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From the Blog

Call it Conscious Capitalism, call it Social Entrepreneurship, but in this age of faceless multi-national corporations there is a movement to business that partners with communities rather than undermining them.

When New Mexico Tea Co. needed financial capital, they called on their extensive social capital:

Edwards owns New Mexico Tea Co. near Albuquerque’s Old Town. It sells a wide variety of bulk loose leaf teas. When his bank turned him down for a line of credit recently, he turned to the loyal customer base he has built over four years.

He sent an e-mail to the 3,800 people on his newsletter list in an effort to raise $5,000. Within about 48 hours, he had raised $10,000, made up of $4,500 in “microloans” and $5,500 in gift cards that can be redeemed starting in December for slightly more than their cost.

“You don’t really know how much the community cares about you until you ask for help,” Edwards said. “Most of them had never done anything like that. But most had never been asked.”

via Loyal customers infuse New Mexico Tea Co. with green – New Mexico Business Weekly.

In many underserved communities, however, neither the invisible hand of the government nor markets cater to even the most basic needs of their members, resulting in structural and behavioral barriers to the community's growth and development. These barriers are addressed by products and services engineered by social entrepreneurs.

Social Entrepreneurship is an emerging and evolving concept. This article from an Indian Summit called Sankalp 2010 provides a great snapshot. It talks about what Social Enterprise is, an example in Mumbai of the “Dabbawallas,” and the need it fills.

via Reporting from Sankalp 2010 | Blog | NextBillion.net | Development through Enterprise.