Social entrepreneurship, using business practices to help solve a social problem, is a topic that is dear to my heart. It has been the focus of my business activities and ideas for the past few years.
There are many examples of social entrepreneurship, or as I am phrasing it in an upcoming class for my students, making money while making the world better. Social entrepreneurship is different than a charity. Social entrepreneurship is for profit. The easiest method is to donate a percentage of profits to an organization that is resolving an issue that is important to you. However, there are many, more creative approaches.
Tom’s Shoes donates a pair of shoes to a child in need for each pair purchased. Buy a pair and a pair is donated. Jaipur Rugs, located in India, helps over 40,000 rug makers earn a living. In some ways, Etsy, fits this model. Many social entrepreneurship entities fit this model where a collective concept is used to help many poor people or small independent businesses survive. In many countries, collectives are created to help women earn a fair wage. Kiva is an excellent website that allows you to make micro donations that help support this model and small solo businesses.
There are many other examples of social entrepreneurship. A future post will include my presentation for my class. Certainly, feel free to share other social entrepreneurship examples with me.