A recently published report titled "Oxfam Poverty Footprint: Understanding Business Contribution to Development" poses serious questions - even for youth entrepreneurs operating micro-businesses. In fact, we would go so far as to say that the nascent stage of business, is exactly the right moment to think about the question: What is my enterprises' footprint on society?
The report which is a prequel to a second outlining the actual methodology for undertaking a footprint survey outlines the reasons why it is important for entrepreneurs to consider their business impact. The report posits that an awareness of the effects of a business on society and people living in poverty can help a business to improve it's operations, understand risks and present new opportunities.
Specific areas of focus include assessing value chains, how the business affects the wider society's standard of living and the social implications of environmental practices. And though Oxfam stipulate that such a footprint survey should be undertaken by independent researchers, ultimately it remains the responsibility of business owners to ensure that their enterprises leave a lasting and positive legacy.
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