Introduction: Social Enterprises Development Ecosystem
In the present day era, when we are aiming towards a ‘5 Trillion Economy’ and have a vision where we see our nation standing among the developed nations, then it becomes indeed vital for us to create a conducive Social Enterprises Development Ecosystem. As, it is only through the development of the communities at the grass root level, the people can actually feel empowered and when every section of the people are empowered then a nation achieves development in all true sense. Interestingly, in the past few years the social enterprises have become an increasingly popular as part of the development programs in India!
Also Read: Progresses Made By The Human Civilization
Well, a social enterprise is a business that aims to achieve a particular public or community mission (social, environmental, cultural or economic), and reinvests the majority of its profits into achieving that mission. Establishing the social enterprises is becoming a trend in society as it is considered to be an agent of change and has a significant role in community development. Social enterprises trade to tackle social problems, improve communities, people’s life chances or the environment. They make their money from selling goods and services in the open market, but they reinvest their profits back into the business or the local community. Therefore, when they profit, society profits.
Also Read: An Overview Of Cloud Kitchens
Functioning: Social Enterprises Development Ecosystem
Social Enterprises have their own way of functioning; they start by choosing a social problem rampant in a particular area. The scope can encompass a small community, a town, or a whole country. Once this social issue has been identified, social enterprises look for the roots of the said problem. This can be done through market research. A community needs assessments, survey reports, field analysis, and observation method. Once they are certain with the causes, social enterprises try to link it with the current societal patterns and trends. This way they can come up with ideas, which can help them address the societal issue they have identified. These strategies should make sure that it would bring a change in the society’s attitude and lifestyle to answer the said problem. Afterward, these social enterprises make sure to create a team of change makers with similar advocacies and goals. This action step can help them attract more funders who can help them achieve their primary objective.
Also Read: Indian Real Estate Investment Market In 2022
Roles in Community Development
Social enterprises provide a significant impact on community development. Some of the vital roles of the social enterprises are discussed below –
- Social enterprises offer a community with a sense of purpose. These enterprises tap most locals as a way to both provide income for them and answer the call of change in their community. By engaging themselves in this kind of social action, they can bring fulfilment to their hearts.
- Communities feel more interconnected to their fellow residents once they immerse in social enterprising. Establishing a social business like this requires a considerable number of people. Hence, collaboration is needed to be able to sustain the social enterprise in their rural communities.
- Social enterprises are also considered as a tool to develop the locals’ skill sets. This business covers a lot of areas like finance, problem solving, creativity, technical work, risk management, and more. They are faced in a challenging environment. The learnings they get from here can then be used to further community development initiatives.
- Establishing social enterprises also opens the eyes of communities to the realities of the world. Familiarizing themselves with these issues inspires them to take action into the improvement of their respective communities.
Written By NEEL PREET – Author of the Books, Voice From The East (2016); Journey With Time Place And Circumstances (2018) & Indian Defence Files (2021).
