5 reasons why social entrepreneurship matters (4 of 5)
- A social mission to make the world a better place
Going by the motto “do well by doing good”, social value and social change are at the heart of any social enterprise operation. Money profit becomes just a tool for entrepreneurs to accomplish people-centred goals. Certainly, social entrepreneurship is more than an economic activity –it gives society positive world-changing solutions at a time when we need them.
Social entrepreneurship matters, therefore, because it maximises social benefit. Entrepreneurs from the third and the forth sector consider it their obligation to give back to the community. And to do so, they find unique ways of creating sustainable solutions to either global or local pressing social issues such as healthcare, homelessness or child labour.
- A more responsive business to create economic and social value
This fast-growing sector can solve social problems and exploit new market opportunities more responsively than traditional businesses. Social enterprises do not rely only on the priorities of governments and that is why they can respond to social problems more efficiently. Plus, not depending on limited funds from official institutions make it easier to meet the needs of our society.
What is more, being change agents for the community and significantly contributing to the global economy, social entrepreneurs deliver solutions in a way the State does not. This is also why social entrepreneurship is important –it offers alternative solutions when the administration is not acting effectively to supply the urgent needs.
- Relationships beyond economic purpose
Social enterprises also have the ability to build strong relationships between individuals in social and economic networks. As opposed to traditional commerce and other business connections, social relations facilitate exchanges that are nourished mainly by informational and emotional support provided not only to people in need but also to the entrepreneurs.
By the same token, sharing information and resources amongst communities can be beneficial to similar social groups from different parts of the world. For instance, international humanitarian initiatives like fair trade have proved that social entrepreneurship can also help create networking opportunities between two or more countries and reinforce those who are being economically and socially marginalised.
- An example to all
The increasing impact of social enterprises on society over the past decade shows the great potential the sector has today. But what is also interesting about social entrepreneurs is that, with their actions, they can call public attention to some of the problems our society is currently facing and raise their voice for justice.
Besides its ability to provide solutions to many social issues, social entrepreneurship can also cause a domino effect and inspire others to work in social business as well. In fact, large corporate organisations are increasingly investing on the humanitarian field after they have realised that enterprises can be both socially and economically profitable.
- A refreshing business in changing times
In a time of constant and global change, the way businesses operate also demands a breath of fresh air –an economic sector that can offer what we desperately need in terms of health care, education and employment. Through the use of cutting-edge technology, social entrepreneurship finds innovative strategies to deliver efficient public services and strengthen the economy. In fact, social enterprises are familiarised with mobile technologies and social platforms, which are revolutionising how companies connect with clients and how they make a difference.
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