sProject 1 Scope

"Online Shopping Could End Poverty" 

...Really?

There is a global poverty crisis which many of us are aware of, but sometimes it seems too difficult to be part of a solution. What if our daily routines could be the solution? All this takes is a change of perspective.

Creating a world where ONLINE SHOPPING ENDS POVERTY requires a global movement. A movement which begins with every individual sharing a common purpose.SHARE and SPREAD this idea with your social network and create a new social consumer movement.

 sProject 1 is sPurpo's inaugural social business created to kick-start and illustrate the notion that online shopping could end poverty.

We want to see our favorite everyday brands such as Nike, Ralph Lauren, Apple and Samsung be a part of this idea; let's  SHARE and SPREAD this idea and create a shopping movement.

Here's how our model works:


When you choose to shop at sProject 1, at least 60% of the annual net profits are contributed to established Microfinance Organizations, who help people in need gain access to a business education and financial services. Each microfinance entrepreneur then creates a sustainable business of their own, ending their poverty cycle. The microfinance entrepreneur repays the loan, which is then re-used to fund another person in need. 

This cycle propagates, giving people a fighting chance to make poverty history. 

A question frequently posed to us is whether we mark-up our products to 60% above the average market price. The answer is "No"; our products are sold at competitive market prices and we believe that, with your support, we are able to allocate 60% of annual net profits towards making a Social Impact. Our aim is to challenge other online stores to adopt this model and allocate a small Social Impact Margin into their bottom line.

sProject 1 can't realize a world where online shopping ends poverty on its own. We hope to SHARE the idea with all other online stores and together, make poverty history.

 Watch the message:



sProject 1 is not a Charity; it's a self sustaining social business.

We all understand the basic concept of Charities and Non-Profit Organizations: each donation and contribution made to a charity is used to carry out the charitable works. An administrative fee is usually incurred but the majority of the donation is used for its cause.

A social business, however, aims to integrate social impact with our every day lives. sProject 1 is set up to provide you with an alternative means for purchasing gadgets and to make as much profit as possible to give people in need a fighting chance to make poverty history through microfinance.

Like any other business, the sPurpo team raised funds to kick-start sProject 1. The team engaged Impact Investors who shared the idea and dream and contributed the start-up capital. In return, the Impact Investors receive a 10% dividend of annual profits, divided proportionally to the amount of their  contribution. This shows that any business can be a sustainable, profitable business while creating a significant financial and social impact.
 

Any Business that provides a product or service involves many costs.  If you had an amount of money and wanted to help someone in a developing nation to start a business, we would advise you to donate directly to a microfinance organization, in order to realize the full impact of your donation.

However, if you had a gadget need we can meet, or if you were about to purchase a technological device enhancement, this is where sProject 1 comes in. Instead of purchasing your gadget from another company, making that company even richer, you could choose to help someone out of poverty by shopping with us instead.

Track the social impact created by sProject 1 here. 

sProject 1 Legal Structure

sProject 1 is owned by SPURPO PTY LTD, a registered Australian company staffed with dedicated individuals and partially owned by Impact Investors, who aim to spread the Social Business concept and change the way we view the world. All accounts are audited independently, annually.

SPURPO works with accountants from KST Partners to ensure it meets best practice on all legal and financial matters.

 

The Inspiration

Microfinance is usually understood as the provision of financial  and non-financial services, such as business training, to micro-entrepreneurs. These entrepreneurs need help as they lack access to banking and other crucial services due to their high transaction costs.

Share in our inspiration by watching this talk from the founder of one off the most successful microfinance organizations - Kiva.org.