Contemporary Business 14th Edition by Louis Boone, David Kurtz

تمرين 1

Microloans Aid Women's Businesses Almost half of American workers are women, including working mothers. Regardless of income, all saw their economic status deteriorate during the recession. In a recent survey, although most women thought conditions would improve eventually, more than half of working mothers say they are working more hours just to meet basic needs.In response to the demands of childcare and earning a living, many women have started their own businesses. After a career in the fashion industry, Tory Burch launched a successful design company. Learning from her own experience as a working mother, she later established the Tory Burch Foundation. Her research revealed some grim statistics: the majority of poor people in the United States are women. Having a child is one of the leading factors when a woman's income falls below the cost of living. Single mothers are most likely to be self-employed-but are also in the greatest danger of poverty.Inspired by microloan organizations in the developing world, Burch formed a partnership with ACCION USA, a microlender in the United States. At $500 to $50,000, ACCION USA's loans are somewhat larger than those in developing nations, but many have the same purpose: "to economically empower women." Their clients have low to moder-ate incomes and are more likely to be rejected by traditional banks, so these microloans are essential to their success. Forty percent are women, and more than 80 percent are members of minority groups. ACCION USA reports that more than 90 percent of these microloans have been repaid. Burch says, "I like microfinance . . . because it isn't charity in the traditional sense. . . . It gives entrepreneurs the opportunities many of us take for granted, and it is sustainable. . . . It's also incredibly important to the economic recovery of our country."
-Why might having a baby cause a single mother's income to fall?