Social Entrepreneurship is defined as “the use of start-up companies and other entrepreneurs to develop, fund and implement solutions to social, cultural, or environmental issues.”
The idea of social entrepreneurship has grown in popularity, mostly because younger generations are increasingly focused on making a positive impact. However, before it was big in pop culture, I read a book that changed my life.
That book was called A Billion Bootstraps, and it inspired me and David Briggs to start Tricord Global. In today’s blog post, I am going to help you understand social entrepreneurship and why you should consider it for your business!
A Positive Return for Society: Social Entrepreneurship
How Social Entrepreneurship Works
Basically, social entrepreneurship combines capitalism and social good. For example, with Tricord Global, we give out micro loans so that people in developing nations can begin or grow their business. This allows them to create a living for themselves so that they don’t have to be reliant on donations or charity. We are helping alleviate poverty by teaching our clients to fish, as opposed to simply giving them fish for a day.
Another example is the Little Market. They are a fair-trade company that sells handmade products from artisans around the world. The artisans often live in developing nations, and are able to make stable wages because of the online store.
Social Entrepreneurship & You
This may all sound great for other people, but what does it have to do with you? Well, I encourage you to look into social entrepreneurship and maybe adapt it for your business.
In last week’s blog post, I taught about the purpose of wealth. See, I believe God wants us to be wealthy. However, I don’t believe He wants us to be greedy with it. I believe He wants us to use our wealth to give back to the Kingdom of God. I believe He wants us to help others, and make an impact in the world.
Eve Blossom, CEO of WE’VE told Forbes, “The most fulfilling goods & services help us live in concert with our values.” If you haven’t read that article by Forbes, I encourage you to do so after you finish this post.
Business now isn’t just about how much money you make. The more we do to have an impact in the world, the better off we all are.