What Is Social Entrepreneurship?

Social Entrepreneurs Are World Changers!

Social Entrepreneurs are ordinary people who find innovative solutions to society’s social problems. They use traditional entrepreneurial models to bring social or community benefits. Social Entrepreneurs often have a personal experience of the need they are addressing and as such they are uniquely positioned to address some of our most pressing social challenges. They are passionate, driven and committed.

The recognition of Simon McKeon as 2011 Australian of the year has brought the term “Social Entrepreneur” in the national conversation. From the presidential campaign of Barack Obama to grassroots organisations, the concept of social entrepreneurship has received a lot of attention in recent times. It has been touted by many as the means of bringing real and lasting change to a broken and hurting world.

Finding innovative new solutions to the world’s biggest problems is quietly becoming the most powerful business model of the 21st Century. Social Entrepreneurs often go where Non-Profits and Government Organisations can’t go due to lack of funds, organisation and innovation. Tackling global issues like poverty, malnutrition, clean air and water, and health care are foundational to an exciting new business strategy for changing the world called, Social Entrepreneurship.

The pure magnitude of providing solutions to these types of problems have the world’s leading policy makers proclaiming that social entrepreneurship will become the most purposeful, profitable and relevant business model of our time.

Social entrepreneurs dedicate themselves to solving the world’s biggest challenges through innovative new solutions and purpose-driven organisations. Social entrepreneurs leverage both the cash flow and technology-based solutions of their for-profit enterprises by linking them directly to existing not-for-profit organisations to create a new model for sustainable global change.

The better they are at connecting the benefits of their solutions to the hearts and passions of the public sector, the greater their impact on the world will be.

While entrepreneurs in the business sector identify untapped commercial markets, and gather the resources to break into those markets for profit, social entrepreneurs use the same skills to different effect. For social entrepreneurs, untapped markets are people or communities in need, who haven’t been reached by other initiatives.

But while they may read from a different bottom line, social and business entrepreneurs have a lot in common. They build something out of nothing. They are ambitious to achieve. They marshal resources – sometimes from the unlikeliest places – to meet their needs. They are constantly creative and they are not afraid to make mistakes.

Social Entrepreneurs = Big Heart, Big Dreams, Big Solutions, Big Change!

“Concern for man and his fate must always form the chief interest of all technical endeavors … Never forget this in the midst of your diagrams and equations.”  Albert Einstein

As social entrepreneurs, our purpose is to bring about change in the world and to make a difference in the lives of others. Through developing new skills and acquiring knowledge, we equip ourselves with the necessary tools for facilitating this change.

Social Entrepreneurship
You may not be familiar with the phrase “social entrepreneurship,” but it’s quietly becoming the  most powerful business model of the 21st century. It’s an exciting new business strategy that tackles global problems such as poverty, malnutrition, clean air and water, and health care.

In fact, this new initiative has the world’s leading policy makers predicting that it will not only become the most purposeful, profitable platform of our time, but also a revolutionary paradigm shift for sustainable global improvement.

While all of this may sound lofty and unreachable, it’s absolutely not. Because we’ve got an easy, seamless, dynamic way for you to join us as we set out to change the world.

Social Entrepreneurship – The Best Of Both Worlds

How is Social Entrepreneurship Different from Business?

A Social Entrepreneurship is, first and foremost, a business. That means it is an organisation engaged in the trade of goods, services, or both to consumers, but it trades primarily to support a social purpose (not profits for shareholders!). Like any business, it aims to generate profit, but it reinvests those profits in the business or in a social cause. It is, therefore, not simply a business driven by the need to create profit for shareholders or owners. 

Social Entrepreneurship is committed to commercial viability but the prime motivation is building a better society and finding a solution to social problems.

Like business, Social Entrepreneurship is diverse. They include local community enterprises, social firms, co-operatives, and large-scale organisations operating locally, nationally or internationally.

What they have in common is a commitment to meeting a social and financial bottom line. Because they have to meet both financial and social ‘bottom lines’ this can create tensions and conflicts other mainstream business may not face. Social Entrepreneurship can be built to meet all of an organisation’s financial needs or it can be part of a broader income strategy. Their profits can be matched with a combination of philanthropy, government subsidy, corporate donations and self generated income.

How is Social Entrepreneurship Different from Traditional Charities?

• It’s about economic sustainability. SE’s aim to become financially secure through business rather than being dependent on grants, sponsorships, or donations.

• It’s a business. SE’s keep a market–based ‘business focus’ with a financial as well as a social bottom line (and sometimes an environmental one too!)

• It’s about a hand-up – not a hand-out. SE’s aim to build the abilities and skills of individuals and communities.

Social Entrepreneurs combine traditional business strategies to bring about the social change of Charities. In doing so, they create a powerful business model, that will bring about sustainable global change to the world's greatest problems.

When answering the question of “Where should social entrepreneurs begin?”, David Bornstein, the author of  “How to Change the World: Social Entrepreneurs and the Power of New Ideas”  had this to say: ” Before starting out on their own, they often work in jobs that teach them how a particular type of business or industry operates. They usually work for several years in a particular field, profession or organization, acquiring the knowledge, skills and contacts that enable them to branch out on their own.”