Social Entrepreneurs (SE) play a significant and unique role in creating change in a country’s economy. The role played by SE’s is often difficult to measure because there is a systematic social change over the period of time. Social Entrepreneurs, according to Schwab Foundation, helps to create partnerships, improved visibility, easy access to funds and an increased knowledge of global affairs. This enables many political and business leaders to set up social funds and start social activities within their enterprises.
Social Entrepreneurship – Encompassing A Wide Range of Activities in the economy
Social Entrepreneurship, often recognized as the nonprofit sector, is expanding around the globe. European Economic and Social Committee state that,” Social Entrepreneurship is a key element of the European social model and is closely linked to the EU 2020 strategy to make significant contribution to the society.” With a wide range of activities, SE works for the following ways.
- Social business ventures dedicated to work for profit motivations to the nonprofit sector
- Entrepreneurs making a difference in the society
- Different SE supporting ‘investment’ portfolios
- Nonprofit organizations are reinventing themselves by drawing on lessons learned from the business world.
What do Social Entrepreneurs need?
While Social Entrepreneurs work to attain sustainable development hurdles are natural. In order to achieve overall growth, Social Entrepreneurs need to do have access to resources. Here is a look at some of the ways SE’s can perform better.
– You need more fuel to achieve sustainable development – SE’s need to have money and investments bring in that.
– Subsidies and grants in regulatory structures and favorable legislations can help SE’s undertake more projects
– Access to better information means access to better data and easier working
– New opportunities to coordinate work effectively can be achieved with better coordination
– Attracting new entrepreneurial entrants though recognition and visibility is important.
The MED programme brings the edge amongst social entrepreneurs who play a vital role in creating sustainable development.
