Social Entrepreneurship is Important

This year, Muhammad Yunus, founder of Grameen Bank was awarded the Nobel Peace Prize. His contribution to society? The idea of microcredits, which are very small bank loans given to the poor to help them develop their own businesses.

It should be pointed out that Grameen Bank has been very successful making money from microcredits. They’re not a non-profit organization. But in many ways that’s precisely the point; you can help and make money at the same time.

Some might argue the moral implications of getting rich off the poor, but Muhammad’s goal is to help the poor rise up with opportunities they would have never had. And that’s gotta be inspiring for every entrepreneur out there.

It’s all about social entrepreneurship.

The idea behind social entrepreneurship is that people find opportunities to create and develop businesses designed to help remedy a social problem and be successful financially. A social entrepreneur won’t measure success solely by profits, their contribution to society is what really matters.

The idea of blending money-making and helping is powerful, and opens up all kinds of ideas and possibilities.

Social entrepreneurship isn’t new. There are examples dating way back, but there’s no question that it’s taking hold as a movement today. And it makes sense. People recognize that donations and hand-outs can help but they don’t really solve problems. Creative, successful people are looking for ways to help, and applying their expertise, energy and inspiration to solve social problems will be more successful than another aid concert or donation drive.

I’m not saying you shouldn’t donate money. Please do. Pick one of a million causes this time of year and help someone.

But for the entrepreneurs among us, there’s a better way. We need to find ways of creating businesses that help. There’s always a better way of doing things, and entrepreneurs are there to find those ways. Entrepreneurs solve problems and attack them with vigor. Social problems like poverty, hunger, poor education, health system meltdowns, etc. need the help of entrepreneurs.

Social entrepreneurship is not about taking some of the money your business earns and giving it to charity. Yes, that helps. Do it. But social entrepreneurship is more than that. And after charities make what little dent they can, and government bumbles around as ineffective as they usually are, who steps up to the plate?

Social entrepreneurs.

I want to be a social entrepreneur. I have to find a way. I hope you’ll take a look too and use your genius to help.

Go check out these resources on social entrepreneurship:

• The Skoll Foundation
• The Canadian Social Entrepreneurship Society
• Ashoka