Why Change Coffee exists
In 2019 World Vision Australia launched its first social enterprise, Change Coffee. A specialty coffee roasting business with a big idea…to change the world. With 100% of profits going towards alleviating poverty globally, the vision was huge. Creating an impact on a large scale through consumers buying an everyday product meant leveraging a community of change-makers who believed in the cause to help make it happen. Is this achievable? Are consumers really choosing products that are making a difference? We believe they are, and that is the exciting part!
According to a new Neilson study, 50% of global consumers are willing to pay more for goods and services from companies that have implemented programs to give back to society.
The world today is full of problems and we’re all aware of them. We often wonder how we could solve them all. With governments and not for profits under-resourced the reality is that we are not making fast progress. Large scale impact seems impossible, but many believe that capitalism used for the greater good is the answer to some of the world's biggest challenges - that businesses hold the key to solving societal challenges. How can this be so? Because profit holds the magic, it's the answer because it allows solutions to be scalable and sustainable.
Companies are now realising that finding opportunities for creating social and economic value is not only deeply transformative for businesses and communities, but profitable.
Let's face it, capitalism has a bad name and is often seen as against society. Looting resources and polluting our environment has become normalised and even an accepted principle to drive growth. But many entrepreneurs are looking to redefine capitalism and the role of business in society. They believe that business has the power to effect positive social and environmental change instead. Can business be used for good? And is there a case for letting businesses solve world problems?
The reality is that there is a new economy, a purpose-driven economy. An economy that links business profits with societal change. The question for leaders has now become how do we create a thriving and sustainable future for all? They understand that by tapping into the power of business we can address some of the world’s most fundamental issues and that businesses can impact, and address some of these problems in a scalable and sustainable way. But most importantly these businesses according to Harvard are not only making a profit but performing 17% better than others. This indicates that we are redefining how we see success and how it is measured. There’s a new bottom line and it’s measured not only by profit but by the impact we have on people and the planet too.
It’s easy to see why, with the uncertain long term future of fundamental resources, political instability, demographic shifts, climate change, 4th industrial revolution technologies, humanity’s continual search for meaning, global human responsibility, connection, and empathy has never been so necessary. People want to make a difference and companies who capitalise on this new wave of possibility are reaping the benefits.
Could this be the largest business opportunity we see today? Using the power of business to change the world? As some of the world's biggest companies begin to embrace this idea. It’s probably worth a second look.
Author: Simone Dowding