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Social Entrepreneurship for Non-Profit Restaurant

Filed in archive Social Enterprise on July 27, 2010

Social Entrepreneurship for Non-Profit Restaurant
© jeanbowe
Hat City Kitchen is a great restaurant in New Jersey that has joined the other companies around the world in support of social entrepreneurship. As a non-profit restaurant, the Hat City Kitchen uses its revenue to aid the arts of the Valley neighborhood of Orange. Its business model makes it unique as the restaurant hopes to transform the community into an arts district. All the money that the Hat City Kitchen makes will go to funding art shows, music festivals and making the Valley beautiful again. Nevertheless, a number of social entrepreneurship pundits have warned that the restaurant needs to be cautious of its business model, particularly since its using the relatively risky restaurant model. Despite this, the vision of social entrepreneurship for the Kitchen has inspired its workers and the Orange community.

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Is Doing Well While Doing Good a Fad?

Filed in archive General on July 9, 2010

Is Doing Well While Doing Good a Fad?
© @MSG

IFC asked the question a few years ago: Is the idea of a "for-benefit" corporation a hot new business model or just a passing fad?

While I don't think that for-benefit companies will be taking over Wall Street in the immediate future, it does seem clear that the idea is here to stay. And a number of states (California, Colorado, Maryland, New York, North Carolina, Pennsylvania, Oregon and Vermont) are willing to accommodate the idea with legal protections designed to distinguish them from for-profit companies.

The NY Times did a definitive piece on the concept back in 2007. NPR ran a piece a couple of months ago that looked specifically at efforts in California to protect for-benefit companies.

I try to keep an eye on the progress of laws to protect for-benefit companies. I think we can all agree that entrepreneurship is good for our economy. For-benefit companies create a motive for entrepreneurship beyond simple profit. I know people who will argue that that's silly - that no motive beyond profit is necessary. They're wrong, of course. And protecting for-benefit companies will provide fertile group for innovation, too.

The biggest threat to the success of for-benefit companies is that they will become profitable and succeed - at which point they must usually give up their for-benefit status (Ben & Jerry's is the classic example). Unless new laws are put in place to protect the for-benefit motive for entrepreneurship...

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It will take time for microfinance industry to blossom in Fiji

Filed in archive Microfinance on June 9, 2010

It will take time for microfinance industry to blossom in Fiji
© brewbooks
As per Fiji Financial Services Sector Assessment, Fiji like other Pacific Island countries is minuscule to build a big competitive microfinance industry. Though there are certain legal and regulatory hurdles to microfinance and need for improving and building the supporting infrastructure, one of the biggest problems is the lack of suitable products and retail institutions for delivering it. Also, traditional NGO microfinance groups are weak in Fiji.

Even though there are certain problems but still the market is large enough to sustain one or two full service regulated microfinance institutions. A greenfield microfinance could be a possibility but it will turn out to be expensive.

Also certain weaknesses in Fiji microfinance institutions have been noted:

Lack of regulatory and supervisory support for most microfinance, particularly cooperatives
Little interest from the formal financial sector towards peri-urban and rural banking
Lack of appropriate products and services
Weak microfinance support institutions
Lack of accurate data and knowledge-sharing among organizations


It seems it will take considerable time to develop a strong and competitive microfinance industry in Fiji.

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New NCVA Social Enterprise Scheme launched in Northern Ireland

Filed in archive Social Enterprise on June 2, 2010

New NCVA Social Enterprise Scheme launched in Northern Ireland
© NASA Goddard Photo and Video
Arlene Foster, Enterprise Minister has gone ahead and introduced the Northern Ireland Council for Voluntary Action's (NICVA) new social enterprise scheme, Sector Matters Ltd. Under the scheme, back office and ancillary services is being provided to facilitate voluntary and community organizations as well as SMB's to operate in an efficient manner. As a result, under this new scheme, a number of tailored services will be available to meet the needs of the client which could be either finance assistance, human resource advice or management support. NICVA is entrusted with the responsibility of providing leadership and support to its 1,000 member organizations and the sector as a whole.

Arlene Foster, Enterprise Minister stated:

Social enterprises contribute to the achievement of many objectives of the Programme for Government, including the development of a dynamic, innovative society. I have seen the real difference that these enterprises have made on peoples lives, particularly in terms of their impact on local communities and areas of economic disadvantage.


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Corporate social responsibility program launched by Alcatel Lucent

Filed in archive CSR on May 26, 2010

Corporate social responsibility program launched by Alcatel Lucent
© dbgg1979
Empower, a corporate social responsibility program has been launched by Alcatel Lucent which is aimed at India and gets support from Alcatel-Lucent Foundation, philanthropic arm of Alcatel-Lucent. The program is aimed at improving the lives of people in some of the most disadvantaged communities in India not just through direct financial assistance but also through involvement of Alcatel-Lucent employees.

A total of US$205,000 has been committed by the foundation to five NGOs in India over the next two years. This program would be opening up educational opportunities for children and teenagers along with life skills training for disadvantaged youth.

As per Vivek Mohan, Managing Director, Alcatel-Lucent India:

The launch of this program underscores one of our key values as a company -- a commitment to social responsibility. We believe corporate social responsibility (CSR) is critical to building a stronger business and vital to a company's long-term success. Alcatel-Lucent has been part of the Indian business community for more than a quarter of a century and our commitment to this market and the people of India remains strong and focused. Through our CSR efforts we want to help make this community - our community -- better for all of us.

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