When deciding on a graduate business degree program, it’s important to think about what you want out of your education. If you would like to start your own business, a generalized, customizable degree option like the online Master of Business Administration (MBA) program from Florida Institute of Technology could be an excellent choice.
Along with choosing an appropriate educational path, you will want to consider the type of business you want to start, such as what products or services you will offer. Another crucial consideration is how the business will reflect what you care about and your values. If you care about where your products come from as well as the ethical treatment of the workers you employ directly or indirectly, you may want to explore what makes a company a fair trade business.
What Is a Fair Trade Business?
From handmade baskets, rugs and jewelry to sustainably grown coffee, cocoa beans and dried fruits, goods produced in developing countries are making their way to the United States. Fair trade — a global movement which enables trading between workers in Africa, Asia, and Latin America with North American and European fair trade organizations and sellers — is helping thousands of people in underdeveloped countries.
A fair trade business takes steps to ensure it supports ethical, equitable trading practices. For instance, consumers that buy fair trade products can be comfortable in the knowledge that the workers involved in the production of the product receive living wages.
Why Start a Fair Trade Business?
Fair trade business owners are helping support and improve the lives of farmers, artisans and other workers in developing countries by buying and selling goods, arts and crafts and food produced within the principles of fair trade. These principles include providing fair wages, providing good working conditions and utilizing sustainable environmental practices, according to the World Fair Trade Organization (WFTO).
As the fair trade movement expands, consumers hear more about global organizations using fair trade ingredients like coffee and tea. However, with the help of fair trade certifying bodies and membership organizations, anyone can start a fair trade business. You don’t have to be the chief executive officer of a multi-billion-dollar company to make a difference.
Even individuals within a company can make a difference and promote fair trade practices. For instance, production managers overseeing outsourced operations in a region with lower labor costs can research what a fair, livable wage in that market would be, and push for compensation at that level. For a business owner, ensuring every manager and department head work to maintain fair trade practices is essential to achieve fair trade standards at a company-wide, holistic level.
LivAfrica: An Example of Fair Trade Business
Sita Monti became a small business owner in order to help support and uplift women and children in South Africa who experience extreme poverty, HIV/AIDS and gender inequality. This mission sparked the need and drive to found LivAfrika.
What started as a hobby blossomed into a fair trade business that allows Monti and her customers to help artisans from Africa provide for their families. Ultimately, anyone wanting to start a fair trade business should inject passion into their work, find a cause and develop a mission for their business.
How to Start a Fair Trade Business
Starting a new business can be intimidating. However, there are several resources available to those willing to take the leap. First, begin with learning more about products available and organizations that can help you. Below is a list of fair trade certifiers, which audit supply chains and products against fair trade criteria, and fair trade membership organizations, which evaluate organizations and retailers on their commitment to fair trade principles.
Certifiers include:
Membership organizations include:
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- World Fair Trade Organization (WFTO)
- Fair Trade Federation (FTF)
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Several of the organizations above provide key tips on how to start a fair trade business. For example, Fair Trade Federation members have prepared advice, do’s and don’ts and an introduction to becoming a fair trade business owner.
Fair Trade Suppliers
Once you complete research and learn more about fair trade and the resources available to you, you can sort through fair trade wholesalers. The following are examples of fair trade wholesalers:
- Creative Women: A socially conscious brand and wholesaler that works with women artisans in nine countries
- Malia Designs: A handbag company based out of Cambodia with a mission to support economic opportunity for women and support organizations that fight human trafficking
- Level Ground Trading: An organization that works directly with more than 5,000 small-scale farmers selling coffee, tea, dried fruit and more
Simply put, what do you want your business to achieve? Who do you want to help and why? Developing a mission and business plan that aligns with your passion, desire to help and business knowledge and experience is vital to starting a small business of your own.
Learn more about Florida Tech’s online MBA program.
