What is Micro-Commerce?
The global economy has recently seen the amazing potential of microfinance for the developing world. Well-known examples of successful micro-finance initiatives include the Grameen Bank micro-credit banking system in Bangladesh, for which it received the Nobel Peace Prize in 2006, and Kiva.org’s international peer-to-peer micro-lending platform. At the same time, rapid advances in Internet technology and access have lead to the growth of online commercial transactions, or e-commerce, through websites such as eBay, Paypal, Amazon.com and others. Micro-commerce is an emerging field that blends aspects of e-commerce with microfinance. Specifically, this involves utilizing micro-finance platforms to provide local entrepreneurs in the developing world with access to the capital they need to sell their products and services in an online market place.
Internet Bar’s Micro-Commerce Justice Initiative
Internet Bar is attempting to unite the above trends by developing the Micro-Commerce Justice Initiative. Its goal is to bring sustainable microfinance, social justice and e-commerce to the developing world by establishing online business opportunities and direct transactions with the markets of industrialized nations. In this way, Internet Bar will help local entrepreneurs link into the global e-commerce network, which will in turn help alleviate poverty and increase basic human rights, including economic rights.
Internet Bar believes that the vast communication and commercial power of the Internet and e-commerce brings unprecedented opportunities for income generation to the developing world. However, IBO also understands that the success of technology-based initiatives in developing regions depends upon education, understanding national and international laws, resources, and markets. For these reasons, IBO seeks to partner with local, regional, national and international groups to develop detailed plans for each region. IBO also seeks the input of local stakeholders, national and regional economic and political leaders, and international monetary aid and financial development groups.
Through its Micro-Commerce Justice Initiative, IBO plays the vitally important roles of bringing necessary skills and experience together to focus on local micro-commerce development projects and creating business models under which those projects can be executed. In the role of project coordinator, IBO brings international expertise together with local and regional knowledge to bridge gaps between vision and results. In addition to the functions and factors of business development, often there are cultural, social and political matters to contend with as well. IBO’s goal is to bridge those gaps by including and honoring local and regional values while at the same time working to transcend those structures that restrict development and opportunity. To accomplish this, the IBO team conducts project feasibility studies, local engagement exercises and business plan creation. IBO also works directly to bring vital technology, logistics and marketing companies and systems together for specific projects.
