Social Entrepreneurs That Are Changing the Developing World
Friday, July 24, 2015
Corporate Social Responsibility is a trend that has been gaining more attention in recent years.
Half of consumers are willing to pay more for a product if they know that the company is charitable. Business owners are experiencing a growth in revenue as well and the world is experiencing social improvements through incorporating philanthropy into their business plan.
As CSR is rising, the divide between non-profit and for profit companies are beginning to blur. These businesses below have found a way to combine determination, compassion and innovation and become agents of change.
After working in the Peace Corps, co-founders Brett Beach and Tim McCollum sought to find a solution to help Madacascar, the world’s fourth poorest country. Their answer stemmed from the lush environment that surrounded them.
Seventy percent of the world’s cocoa supply is from West Africa, however, only one percent of chocolate is actually produced there. Beach and McCollum began a social enterprise producing chocolate in Madagascar then selling the chocolate internationally, so the local workforce could reap the economic rewards.
They experienced the same issues as startups are faced with in America, but with the added obstacle of working in a country plagued with economic and political hardships. After four years of bootstrapping, Madécasse received the funding they needed. Rather than giving up, McCollum used this time to learn about the chocolate industry and how to run a business in a generally poor country.