Social Entrepreneurship Opportunity
Typically, opportunities
in social entrepreneurship are based on the need to create social value which
benefits the local community. A social enterprise usually does this by solving
a problem or providing assistance in an area of need or disadvantage.
Therefore, creating
social value and not wealth is the main driver for social entrepreneurs.
Additionally, they need to achieve financial stability to maintain
value. Here is a quick glimpse at the market niches which have many social
enterprises:
- Social enterprises which serve the financially poor population. In these markets, the profit margins are very low and the risks are high. Further, in certain sectors like microfinance, there is a constant debate as to whether a commercial operation can fulfil the needs of the poorest client groups more effectively than modified NGO models. In this niche, some examples of social entrepreneurship organizations are micro-clinics in low-income zones, affordable irrigation tools to poor farmers, etc.
- New and challenging markets where the entrepreneur is required to incur heavy expenses to stimulate demand and create opportunities. This is due to the prevalent stigma and the challenges faced in acclimatizing people to newer and more complex technologies as well as challenging perceptions about certain services which need to be provided by the state. Some examples are offering counselling services to people living with HIV/AIDS or other socially marginalized groups, microinsurance products for farmers, etc.
- Markets for products which offer environmental benefits but are not fully commercially competitive. Many environment-friendly business lines are completely commercially viable. However, there are many others which are suitable for hybrid social entrepreneurship.
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