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Social Entrepreneurs: Who Are They?
Social entrepreneurs are people who create startups to address social and environmental issues. Although all entrepreneurs employ similar venture building strategies, social entrepreneurs differ from traditional entrepreneurs in one key way…
How Are Social Entrepreneurs Different?
The key difference between social entrepreneurs and traditional entrepreneurs is in how each type of entrepreneur measures success.
Traditional entrepreneurs measure their success with financial metrics, such as revenue and profit. Along the same lines, a traditional investor is typically only concerned with financial return on investment (ROI).
On the other hand, social entrepreneurs measure their success with environmental and social metrics, as well as financial ones. These metrics depend on the nature of the social enterprise, but examples include:
- CO2 emissions offset
- Acres of farmland sustainably managed
- Kilowatts of solar power installed
- Low-income students educated
- Jobs created for felons
Impact investors specialize in providing capital to social entrepreneurs. Their metrics typically align with those tracked by social entrepreneurs. Along with financial ROI, Impact investors seek environmental, social, and governance (ESG) returns.
Social entrepreneurs are a specialized segment of traditional entrepreneurs.
Examples of Social Enterprises:
Here are some examples of social enterprises:
- BizGees: BizGees supports refugee entrepreneurs. They do this by facilitating crowdfunding campaigns and providing interest-free micro-loans for refugee entrepreneurs. BizGees is committed to financial inclusion for refugees through alternative finance methods.
- Be As You Wear: Be As You Wear sells clothing to fund investments in youth who are at risk for dropping out of life or failing out of school. They provide 40 hours of referral, transportation, and intervention service/month to families who struggle to access therapeutic services required for their wellness.
- Dreamer & Co: Dreamer & Co empowers women to flourish by partnering with female jewelry artisans in the Horn of Africa to sell their hand-crafted products to conscious consumers in North American markets. Their ecommerce business model generates revenue to train and employ jewelry artisans who would otherwise lack economic opportunities. This high-impact supply chain structure empowers the artisans to build in-demand skills and support their families.
Learn More about Social Entrepreneurship with Our Free Online Training
Social Impact Startup: Online Social Entrepreneurship Training
Design Impactful Solutions as a Social Entrepreneur!
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