Quezon City adjacent to the barangays of Commonwealth, Batasan Hills and Bagong Silangan.
Etymology
The ...
,
Quezon City
Quezon City (, ; ), also known as the City of Quezon and Q.C. (read and pronounced in Filipino language, Filipino as Kyusi), is the richest and List of cities in the Philippines, most populous city in the Philippines. According to the 2020 c ...
.
[Khalsa, Dharma]
"Haute Couture With a Heart"
, '' Global Envision'', Philippines, 22 August 2011. Retrieved on 12 February 2012. Statistics from the National Statistical Coordination Board of the Philippines show that Quezon City has the highest incidence of poverty in the region it lies in and the figures are also much higher than the national average.
[National Statistical Coordination Board]
"Annual Per Capita Poverty Threshold, Poverty Incidence and Magnitude of Poor Families, by Region and Province: 1991, 2003, 2006 and 2009"
, '' National Statistical Coordination Board'', Philippines. Retrieved on 12 February 2012. R2R works with women from these poor communities in Payatas to increase their levels of income and bring them out of poverty.
[
A potential obstacle in raising income levels to fight poverty is that help is only rendered to a handful of people due to a lack of reach. R2R assisted in the process of pushing the products made by the women into the top-end of the market. ][Rolex Awards for Enterprise]
"Reese Fernandez"
'' Rolex Awards for Enterprise''. Retrieved on 12 February 2012. The in-demand products allow for an increase in the reach of the project. The Rags2Riches Project is expected to impact 5,000 women in the next 5 years, an increase from a few hundred today.[Schwartz, Ariel]
"Rags2Riches Empowers Impoverished Women to Turn Recycled Scrap into Haute Couture"
''Fast Company
''Fast Company'' is an American business magazine published monthly in print and online, focusing on technology, business, and design. It releases six print issues annually.
History
''Fast Company'' was founded in November 1995 by Alan Webb ...
''. Retrieved on 12 February 2012. In addition, another project will be focusing on the development and creation of new products that could be made from the rugs that the women produce. This will be done through the establishment of the R2R Innovation and Social Entrepreneurship Centre.poverty
Poverty is a state or condition in which an individual lacks the financial resources and essentials for a basic standard of living. Poverty can have diverse Biophysical environmen ...
, R2R has embarked on various programs to develop the women as individuals who can function better in society.[ Alberto, Matthew]
"Social Enterprise in the Philippines"
, '' World Challenge Down To Business'', 4 July 2011. Retrieved on 12 February 2012. R2R has a program which imparts business and life skills
Life skills are abilities for adaptive and positive behavior that enable humans to deal effectively with the demands and challenges of life. This concept is also termed as psychosocial competency. The subject varies greatly depending on social no ...
to the women. This includes areas such as personal finance
Personal finance is the financial management that an individual or a family unit performs to budget, save, and spend monetary resources in a controlled manner, taking into account various financial risks and future life events.
When planni ...
, health insurance and nutrition.
References
{{reflist
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Organizations based in Metro Manila
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