|
||||||||||
    
|
||||||||||
|
|
Forrest Hill Tax Accountants & World VisionAlthough we are only a very small business in New Zealand, we are excited that we are able to have a significant impact on the lives of a large number of people.The developed world tends to have an unfair advantage by being able to buy cheap goods from developing countries often at the expense of the poor. We have discovered that while we cannot change the way the World works we can turn it upside down by donating money back to third world countries to establish Community Banks. RELATIVELY SMALL AMOUNTS IN $NZ TURN INTO HUGE FUNDS IN THIRD WORLD COUNTRIES. Vision Fund Cambodia Micro-Finance Service to Small Business OwnersSamrong Tong CambodiaForrest Hill Tax Accountants donates funds to its own World Vision Community Banks. The money donated to these Community Banks is lent as small loans to groups of the poorest small business operators who have no way of ever getting a loan from a traditional bank. They use the loan to either start their businesses or expand them. Forrest Hill Tax Accountants first Community Bank is established in Samrong Tong Cambodia.The operation is self-funding. Interest is charged. This interest is used to pay a local person to administer the fund. Those in the group cross guarantee each others loans, self-select members, elect leaders, and provide mutual encouragement and accountability. When repaid, the money is re-lent to others meaning THE SAME MONEY IS REPEATEDLY BENEFITING DIFFERENT PEOPLE. The interest pays the wages for one of the group to administer the operation. Through this Community Bank, 4200 people's lives are enriched either directly or indirectly. Vision Fund Mongolia - A second Community BankUvurkhangai MongoliaForrest Hill Tax Accountants has recently donated funds to establish its second World Vision Community Bank this time in Mongolia in the region of Uvurkhangai. More than 70% of Mongolians earn less than NZ$2 per day. As in Cambodia the funds donated to this bank provide ongoing business training and small loans to a group of the entrepreneurial poor, benefiting the economy of their whole community. These people would not qualify to get a loan from a normal bank. |
|||||||||
 The material on this web site is copyright ©2005 by Stephen Taylor and Forrest Hill Tax Shop. All rights reserved. If you copy material from this web site, our reports, or articles for use in any printed or electronic media please ask permission first by email. 
|
||||||||||
