Social entrepreneurs harness their business savvy to solve society’s social issues through creating a viable and functioning social venture. While social enterprises are measured in the traditional sense (profit, etc), they are also graded, more importantly, based on social capital, or their return and impact on their social goals. Here are Business in a Nutshell’s top 5 picks for this year (not in any particular order):
1. Sustainable Harvest
Portland, OR
Founded: 1997
Employees: 30+
Last Year’s Revenue: ~$32 million
David Griswold founded Sustainable Harvest with the goal of building a socially responsibl coffee importing business. Sustainable Harvest creates a linkage between growers in developing countries throughout Latin America and East Africa and roasters in developed nations. Since its inception, Griswold’s firm has channeled over $1 million to coffee-growing communities. Sustainable Harvest invests upwards of 60% of its operating income to train and build infrastructure to its chain suppliers.
2. Southern Bancorp
Arkadelphia, AK
Founded: 1986
Employees: 300+
Last year’s Revenue: $60+ million
Founded by a prominent group of Arkansas business people and government leaders,
Bancorp’s goal is to reduce rural poverty in Arkansas through reducing unemployment rates and increasing high school graduation rates. An affiliated non-profit helps achieve those goals through dividends earned from the bank. Bancorp competes with traditional banks head to head and funnels its profits bank into the community.
3. The Redwoods Group
Morrisville, NC
Founded: 1998
Employees: 90
Last Year’s Revenue: ~$12 million
Founder Kevin Trapani’s, insurance company insures YMCAs, a typically undesirable niche market. Redwoods Group insures 480 of the 970 YMCAs in the United States. Trapani’s firm strives to implement measures to reduce YMCA accidents, such as drowning, transportation incidents, and sexual abuse.
4. Progreso Financiero
Moutain View, CA
Founded: 2005
Employees: 200
Last Year’s Revenue: N/A
Financiero specializes in making micro loans (avg. $900) to Hispanics who lack the necessary credit to receive regular bank loans. When the loans are repaid, the customer’s progress is reported to credit bureaus to build their credit scores. The yet-to-be profitable firm has made over 50,000 loans since its inception, and estimates $50 million in revenue by year-end 2011. Recently, Progreso has landed $28 million in venture capital and former Visa exec joined its board.
5. Organic Valley
LaFarge, WI
Founded: 1988
Employees: 500+
Last Year’s Revenue: ~$500 million
Begun as a small co-op of Wisconsin farmers, Organic Valley has come to include 10 percent of all U.S. organic farms. Organic Valley strives to hold its 1,200 members to higher standards than the organic certification standards. The co-op hopes to improve consumers’ view on organic products as well as benefit individual farmers across the country.
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