As mentioned in previous posts, the emergence of corporate social responsibility and sustainability is increasing every day. Entrepreneurs are popping up left, right, centre, with a new product or service which is said to “better your life,” but which of these actually improve our living standards or quality of life? Can those that do all be referred to as “social enterprises”? And if not, what makes one business a social enterprise as opposed to a regular entrepreneurial venture?
Social Enterprise
(defn): “[an organisation] with an explicit aim to benefit the community, initiated by a group
of citizens and in which the material interest of capital investors is subject to limits.” (EMES)
There are countless examples of this type of business, as it is not limited to Nongovernment Organizations (NGO) or Nonprofit Organizations (NPO) – they can include for-profit organizations, if they operate through nonprofit mechanisms or with social/environmental goals. Two examples that recently caught my eye are Kiva and Isang Litrong Liwanag.
Kiva Microfunds, which I discovered through a post by Ashley Belzil, is an amazing organization (NPO) that basically allows you to lend money to those struggling to run their businesses in impoverished, developing countries – all through microfinance. Kiva does not collect any interest, and lenders are “almost always guaranteed …a 98.97% return rate”; the simple act of lending, say $25, is so minuscule in comparison to the beneficial change it brings the recipients.
Isang Litrong Liwanag translates to “A Litre of Light,” and is the name of the business that social entrepreneur Illac Diaz (with the help of others) began in the Philippines. Using water and chlorine in a plastic drink bottle, this enterprise has provided over 30,000 homes all over the world, with solar, sustainable, and 55-watt light-‘bulbs’ – brightening up many households that otherwise would be spending much more money on electricity.
Unfortunately, I feel that the brilliance and impact of this social enterprise (and so many others) are overlooked and do not receive the credit they deserve, especially relative to companies that supply us with luxuries, like electronics or clothing. As a global community, we need to strive to fulfill more necessities rather than desires, even if these necessities are not directly our own – because in the end, we’re affected by the actions of others.
Watch: Kiva Watch: Isang Litrong Liwanag
Sources:
http://www.emes.net/index.php?id=203
http://srint.org/terminology/
http://www.kiva.org/about/how
http://aliteroflight.org/about-us/
https://blogs.ubc.ca/ashleybelzil/2012/11/13/the-gift-of-giving/
http://www.fastcoexist.com/1678329/the-worlds-cheapest-lightbulb-is-made-of-just-a-plastic-bottle
http://www.wimp.com/lightenup/
Photo:
http://2.bp.blogspot.com/-ufnyUq4qC-Q/T2d4X5iBx-I/AAAAAAAAAF0/3u8vOPICXHI/s1600/CHOOSESE.jpg
