Social business was first defined by Nobel Peace Prize laureate Prof. Muhammad Yunus in his several books such as “Creating a world without poverty, social business and the future of capitalism”.
It is a cause-driven business to adress a social problem which aim is not to maximize profit but to reinvest it in the business.
The main objective is to achieve social goals and to overcome poverty by adressing social issues such as education and technology access, health and environment while giving decent incomes and working conditions to workforce.
Investors can’t get dividends knowing that profit is used for social causes and for charges. It is not based on donations like a non-profit organisation but it is self-sustainable.
Fair trade is a social movement whose purpose is to help producers from Southern countries to get better living conditions by supporting their trade on the domestic market as well as internationally.
The movement concerns products which are exported from developing to developed countries mainly such as sugar, coffee, tea, cocoa, bananas, honey, coton, fruits and handicrafts in order to promote equity in international trading.
It also promotes production based on ecological practices in order to raise awareness about the necesity to protect the environment.
There are four fair trade labelling networks such as World Fair Trade Organisation, Fair Trade Labelling Organizations International, Network of European Worldshop and European Fair Trade Organization.