Those who are keen to know about social enterprise often find themselves confused about social enterprise ideas.
Key Points
- A social enterprise is one that aims to bring social change or is directed toward people for the sake of improving the standards of life.
- Many social ventures are organized by social entrepreneurs on the idea of “change”.
- Social crowdfunding has emerged as the go-to idea in addition to the creation of sustainable resources for the underprivileged ones.
- The rule is not to forget the basic motto of a social enterprise since many social entrepreneurs start taking advantage of the social ventures which stops the promotion of social enterprise as an idea.
What is A Social Enterprise?
A social enterprise is different from a traditional business venture. It is something that is for a social cause. Here, the end goal is to work for the cause of social welfare. Entrepreneurs over here are keen to work for the bigger cause. They want to bring a change in society with the help of their ventures.
Also Read: “20 Remarkable Words Related To Entrepreneurship in 2022”
Though a conventional entrepreneurship venture offers change as its end goal, a social business venture is entirely dedicated to the social cause. Not a single penny over here is left for the personal benefit of the creator. Everything over here goes directly to the social cause. The purpose of a social entrepreneur is to bring innovation and change into society through the way an idea propagates.
Reasons Behind The Development of A Social Enterprise
There are a number of reasons behind the social enterprise. Many social enterprises are the result of a revolution. Some social enterprises are directed to bring a major change by changing the perception of individuals. Some are announced to improve the living standards in areas where life quality is poor. Mostly the reasons behind the social enterprises are:
- Ensuring Equal Life Quality For All
This is the most prominent reason behind the success of many prominent social ventures. For those who are living deprived of social luxuries, such enterprises allow them to find the basic luxuries of life and help them to grow effectively.
- To Solve A Persistent Issue
A number of times, social enterprises are the solution to a social problem that has existed for a long time. When these problems become a part of the life of the masses, the solution becomes necessary. On that particular level, seeking benefits out of the venture is not considered right. So, what happens at that stage is the transformation of the whole problem and a solution is deduced to help the whole society.
- For Charity
This is the most common cause of a social enterprise. Charity is what attracts a number of entrepreneurs and enables them to work for a great cause. Even many leading entrepreneurs are there who love to work for charitable causes by the action of their ventures to benefit a specific part of society.
Top 10 Perfect Social Enterprise Ideas
There are various social enterprise ideas that are loved and adopted by many. Here are the ten most significant ones.
- Social Crowdfunding Services
- Baking & Cooking
- Sustainable Power System
- Social Shops
- Computer Sharing Services
- Social Loan Networks
- Charity Based Institutions
- Social Textbook Bazaars
- Social Gardens
- Reusable Clothing Stores
Social Crowdfunding Services
Crowdfunding is becoming extremely popular these days. Many people are turning their attention to this significant social venture. There might be a person who is unaware of the implications of crowdfunding. For those of you, who don’t know what crowdfunding is, let me tell you some basic precepts about it.
Social crowdfunding is an act where individuals appeal to social media or other social services to fund a particular cause. This is similar to a charity service but with the exception that it has global outreach. In the past, crowdfunding has been employed for various reasons. The best part about crowdfunding is that every individual can get easy access to this service.
GoFundMe is the biggest site where ordinary people can initiate the chain of funding. This is an example of a complete social enterprise that is directed to provide benefits to those who are making use of its services. Though it takes a small portion of the overall funds for the management of the business website, the remaining amount is handed over to those who are in need of funds.
Baking & Cooking
Baking and cooking for social causes is also a hot enterprise these days. If you are wondering how? Let me take you to all the famous bake sales and cookery fests which are arranged by various organizations after every few months.
The basic purpose behind arranging these sales is to cater to a particular need or an issue existing in society. These charity-based sales are not only efficient to meet up social needs but also help individuals to assist while they display their talents before the world.
Through the organization of these sales, many young entrepreneurs get to display their exceptional cooking and baking skills which help them in arranging ventures for their own after being a star here at these sales. Many leading entrepreneurs started their venture this way by cooking for social causes and then embracing their talent as their career.
Sustainable Power System
Though considerably new, a sustainable power system is making waves in the business world because of the deep impression of leaves on the minds of people. Electric power is a major source of energy in various places. In a number of places, this power system is totally absent on the front grounds where other disasters hit the civilization.
African states and developing nations have a lot of problems going on with the power system. Currently, many entrepreneurs are picking up this issue as they are emerging from the same backgrounds. They are looking for sources that are sustainable and can help these nations to deal with power concerns.
The sustainable power system is one such social venture which allows entrepreneurs to develop easier ways of producing power for those who are living in deprivation. This venture is deemed profitable for those who are living under miserable circumstances.
Social Shops
Though the concept was developed recently, the idea behind this is old. It calls for equal availability of resources to all. Social shops are organized in different demographics by various entrepreneurs for promoting equality and allowing people to purchase various items at reasonable prices.
