Advantages of a social enterprise that are entrepreneur specific like:
- Social entrepreneurs find it easier to raise capital. There are huge incentives and schemes from the government for the same. since the investment industry here is ethical, it is easier to raise capital at below market rates.
- Marketing and promotion for these organisations is also very easy. Since a social problem is being tackled with a solution, it is easier to attract attention of the people and media. The degree of publicity often depends on the degree of uniqueness of the solution.
- It is easier to garner support from likeminded individuals since there is a social side to the enterprise. It is also easier to get people onboard at lower salaries than compared to other industry.
Similarly there are advantages that are specific to the environment, society and the people concerned. Some of them are as under:
- Services in whichever section they may be offered are customized better to suit the needs of the individual or the problem. This is also designed in harmony with all other systems like the environment, society or the people.
- Cost effectiveness is another advantage of a social enterprise. The solutions offered by these organisations in the form of either products or services are reasonable than compared to the same service provided by a profit making organisation. No wonder basc amenities like healthcare, education etc have become very affordable to people world over with the help of these institutions. Micro finance, for example, today caters not to the poor but to the poorest!
- Social enterprise today: Wednesday 13 November (theguardian.com)
- Funding available for Hope Social Enterprises (hopebusinessgateway.wordpress.com)
- Five steps to geographically expand your social enterprise (theguardian.com)
- Social enterprises in Singapore: Welcoming corporates (socialenterprisebuzz.com)
- Demystifying ‘Social Business’ in India (sulai2320.wordpress.com)