One of the pangs that the COVID-19 pandemic has brought in the economic faucet is the deepened wealth gap between the poor and the rich. People are at the extreme ends of poverty and wealth globally. Both categories are equally affected. With many languishing in debts, the situation seems helpless. Consumers cannot buy products due to a lack of sustainability. Their sources of livelihoods have faded away.
For a leader like James Gutierrez, the situation doesn’t have to remain the same. His approach to the problem is different. He knows that efforts like financing businesses will seal this gap. Gutierrez collaboration with Aura seeks to provide low-interest loans to businesses that need financing. The entrepreneur aims to extend his funding and banking services into various industries. James Gutierrez emphasizes growth. As the customer grows, they step up to a higher tax bracket. He wants to create a collective with the capability of developing his customers into that high tax bracket. That’s how wealth gaps close. If the low-income earners remain at the same level or lower, the gap widens, and vice versa.
The FinTech entrepreneur is focusing more on minority households. He says his latest mobile-first platform will empower underserved consumers and eventually seal the wealth gaps. James Gutierrez does not believe in one-size-fits-all approaches. The approach is more of opportunistic exploitation of the underserved communities. With transparency and new approaches like low-interest loans for all interested individuals, the hardworking individuals have a chance to build wealth and shun debts.
James Gutierrez is an expert in corporate social responsibility. That is why he is optimistic that the approach will work. He is pushing the idea to the governmental level and private companies. James suggests a reporting scheme backed by the existing government benefits and goes along with the company values. If a company wants to benefit, it will have to post its financial reports public for the shareholders to see. This way, the companies will be offering value and not penalties.