Entrepreneurship and entrepreneurs are widespread words that everyone gets to hear. However, there are several things that most people don’t understand about entrepreneurship. As the title suggests, here, you will learn various facts and types of social entrepreneurship. Before you dive deep into the topic, we will help you understand what entrepreneurship is.
Entrepreneur and Entrepreneurship
An entrepreneur is the founder and leader of a business who works towards a vision, plans his steps, and works towards them. Who has understood a problem and found solutions to it, who dares to dream big, takes risks, and sells his product to facilitate the society in all.
Entrepreneurship is the process of setting up a business; it may be one or many projects providing multiple employment opportunities. It is an art of generating innovative ideas with the changes in financial, social, and cultural norms keeping the venture alive and moving forward towards a goal.
Now that we have a general idea of an entrepreneur and entrepreneurship, let’s move forward to the types of social entrepreneurship.
The pandemic has shaken our ground and forced us to stop our daily busy life making us empathize, sympathize and go back to socializing. Investing our time and resources into what matters.
A Social Entrepreneur
Like any other entrepreneur a social entrepreneur wants to invest keeping his returns in mind, however, they have a conscious effort to benefit and uplift the society to bring about a social change.
Types of social entrepreneurship
1. The Community Social Entrepreneur
Community entrepreneurs focus on localized issues and resolve them. Such entrepreneurship includes limited resources and works on a domain-based structure. Non-profitable social entrepreneurs aim to provide a better social value to everything without any business margin. They don’t work on the business Market strategies rather help people.
For example, several small organizations hire people and pay them for the work. They provide opportunities to poor people. They might not offer higher wages with their limited resources, but such small positions help many low-income families have food on their plates.
2. The Non-Profit Social Entrepreneur
As the title suggests it is a non-profitable organization that runs on donations and funds generated from established companies. A social entrepreneur works to create a positive environment for all with sustainable revenue. It has a structure of a commercial business, a business model, revenue plan, and consumer base gradually creating a self-sufficient organization.
3. The Transformational Social Entrepreneur
Transformational entrepreneurs and creative innovators, coming up with solutions to the world’s biggest financial problems. The organizations impact scalable business models that produce services and products with high demand thereby creating a sustainable business.
4. The Global Social Entrepreneur
Despite the names, it’s not a global contribution rather an individual group or start-up companies that develop funds and implement solutions to social problems and environmental issues. The organizations vary in beliefs, aims, and sizes
you can also check this out A Day in The Life of An Entrepreneur in 1500 Words
If you wish to start your career as a social entrepreneur or be a part of social entrepreneurship this blog is sure to give you a brief insight into types of social entrepreneurship and how each one functions. As a beginner, if you don’t have enough resources to start something new, you can join non-profitable social organizations and learn from them.