These shops are arranged for specific events to benefit the local clients. The purpose of these social shops is to ensure that even the underprivileged ones get access to the latest resources at affordable or no rates at all. Most of the leading brands have organized another kind of social shop.
These brands allow their retailers to sell the products to their customers and a portion of the overall income is fixed for specific issues. Coca-Cola is among the many leading brands which started this campaign back in the 2010s and afterward many other brands are adopting this module of functioning.
Computer Sharing Services
Computers are a part of our everyday life. There is no one who doesn’t get access to the internet or computers in this age of technology. However, in certain places, where poverty graphs are high, computer-sharing social services work well.
Many social entrepreneurs operate by laying down the foundation of computer houses where the underprivileged ones can easily get access to the facility of computers and the internet. Besides, some of the entrepreneurs are also active in building computer institutes to teach the lower strata an easier and more advanced strategy while dealing with computers.
These two areas can be a good start for you to initiate your social enterprise if you are a beginner who wants to do wonders in the entrepreneurial world by hoisting the social entrepreneurship flag high.
Social Loan Networks
This venture is in the news because of its growing efficacy. In regions where economic conditions are not stable and there is a shortage of capital, starting a new venture could require a lot of capital. For this purpose, several loan-sharing social services can be initiated.
These loan-sharing services need to be different from conventional loan-sharing services in way that they allow lending under easier conditions and with no interest rates.
This can be an excellent venture not only to promote social growth but also to promote entrepreneurship as a concept. Many microfinance companies are already working to lend loans under easy conditions to ensure the growth of the economy and for the establishment of multiple new ventures.
Charity Based Institutions
If you are a social entrepreneur and want to do something big, why not educate the young or do something for their welfare? Charity-based institutions have been running in various countries for a long time but now entrepreneurship has changed the perspective on the horizon entirely.
Entrepreneurs on the basis of their talents tend to lay the foundation of several institutions, and technical centers and run them on the basis of charity. Many entrepreneurs are starting institutions for the talented underprivileged youth and training them in various areas.
In fact, many entrepreneurs have founded centers where young talent learns a number of things, and their crafts are then sold to the outside world.
This way the underprivileged youth not only learns new things or techniques but earn capital right in the institution. A portion of the benefit goes to the entrepreneurs who impart the knowledge while the rest is given to the deserving talent who created the magic.
Social Textbook Bazaars
This business area is considerably new but is working for a great cause yet again. Education is a serious matter for the whole world. The rising economic burden has also influenced the modern world.
When global inflation has taken hold of everything else, it has also seen a rise in the prices of textbooks. So, this can be a good chance for social entrepreneurs to display their craft through the arrangement of social textbook bazaars.
An entrepreneur who is an initiator of this bazaar operates in a way that he takes books or textbooks from those who are willing to donate and then shares these books with the ones who are wanting them most without any cost or a very little amount. This allows the entrepreneur to share the entrepreneurial spirit as well as to send a positive message by catering to the needs of a particular group of people.
Social Gardens
This one is my personal favorite. Social gardens are the blessings of the modern influence on ecosystems. Many entrepreneurs have started sorting out ventures which can not only benefit society but the environment as well. Social gardens are the result of their collective attempts.
People who are interested to buy plants at cheap costs from the plants displayed in the social gardens not only invest in the social cause underlying these purchases but there is more to that. Many entrepreneurs are introducing a new way to sustain the stability of the environment.
In a social garden, when people buy a plant, they are also given a seed to sow in the garden which is named after them. The idea behind this is grand which calls for the thought that for every plant which is taken away from the nursery or the garden, another plant is planted by the buyer to sustain the ecological equilibrium. Do you think of any other great idea of social preservation than this one?
Reusable Clothing Stores
This again is an old idea that has gone through a dominant modern makeover and has become a dominant social enterprise. Reusable clothing stores allow individuals to buy and donate their old clothes which are meant to help those who can’t afford clothes for themselves.
The idea is taken from our most famous thrift shop functionality, however, some basic rules differ over here. Here, you can get clothes of your choice by donating a set of your old clothes or at a bare minimum. For those who are very poor, this service works for free. This way clothes can be used again and again which also helps to cater to the need for clothing.
Conclusion
Social enterprise ideas have one central purpose which needs to be maintained in all the ventures one set forth. The idea that a social venture is for the people should be promoted.
A true social enterprise is one that helps individuals to achieve the end goals which they lay down in front of them. If a venture is just out there catering to no particular needs but has been altered into a profit-gaining idea, then the spirit of the social enterprise remains unfulfilled.
The author is an M.Phil scholar conducting her thesis in Literature. As a sucker for literature, she swoons over Greek and South Asian fiction while reviewing books in her spare time. Her love for writing has made her expand her subject matter and now she pens her opinions frequently on business, finance, entrepreneurship, lifestyle, history, and literature. For a special connection with entrepreneurship, she opens up the details occasionally about it.