At a time when low-income business owners are grappling with soaring costs in addition to the usual challenges they face, we know that support provided through Lendwithcare loans will be crucial to help weather the storm.
To provide you with a deeper insight, we recently spoke with Kulsoom about her own experiences dealing with rising costs.
Kulsoom is a hard-working businesswoman from Kasur who has seen steady improvement in her income since receiving her first loan in 2015. This loan helped her to open a general store, but the turning point was when she was first able to invest in a refrigerator. This allowed her to start selling a wider range of goods, and she has now acquired a storage space which means she can purchase stock in larger quantities.
Through her loan support, Kulsoom tells us that she and her family now own their own home, and they were also able to pay for her daughter Soniya’s dream wedding. However, the rising cost of living in Pakistan has impacted Kulsoom’s family. In November, she told us that rising costs are making everyday life unbearably hard. Staple cooking ingredients such as flour and ghee have increased in cost significantly, and hoarding has become commonplace. Sharp increases to the cost of electricity and petrol have also been felt across Pakistan.
Despite this hardship, Kulsoom remains optimistic. She likes to maintain perspective, and is thankful that her situation today is much better than before. It is clear that for Kulsoom, her business provides her with a strong sense of pride and confidence that she will be able to continue providing for her family in the face of adversity.
Remember that our gift vouchers provide an excellent ethical Christmas gift for your friends and family. Every gift voucher given this Christmas provides an opportunity to support an entrepreneur like Kulsoom. You can give a Lendwithcare voucher today here.