Fair Trade Center pushes social entrepreneurship

CEBU, Philippines - “Social Entrepreneurship is a business with a social mission that includes caring for the environment, economic viability or sustainability, and improving the lives of the marginalized especially the impoverished sectors.”

This according to Southern Partners and Fair Trade Center Managing Director Geraldine M. Labradores when asked about social entrepreneurship (SE) and how it can help Filipinos.

Labradores said that unlike the other businesses that are only concerned about profit, social entrepreneurship on the other hand is a business that provides welfare to the Filipinos especially those who manufacture their own products.

SE also takes care of their people; they make sure that their employees are not exploited and are given reasonable salary that can suffice their needs.

As of now, Labradores said that only two percent of the business world are engaged in social entrepreneurship. She said that this is maybe because they are afraid of the audit system in which more benefits will be given to the producers.

Aside from looking into the benefits of the product-maker, SE also looks at the benefits that the consumer may derive from their products. SE also have a very simple, less laminated packaging which was admired by the people worldwide because according to the buyers abroad, these are very environmental and health friendly.

When asked on how they determine the prices of their products, Labradores said that they based it on the total cost of raw materials and the labor plus 20 percent marginal cost. They just make sure that the workers are well compensated and the buying price of the farmers are well-respected.

Labradores however said that fair trade business has not yet gained enough support unlike the other companies. She added that maybe because the government thinks social entrepreneurship is not as competent in uplifting the economy of the country compared to the gasoline and cigarette corporations. But she believes that if this is given much attention by the government, this will become a major vehicle for poverty reduction as well as could address environmental problems. (BANAT NEWS)