Louise Lyons-Appiah: Social Entrepreneurship

Plus a deep dive into Singapore, and opportunities to get involved in the charitable sector!

News of The Day

5 stories shaping our world this morning…

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1. What are ECB Members Saying About Interest Rates? - European Central Bankers have held rates steady recently, but this might be changing as eurozone inflation rates have cooled to 2.4%

2. Unilever to scale back ESG pledges - Shareholder pressure to focus more on stock market performance then environmental and social policies has led the consumer good conglomerate to roll back on green policies.

3. Oil Price Eases Following Tensions Between Iran and Israel - After rising to over $90 per barrel due to uncertainty over future production, oil prices have fallen following Iran’s muted response.

4. Chinese Cities are Sinking - 270 million people are living on sinking land in China, putting coastal areas more at risk of flooding and rising sea levels.

5. The Cost of A New Currency - Zimbabweans bear cost of changing to new ZiG currency

An Interview With Louise Lyons-Appiah 

The 22-year-old co-founder of Breatheunion and a passionate advocate for mental health, personal development, and equality. She is now an independent consultant specialising in emotional resilience and intersectionality working with young people, organisation, and government!

Why are we interviewing Louise?

Louise is a hugely inspiring social entrepreneur who has worked with a range of organisations including the British Youth Council and Bold Voices. Her advice can help you get involved in giving back and helping others!

Why have you decided to share your advice and experiences with Girl Economics?

Honestly, I wanted to support a young girl who was following her passion and creating something that can help inspire other young women. I hope at least one young girl can take something from my story to benefit her life.

Could you tell us about BreatheUni and why you decided to start it?

BreatheUni is a student initiate created by students for students to help support and educate on Mental Health, Personal Development and Equality, Diversity and Inclusion. I decided to start it because I wanted to create a space for young people to understand themselves and each other better in a comfortable and authentic way.

Is there a specific role you have taken on or event you have attended that has made a particularly large impact on you?

Being a workshop facilitator has made a really large impact on me. I have worked with people who experienced deep trauma and still have the most positive outlook on life. Those connections I have made will forever stay with me and remind me that I can get through any hurdle in life.

Who is your biggest inspiration and why?

My biggest inspiration is my father. He came to this country and couldn’t speak a word of English. Now he has been able to work his way up, he became the first black Mcdonalds Franchisee in the UK and created a life for me and my siblings that he could have only ever dreamed of. He taught me humility, resilience and most importantly generosity. He constantly lives his life in service of others and I hope to continue that legacy.

You are doing so many incredible things, how do you balance them all and what do you do to take time for yourself?

Yes, I have a portfolio career as they say. It can be difficult at times, but the great thing about working for yourself is that you are in charge of your own schedule. I will often have really busy periods and then slower periods where I can relax and recharge. I also get up at 5:00, exercise, shower eat so I can start my day off when I am most productive. That really allows me fit all the work I need to do in a day.

What advice would you give to young women who are looking to get involved in advocacy and change-making?

Start with something small that you are passionate about and my most important tip is start with people you love. Change making is a hard thing to do alone. Surround yourself with people who are passionate about the same things as you and together you can create a greater impact!

I love Louise’s passion for her work and this really does come through in her answers! If you are interested in gaining experience in the charitable sector, take a look at these opportunities:

Market Movers

The news stories influencing global markets this morning

Big Profit For Jane Street

Remember our feature on Jane Street? Well, Jane Street has reported its highest quarterly revenues since the pandemic's onset, with net trading revenue estimated at $4.4 billion for the first quarter. The firm's net income is approximately $2.7 billion, boasting a net profit margin exceeding 60%. Jane Street's strong performance reflects its emergence as a major player in global financial markets, outpacing many big rivals and banks. Additionally, the firm has become a significant player in cryptocurrency markets, with turnover surpassing $200 billion over the past three years.

PwC’s Evergrande Audits Under Scrutiny

Hong Kong's audit regulator is probing PwC over alleged audit missteps involving Evergrande (a Chinese real estate developer that was once one of the largest companies in the world), following a whistleblower report. Concerns were raised about PwC's quality management and audit work for Evergrande and PwC denied the allegations but promised a full investigation after Evergrande defaulted in 2021, amidst China's growing property crisis. PwC had audited Evergrande since 2009 but resigned in 2023.

Crypto Miners Hoard Bitcoin Ahead of Halving

Cryptocurrency miners are storing significant amounts of bitcoin ahead of a planned reduction in the reward for mining, in a move designed to mitigate inflation in the value of Bitcoin. Listed miners like Marathon Digital and CleanSpark have accumulated about $2.8 billion worth of bitcoin. Despite concerns about profitability, miners are optimistic that bitcoin's value will continue to rise, as it has in the past after previous halving events.

Deep Dive: Singapore – The Pocket-Sized Economic Powerhouse

SUMMARY

Singapore, a country that measures only 283.5 square milesand a population of 5.9 million (as of 2023), has a GDP per capita of $87,880 (USD, 2023) *, ranking it sixth highest worldwide, and the highest of all countries in Asia. So how does a country this small perform so well, not only in a GDP per capita point of view, but also in corruption (ranked 4th lowest) and other economic indicators?

The first key aspect to know about Singapore is its location. Situated in southeast Asia, the island nation lies off the southern tip of the Malay Peninsula, with the Strait of Malacca to the west. The Strait of Malacca facilitates trade between many major Asian economies, including China, Japan, India and of course Singapore. With a volume of trade worth $3.5 trillion USD** passing through the strait annually,this route carries a substantial proportion of global trade. The location of Singapore not only makes the port useful for trade, but also for refuelling, which helps to create jobs in the local area, which contributes to its economy and growth.

With all this traffic passing through Singapore, it would be quite easy for the facilities and technologies not to be up to scratch, causing delays and knock-on affects with the trade cycle (like we saw with Ever Given blocking the Suez Canal in 2021). However, Singapore has combatted this problem, shown by their top maritime capital ranking of the world since 2015, by their modern and efficient port facilities and infrastructure, including specialised terminals for handling chemical and petroleum products. They seek to continue their state-of-the-art port, with a large, automated container terminal, set to be complete in 2040, called Tuas Port. By having capitalised and continuing to leverage their strategic location, Singapore has successfully maximised its economic advantages, to perform so strongly in the world economy.

It is not only the location of Singapore that has helped the country rise through the ranks, the ease of doing business there, through entrepreneurship promotions by the government and easy-to-do regulatory requirements for businesses has encouraged the start many small and medium-sized enterprises. As of 2022, 71% of Singapore’s total workforce were employed by these companies, compared to 61% in the UK (in 2023) and 56% in Germany (in 2021). The job creation that has occurred through Singapore’s business friendly environment has helped to increase productivity and reduce unemployment rates, boosting the economy.

Although these are not all the reasons of Singapore’s strength despite its size, they provide a good understanding of the strengths of Singapore’s economy, which is continuing to thrive.

*According to data available on the International Monetary Fund website

**According to Institute for Supply Management website

■ By Katie Daly

Thank you for reading another issue of Girl Economics!

Erin McGurk

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