The Term Social entrepreneurship is a way by which startup companies or entrepreneurs, fund development, and implement solutions to social, cultural, or environmental issues. This concept applies to a wide range of organizations that vary in size, amount of capital, and beliefs. Usually, Social entrepreneurs develop Social innovation and Social entrepreneurship and combine profitability goals with a positive return on society. Entrepreneurship opens up new opportunities for both social and economic growth. Social entrepreneurship is the process, and education on social entrepreneurship is essential as it affects students’ business aspirations as well. Students can develop original, imaginative ideas and approaches to assist resolve these societal problems.
An entrepreneur as successful social entrepreneur is a person, who explores enterprise and business opportunity that has a positive impact on their community,
The entrepreneur brings along something new, a new source, says Schumpeter. Social entrepreneurs are trying to predict, and creatively respond to future problems and often face difficulties in finding the right problems to solve.
Goals of social entrepreneurship
Community entrepreneurship is an innovative global attempt to advance broad processes and goals that are linked to the voluntary sector, for example, social entrepreneurship in areas such as poverty alleviation, health care, and social issues. Sometimes, for-profit social enterprises are created to support the social or cultural goals of the organization but are not an end in entrepreneurship.
Social Entrepreneurship Program can support the aspirations of students who wish to pursue entrepreneurship as a job and a way to contribute to the economic development of their country
Challenges facing social entrepreneurs at social entrepreneurship
First: – Social entrepreneurs anticipate future problems, address them, and respond to it to identify the right problems to solve. Social entrepreneurs deal with hypothetical or invisible issues such as overpopulation, unsustainable energy sources, and food shortages. Basing successful social businesses on mere potential solutions can be nearly impossible because investors are less willing to back risky ventures.
Second: – In social entrepreneurship: the wage gap. Elkington and Hartigan, note that the salary gap between business and social enterprises remains the main factor in the room, limiting the ability of social enterprises to achieve long success and viability.
Third: – Social entrepreneurs often usually aid those least able to pay for it. Social business is like charities, which depend almost entirely on donations and outside funding.
Social entrepreneurship and appropriate technology
The rise of open-source appropriate technology, as a sustainable development paradigm, enables people all over the world to collaborate on solving local problems; also a social entrepreneur organization can get hundreds of employees (paid or unpaid) from across multiple countries to collaborate on joint online projects, developing a business plan or a marketing strategy for a social entrepreneurship.
These open-source websites’ techniques help social entrepreneurs to disseminate their ideas to broader audiences, help with the formation and maintenance of networks and help to link up potential investors, donors, or volunteers with the organization. This will enable social entrepreneurs to achieve their goals with little or no start-up capital.
Promote and support social entrepreneurship in urban areas
Supports social entrepreneurship in urban areas with a focus on social or environmentally sustainable development, will strengthen existing strategies in emerging companies that are suitable for Mediterranean countries, in addition, that it will direct entrepreneurial energy towards sustainable and integrated development. United Nations Development, in urban areas, is of particular importance to change and develop sustainable, livable, and more resilient cities in the long term. The vitality of the social and environmental systems of social entrepreneurship contributes to change and the development of innovative solutions that have a positive impact on the negative effects of climate change. An enabling ecosystem supported by public authorities is needed to ensure that potential entrepreneurs, especially innovative students from universities, can turn ideas into actual businesses.
Center for social entrepreneurship.
Create the idea of a Center for social entrepreneurship social Impact is due to social entrepreneurship enhancing competitiveness, community entrepreneurship, and reducing the size of huge problems in poor countries, such as climate change and food security problems. Building school and student undergraduate teaching on social entrepreneurship for sustainable development.
In their book The Emergence of Social Enterprise, two European authors Borzaga and Defourny assert that the idea of social entrepreneurship originated with the notion of social economics, which took the shape of cooperative mutual aid societies in France in 1970. Others claim that Bill Drayton’s establishment of Ashoka in the 1980s, a grant-making organization that supports innovators and their ground-breaking approaches to social challenges in the United States, marks the beginning of social entrepreneurship.
Then governments and scholars regard entrepreneurship as a vital activity that encourages the formation of small industries, these industries can provide opportunities for jobs, cheap products, new possibilities, and services for their citizens.
The boldness and resiliency of social entrepreneurs are possibly their most crucial qualities. They can stand up for a cause and take risks that others wouldn’t. They can overcome challenges and setbacks to bring about social change for as many people as possible, as rapidly as they can.