ENTREPRENEURSHIP-BASED MODERN INNOVATIVE FOREIGN APPROACHES TO POVERTY REDUCTION
Keywords:
Entrepreneurship; Poverty Reduction; Microfinance; Crowdfunding; Social Entrepreneurship; Informal Economy; Bottom of the Pyramid (BOP); Financial Inclusion; Innovative Approaches; Economic Empowerment.Abstract
This article examines modern innovative foreign approaches to poverty reduction that are based on entrepreneurship and the development of new economic opportunities. Traditional poverty-alleviation strategies—centered on social assistance, donor-funded programs, and subsidies—have often failed to produce sustainable outcomes in many countries. As a result, global research increasingly emphasizes entrepreneurship as a key mechanism for empowering low-income populations and enhancing their economic participation.
The study analyzes several international models, including microfinance, crowdfunding, social entrepreneurship, the formalization of the informal economy, and the Bottom of the Pyramid (BOP) approach. These models demonstrate that when the poor are provided with access to financial resources, technology, and market opportunities, they can transform from passive aid recipients into active economic actors capable of generating stable income. The findings underscore that creating an enabling entrepreneurial environment, expanding access to innovative financial services, and integrating vulnerable groups into formal economic systems represent essential drivers of sustainable poverty reduction.
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