Research shows that social good ranks as a business priority for innovative entrepreneurs.
The Economist Intelligence Unit recently surveyed Young Innovators on what they value most, for a report sponsored by FedEx:
- 70 percent say it’s more important to be socially responsible now than it was five years ago
- 64 percent say social responsibility is essential to business success
- 51 percent passed up at least one major business growth opportunity to be socially responsible
Kat Crabill is creating a cleaner future for Kamilo Beach on the island of Hawaii by transforming plastic trash into jewelry with a purpose. She named her company, Nurdle in the Rough Jewelry, after the small pieces of plastic that wash ashore. Crabill’s customers say her jewelry inspires them to clean up the environment and to use less plastic in their lives. That work even helped land her a top prize in the 2017 FedEx Small Business Grant Contest.
Plastic Bank is building a brighter future for people living in poverty-stricken areas polluted with plastic. Here’s how it works: Anyone can exchange plastic waste for items, services or money at above-market rates. The nonprofit will even help local entrepreneurs open convenience stores for the poor, who can use plastic waste as currency to buy what they need. The plastic is recycled and sold at a premium to manufacturers as Social Plastic.
To learn more about what drives Young Innovators, go to The Economist Intelligence Unit’s special report.