Asset Building as a Step out of Poverty

What is asset building?

Asset building is a holistic approach that emphasizes that all individuals, whether they live in poverty or not, have assets and that these assets can be developed and enhanced. The BC ABC, as a sector leader, subscribes to the Sustainable Livelihoods Model definition of asset building as seen here:

Social assets - the network of family and community support;
Personal assets - their self confidence, determination and assertiveness;
Human assets - their skills and knowledge and ability to learn and work;
Physical assets - their ability to meet the basic needs of food, shelter, transportation and access to other required services;
Financial assets - financial knowledge and capability, access to credit, savings and investments.

Asset building is the process of supporting and encouraging low income earners, and those living in poverty, to accumulate, develop, and preserve all types of assets.

In asset building programs the accumulated financial assets that can be invested (either in education for oneself or a child, a small business, a home, or a nest egg for retirement) serve as a tool that results in the development of the full range of assets.

The holistic asset building process empower participants to make valuable connections within the community, develop their skills, and improve their self-confidence, decision making abilities, and personal planning skills. See the Success Stories for more detailed accounts on the tremendous transformation seen in the lives of participants.

This website was produced with CEDTAP, Vancity, Bell Canada, and the Royal Bank of Canada.