Social Business Starters on the Rise
Social entrepreneurs – people who create start-up companies that would help the environment, health-care or agriculture – are on the rise. These entrepreneurs use innovation to tackle important economic and social problems. They can be for-profit or non-profit entities.
Funding for social entrepreneurs is increasing. This is coming from foundations, institutional investors and individuals. Globally, interest in socially responsible investing is growing even faster. The 2014 Global Sustainable Investment Review said that between 2012 and 2014, global assets rose to $21.4 trillion from $13.3 trillion – an increase of 61 percent.
Getting rich is not the primary aim of social entrepreneurs. Instead, their focus is on fulfilling their mission to improve society. While profits are ideally generated, the main aim is not to maximize financial returns for shareholders, but to grow the social venture and reach more people in need.