A social entrepreneur is a person who wants to bring a social change or revolution by adapting new measures or methods to solve the ongoing problems in society. They come forward to take the initiative for a good cause and take several risks in the process. All of this is done in the form of a business that has its aim beyond financial profit. It is not that a social entrepreneur does not focus on gaining profit from the business, but both aspects of gaining profit and bringing a positive change and impact are co-related and balanced.
What is socially responsible investing or SRI?
Social responsible investing refers to making investments in a company that is taking or adopting measures to better society. These companies are conscious and aware of adapting positive aspects like promoting economical products, keeping ethical and social well being in mind trying to set norms and ideas to eliminate discrimination or persisting inequality.
What is environmental, social, and governance investing or ESG investing.
Any company that considers environmental and social aspects for their business comes under ESG investing. These services or products look forward to growth opportunities through the non-beneficial factors. These businesses take risks for a positive initiative and the community’s well being.
Why should you consider community development?
Considering the benefits from community development, the first thing to keep in mind that it is a selfless approach where you are thinking about others more than yourself, so benefits may not be in the form of finance or money. Rather than this, it is more about social development and bringing a change and revolution in the market and helping people understand the positive aspects of the service. Furthermore, the social entrepreneurship businesses are moving towards the mainstream business; hence this denotes that the reach of these businesses have become very wide and is capable enough for bringing the change.
Examples and initiatives that one can think about –
- Employing the poorer section and capable people
- Various educational programmes
- Special loan services for the needy and small businessmen
- Environment-friendly products like energy-efficient stoves, no animal exploitation, organic clothing.
- Organic clothing and herbal beauty products have become the new trend many influencers promote to use herbal products and vegan makeup products. These cruelty-free products are a great initiative towards our love and care for other living organisms.
The internet is a fast mechanism to spread these ideas and initiatives. There are many other ideas that one can begin with. These organizations can prove to be a lifesaver for many by providing them with opportunities. This helps to remove poverty and liabilities from the society where everyone can live with dignity, pride and honour without having to depend upon others for necessities like food and shelter. This helps an individual to regain confidence and become self-dependent. These can also be an environment saviour in the long run by saving different animals and preserving nature.