Guide To Fair Trade Principles
Fair trade is about addressing the injustices of conventional trade. Decent working conditions, local sustainability, better prices, and fair trades and terms for farmers or suppliers. Fair trade in business excludes discrimination on the poorer producers and shares more with everyone. In normal or standard trade systems, producers are often getting underpaid for their products which makes it difficult to survive in the industry.
In short, the system in the standard trade is unfair.
As SME owners who will be getting their raw products from local producers, it is important that they know how to help these producers thrive in their business. Supporting fair trade enables you to contribute to developing countries, stand up for fair human rights, and raise awareness to support suffering producers from conventional trading systems.
When businesses become Fair Trade Certified, they’re showing to the marketplace that they do not take advantage of people along their supply chains. Instead, they treat all partners with equal respect and are committed to doing the right thing. Fair Trade also discourages forced labour and exploitive child labour.
But if you’re looking for more reasons why you need to support Fair Trade, then here are more reasons why Fair Trade is important for business.
- High Quality Goods – raw products are usually hand made which includes closer attention to detail and high quality products.
- Pro Environment – the fair trade economy supports sustainable practices that minimise harm on the environment.
- Connects to Other Cultures – since you will be more relying on locally produced goods and services, SMEs are drawn to different places and reflect the culture, people, and their society.
- Economically Practical – when you support Fair Trade you are also alleviating global poverty. Improving fair trade artisans to invest in themselves, their production process and get paid a fair living wage.
