What is Social Entrepreneurship?
Social entrepreneurship is a kind of entrepreneurship where you make a profit, but you seek to use the profits to improve society.
If you want to do more than just earn profits for yourself and accumulate more things for yourself as a business owner, then social entrepreneurship is for you.
Think about the causes that interest you the most and then build your business on it. Here are some creative ways to get involved in social entrepreneurship.
Invest in The Lives of The Next Generation
Idea: Restaurant Business
If your background is in culinary arts, you can open a restaurant that hires at-risk youth in your city. This restaurant will teach the teens not only how to prepare meals for customers, but other life skills as well. You can hold financial literacy classes during the summer when teens are out of school so they can understand how money works and they can learn to be financially independent as adults. Use your profits to offer training to the employees.
Idea: Crowdfunding Business
Start a crowdfunding website if you have a desire to assist others with funding their businesses. This is especially a good idea if you have tremendous assets to start the company with. You would have the general public sign up for a paid membership with your site and this allows them to participate in giving funds to those who need financial assistance for certain goals. Crowdfunding is a form of peer-to-peer lending.
Assist Struggling Families With Their Goals
Idea: Computer Rental Business
Another idea is to start a computer rental service and use the profits from your business to purchase new computers for low income families who cannot afford to get computers for their children. Students face a global economy that requires the use of technology, so when you buy the computers for low income families, you help kids and teens prepare for a better future and financial independence.
Idea: Medical Clinic Business
Those with a medical background can start a low cost clinic in the community and use the profits to provide free medicine samples, personal hygiene products, and medical equipment for the disabled and seniors in your community. Healthcare has gotten expensive over the years and your clinic can offer a glimmer of hope for others.
Idea: Low Income Housing Business
If low income housing is scarce in your city, and the local housing authority is no longer taking applications from those seeking Section 8 vouchers, then you can secure funding to build an apartment complex for low income families to live in. You can charge the families rent based on their current income and the rent you collect each month can be used to place in a special scholarship fund to help deserving students attend college.
You Can Make a Difference
In conclusion, we can complain about the social problems that plague us, or we can step up and get proactive. Whether you’re a business owner or nonprofit director, you have the ability to shape lives, even if you possess minimum resources. With your contributions, you can improve the lives of those around you.