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Is it a better idea to provide poor people with cash rather than welfare benefit like food stamps?

I'm starting a social enterprise with a business model that provides cash directly to poor people through the private sector, with the goal of taking them from dependency to independence. Just wanted to know what smart people on this site think.

30 Replies

Patrick Colmenar
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Patrick Colmenar Entrepreneur
Development Manager at LDProducts
I don't know too much about this topic. But I read this article yesterday and it seems to validate your theory -http://www.businessinsider.com/basic-income-talks-hit-new-zealand-2016-3
Derick Smith
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Derick Smith Entrepreneur • Advisor
CEO @ Chainreactor
Tyrone, the issue, as approached by universal income proponents, is for such income to be non-discriminatory. There are many purposes for it, and it should come with minimum bureaucratic cost. Then it works out cheaper than any form of social security where people have to jump through hoops. This will probably be a requirement anyway to keep the consumer cycle going as people get replaced by autonomous software and robots.

As a private enterprise its a tough call. It is really something governments should do.
Mikael Löwgren
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Mikael Löwgren Entrepreneur
SAP Consultant at Avega Group
I think it's a great idea. I don't know much either. There is a paper in Sweden that helps homeless to sell the paper on the street and earn money from it. They also support to get the people out of their situation.
I think a model like this is dependent on the public trust of the business and the homeless that money don't go to something else. It's easier for people to accept foodstamps. So I think the business needs to be more transparant and give examples of success if cash is used.
The swedish paper is declaring how they use the money to help people and they also write success stories in ads and in the paper.

http://www.situationsthlm.se/var-verksamhet

Jacqueline Chu
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Jacqueline Chu Entrepreneur
Executive Director of Field Operations, Division of Early Childhood Education at NYC Department of Education
Tyrone, can say a little more about your model? Would this be like microlending or something else?
Dimitry Rotstein
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Dimitry Rotstein Entrepreneur
Head of R&D at SafeZone
What exactly does "provide cash directly" mean?
If the idea is simply to give cash to the poor as a charity and do nothing else, then I don't think that would help them become independent. On the contrary, that may well make them dependent on that charity.
If, on the other hand, they are provided with information and tools that will help them get a job and learn to manage their income in an efficient and appropriate way, then giving them some cash to get them started (e.g. buy decent clothes for the job interview, rent an apartment close to work until the first salary...) is a great idea and I wish you luck with your enterprise.
Although personally I feel that it is a duty of the government to do such things, but let's not go into politics :-)
Tyrone Thomas Jr.
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Tyrone Thomas Jr. Entrepreneur
Director of Marketing at King Solomon's Secrets Inc.
Thanks everyone for the comments...

WHAT WE DO?

We provide the world's first and only financial service designed to reduce poverty and economic inequality.

How It Works
1. When you join United Shared Savings Network, you are automatically enrolled into a number of participating Cash Back programs that offers the option of an electronic payment into an account of your choice.

2.You simply designate the "United Shared Savings Network" as payee for the cash out option, which authorizes an automatic transfer into the United Shared Savings Network group account along with all other members.

3.At the end of every month "United Shared Savings Network" re-distributes the accumulated cash back to all members on a unique proprietary payout structure that allows each person to ultimately receive up to $2,500 per month on an ongoing basis as new members join the program.

(***As members on social net programs receive income from this program it transforms them from government dependence to independence by gradually reducing the need for food stamps benefits)

We designed this program to first and foremosthelp those who on social net programs and actively trying to help themselves; to qualify for a payout you must be employed, enrolled in some educational or training program, a Veteran, Sr. Citizen, or have some physical or mental disability that prevents you from being able to be employed or educated. It is very important for everyone to understand thatwe provide a hand up... not a hand out!

http://https://www.gofundme.com/sharedsavings


If anyone needs additional information o0r is interested in joining me on this extremely profitable journey, please contact me .

Tyrone Thomas Jr.
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Tyrone Thomas Jr. Entrepreneur
Director of Marketing at King Solomon's Secrets Inc.
For the people reading this discussion...this is not free money for doing nothing, it's something that's already available in the capitalistic marketplace. I combined a few business models and tweaked them to solve one the worlds most persistent problems that's causing all kinds of negative issues. countries around the world needs a cost effective action plan..that's what this is....a real no-brainer simple solution. Would like to hear more from potential investors and those interested in becoming a co-founder.
Karen Leventhal
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Karen Leventhal Entrepreneur
Founder & CEO at SE Rising
I'm not sure I fully understand the model, but as a social entrepreneur I find the general concept intriguing. As an analogy, I started my own for profit social enterprise because I saw there was a legion of consultants trying to make money off of social entrepreneurs by giving them advice on how to spend money that didn't exist. Most of these entrepreneurs were pretty smart people who understood their market and situation quite well, resources were just generally very scant. Having worked in community change, I think "poor" people usually understand their situation pretty well and it's often well intentioned but misguided to structure how people use assistance, keeping in mind that will be of course some deadbeats. That being said, in whatever way it can be smart money, as opposed to dumb money.. the better. Feel free to reach out if you'd like to converse further...
Dimitry Rotstein
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Dimitry Rotstein Entrepreneur
Head of R&D at SafeZone
Hmm, Tyrone, you do realize that you have told absolutely nothing about your idea? "Combined business models, cost effective plan, no-brainer..." - sounds more like a riddle than a description of an idea.
Tyrone Thomas Jr.
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Tyrone Thomas Jr. Entrepreneur
Director of Marketing at King Solomon's Secrets Inc.
Dimitry,

I understand your confusion about the way this part of the program works but you are forgetting one simple thing...the fact that I Have not disclosed the proprietary payout plan or exactly how we will acquire a huge number of food stamp recipients and other members for our program. That is part of the secret ingredient and seems like what you are trying to figure out. It would be irresponsible for me to release this information, in a public setting, without a NDA or before I get my IP protection.

I am assuming that you do understand the basic concept of myexplanationof How It Works.


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