New business model helping the way NFPs receive funds
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Socielle, a social enterprise that operates as an online retail shop, is implementing a new business model in order to help change the way not-for-profit organisations receive funding for their projects.
‘Shopfunding’ is a process similar to collecting loyalty points from a store. For each purchase made through Socielle, the buyer will be given points which they can then allocate to a cause of their choice, helping to fund projects being run by a number of different charity partners.
“We’re starting to see consumers understand their impact, and as the world becomes a smaller place thanks to the internet and social media, these issues can no longer be swept under the carpet,” said Rachelle Coombes, founder of Socielle.
Coombes hopes that Socielle will help change the way socially conscious projects are funded, with NFPs eventually needing less marketing due to businesses making more contributions through programs such as shopfunding.
“The problem with existing social enterprises is that they’re not targeted at a mainstream audience,” she said.
“But socially conscious brands are on the rise, and recent certifications like the B.Corp are providing ways for corporates and businesses to introduce ethics and sustainability principles into their everyday production.”
Coombes said that brands and products are not always perfect throughout every part of the value chain – “but we’re getting closer.”
“Businesses that are socially conscious will be catalysts for change in the future. What policy can’t and won’t fix – businesses will be able to influence,” she said.
