![]() ![]() Reid believes the social entrepreneurship model will play an increasingly large role in businesses of the future. It’s something that is a huge benefit and a competitive advantage.” “People are really flocking to those companies and really want to work for, support, and stay with these companies. “One of the biggest benefits that we’re seeing is employees wanting to work for an organization that has a purpose behind it,” says Reid. This type of business model can often help you stay ahead of the curve in terms of government regulations, and in attracting and retaining employees and customers. “It looks at a lot of different areas such as governance, workers, community, customers, and the environment, and within that there are impact business models, so if an organization is curious about how to initiate this-it’s definitely a place to start.”īeyond aligning the work you do in your business with your values, social entrepreneurship can also be a competitive advantage. Completing the assessment will provide you with a baseline which can help you quantify your impact in relation to your goals. How to get started with social entrepreneurshipįor entrepreneurs looking to test their interest in using, or moving to, a social entrepreneurship model, Reid suggests completing the B Corp Impact Assessment. These entrepreneurs weave this social and environmental focus into the core of their business, and as a result track the social value and environmental impact generated, alongside the profit created by the company. improved health outcomes for members of the community.the minimization of the company’s or industry’s impact on the environment.the elimination of homelessness in the community.reducing barriers to employment for disenfranchised groups/individuals.Social entrepreneurs may target social issues, for example: ![]() It’s using your business as a force for good, looking at the company’s role in this world and the ways the business can influence positive change,” says Michelle Reid, Advisor, Corporate Sustainability and B Corp, BDC. “Social entrepreneurship is really about developing business opportunities that have positive impact. Where the traditional model has largely focused on the generation of profit, social entrepreneurs focus on bringing about positive social and environmental change, while also generating a profit. Social entrepreneurship is a business model used by companies to help solve some of the world’s greatest problems. Growth & Transition Capital financing solutions Kauffman Fellows Program Partial Scholarship Venture Capital Catalyst Initiative (VCCI) Industrial, Clean and Energy Technology (ICE) Venture Fund ![]()
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