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Social Entrepreneurship Definition

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Social Entrepreneurship – A Dawning Dimension of Social Change

Social entrepreneurship although relatively a new concept is an emerging trend all over the world. Social entrepreneurship today, at its early stages of evolution, is often not clearly understood by all. Social Enterprises refers to organizations that enhances growth in human as well as environmental well-being through the application of commercial strategies. Social Enterprises are about products and services like any other business, just that they have a deliberate purpose of creating jobs for the poor and have clear aims of improving standards of living; and it is becoming clear that Social Entrepreneurship is an effective way to leverages on entrepreneurial principles to …show more content…

They provide several opportunities for various non-profits with income-generating activities to help enhance and sustain their products or services.

Furthermore, for several rural small businesses and entrepreneurs with a social mission, a social enterprise model provides enabling environment. The Social Entrepreneurial approach enables them to run a viable business as well as to fill the gaps in rural social and environmental services. In distressed economies, businesses with a social enterprise model could explore and grow market opportunities that may not exist if otherwise.

Social Enterprises provide various benefits to businesses aiming to face social and environmental challenges. It helps out organizations in accomplishing financial independence and improves their ability to achieve their aims as well as to make themselves more attractive prospects for aids and donations.

However, there are social enterprise advantages that are environmental, people and societal specific such as:
 Cost effectiveness: This is another benefit offered by Social Enterprises in form of either goods or services which is more reasonable when compared to the same service rendered by a profit making …show more content…

About 91% of global consumers stated that they would probably switch to a brand that is associated with a good cause, according to Entrepreneur.com. This upholds the claim about rise in popularity of social entrepreneurship. Another significant data to confirm this emerging trend comes from the UK, in which Social Enterprises are classified as ‘Community Interest Company (CIC)’. In the year 2011, under the national survey carried out in the UK, 14 percent of the social enterprises stated that they were two years old or younger. And according to Social Enterprise UK, approximately 68,000 Social Enterprises contribute in the UK -- a total of £24,000 to

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