Entrepreneurship is the processing of designing and starting a business venture to provide products, services or process for sale or for hire. However, social entrepreneurs focus on benefiting the society, especially from the marginalized area to improve their social and economic status. They are always determined to break ideologies that may constrain development in the society.
What is Social Entrepreneurship?
Social entrepreneurship is technique applied by entrepreneurs to develop, fund and provide solutions to economic, social or environmental problems. The aim of social entrepreneurs is to develop innovative, practical and sustainable approaches that benefit marginalized and poor people in the society. It cuts across all areas of discipline and sectors that are common in the society like education, health, economic, agriculture, welfare, workers rights, environment and many other areas that affect our social life. This sector is growing very fast and it is also attracting attention from other sectors. The social entrepreneurs are different from other entrepreneurs since they dedicate their lives to improve the society.
Here is a more in-depth video about Social Entrepreneurship.
6 examples of successful social entrepreneurship include:
Amul was founded in 1946 with the help of Tribhuvandas Patel and Verghese Kurien. They wanted to help local and marginalized milk traders in India to form their own cooperative. This cooperative turned out to be so successful that it was replicated in India in 1965. So far they have managed to create a source of income for local farmers in India. They also produce food products for customers that are a good value for money.
Fifteen was formed in 2002 by an English celebrity chef called Jamie Oliver. Its aim was to offer skills to disadvantaged youth aged 18-24 on how to improve their lives through the art of cooking.
So far they have trained 220 young locals in cooking and hospitality. They also inspire them to pursue careers in restaurant businesses after graduation.
Ladakhi Women’s Travel Company is a travel agency started by female travel guides and trekkers in 2009.
They encourage women to find work as tour guides in their home areas as a way to improve the economy. They also encourage women to prove that they also talented in the tourism industry.
Three Famous Social Entrepreneurs and what they are doing
Social entrepreneurs are good at tackling social issues while generating profits. Examples of famous social entrepreneurs are:
Rachel Brathen is a young yoga girl and a New York Times bestseller books. She has an Instagram account with 1.6 million followers. She shows her audience fresh yoga poses and tips. She connects teachers with the online community who require healing. She has an online channel called oneoeight.tv, which offers health, meditation, and yoga services. And she believes social media can become a social mission. She also runs a social conscious website called 109 World which aims to solve global issues like food security, pollution, gender inequality, and water.
Mycoskie is the founder and chief shoe giver of TOMS Shoes. He invested $300,000 in the company. TOMS donates a pair of shoes for everyone that is sold out. And he has expanded the one for one initiative to support water, birth, sight and anti-bullying campaigns. Through his brand, he has raised awareness of global poverty and health. The organization has so far provided 35 million pairs of shoes to developing countries and 67,000 weeks of safe water. The TOMS eyewear program has restored the eyesight of 325000 people by giving them prescriptive glasses and sometimes surgery.
Scott left New York City for West Africa to volunteer in hospital ship charity called Mercy Ships. With lack of clean and accessible drinking water, he founded charity: water a non-profit organization. The organization provides clean water to 24 countries across the globe. He is among the most successful social entrepreneurs and in 2014 his charity: water raised $43.4 million. The organization gives away 100% profit to
In this video, you can find the 5 Keys to Success as a Social Entrepreneurs
Some of the twitter accounts to follow about social entrepreneurship are:
– Scott Harrison
Scott is a must follow and he shares his story and the vision of his charity as well as efforts on (@scottharrison) and Charity: water (@Charitywater)
– Mark Tercek
(@MarkTercek) who is the founder and president of an organization which protects ecologically essential lands called, The Natural Conservancy
– Steven Koltai
(@skoltai) started the Global Entrepreneurship Program and he also founded a consulting firm that assists startup to provide solutions that are essential for communities across the globe.
– Tammy Tibbetts
(@tammytibbetts) is the founder of she’s The First (@shesthefirst) that supports girls education across the globe. Her twitter account gives advice to people who want to start their own social businesses.
In general, Social entrepreneurship does not generate profit to benefit stakeholders but they maximize their returns to reach more poor people and to grow the social venture.