The entrepreneurship which is approach by individuals, groups, start-up companies or entrepreneurs where they can develop, fund and implement solutions to social, cultural and environmental issues can be called as Social Entrepreneurship.
Social Entrepreneurship is in just beginning stage in Nepal. Social Enterprises are ready to face hurdles whenever the business environment is unfavourable. There are some social enterprises in Nepal and they are:
Association for Craft Producers: A fair Trade organization that provides a design training, technical training, management training and marketing service to craft producers in low income. And it is especially for Women in Nepal.
Bakery Café: It is not actually social enterprise but it provides job to the people who has hearing disabilities.
Bihani Social Venture: It promotes society inclusive of elders by offering innovative and diverse services and activities.
Chhahari Services: It helps to women with no skills to generate income by empowering through capacity building and income-generating.
Doko Recyclers: It helps in waste management solution.
We all know that, Nepal is a developing country and people are struggling with a lot of problems. So our community needs a social change in every sector like education, health etc. Now days, there is necessity for change demands rises of social entrepreneurs.
The importances of social Entrepreneurship are as follows:
Creating Employment: In Nepal, unemployment rate is high and its one of the major problem in Nepal. Social Entrepreneurship helps to create employment for the people who are in need. It also helps the people by developing their skills and helps to make them skilful and independent.
Create Change Makers: Nepal is developing country, and we know that Nepal is in need of change makers so social Entrepreneurship can helps by bringing change and also transforms people into a changemaker. Social Entrepreneurship also helps by empowering these change makers to change thought process of people.
Create equality in the society: Social Entrepreneurship helps to focus on solution of raising living standard of people in society which helps to create equality in the society. For Example: Kabadiwala or khalisisi are working to change the mindset of people and they are getting respect.
Role Module to youths: We know that social entrepreneurs are one of the biggest sources for inspiring the youths. Social Entrepreneurship helps to give youth right direction to move forward to build up their own career.
Some Opportunities for young entrepreneurs are as follows:
Fewer competitors: Nepal is developing country and most of the people are going to abroad as well as more dependent in remittance but they are not concerned from our own country’s exports and profit. It is also truths that everyone is innovative and creative so it can be great opportunities for youths and other people too who are looking for establishing in Nepal only.
Investors: Social Entrepreneurship helps to develop investors to invest in. There will be easy to achieving great if entrepreneurs dare to bring their best ideas. As we know, there are many investors who are willing to make contributions and investments for the big opportunities.
The growth of social entrepreneurship in Nepal
Nepal is developing country where Social entrepreneurship can sets certain goals for organization and helps in implementing solutions to the problems in society and for society. Social Enterprises not only limited to societal issues but social enterprises can also be cultural and environmental too. Social Entrepreneurship impacts people’s lives in one way or in another way though Social Enterprises are non-profit. As we know some of the social enterprises are successful financially which let them to hire the best calibers. The growth in social entrepreneurship in Nepal helps every unemployed people to get job as we know in Nepal poverty rate is high. Social entrepreneurship in Nepal tries to transform entrepreneurial ideas into business projects to face the issues in society.
Characteristics of Social Entrepreneurship
Social Entrepreneurship helps to make product and it also provides services to the people and to the society.
Social Entrepreneurship has their social objectives and social responsibilities so they can accomplish the every mission of social enterprise.
Another thing is that Social Entrepreneurship has to make profits and earnings to keep because the social entrepreneurship cannot only depend on donations and charities that social entrepreneurship does.
There are three main aims of social entrepreneurship and they are economic, environmental and social which helps to evaluate the social enterprise’s performance and we can understand that profit is not only the sole objective of the organization or any kind of business.
Advantages of Social Entrepreneurship are as given below:
Making an impact to the society: With the help of social entrepreneurship, we can change the living standards of people in society by giving them job. And we can say that its best part of beginning business.
It is possible to receive: Whenever we start a social enterprise, government or other private investors can help as money help. The social entrepreneurship helps to get rid from our problems.
Easy marketing: Social enterprises or social entrepreneurship helps to make our marketing easy by promoting and helps to solve their social issues in society or community.
The feeling of responsibility to employee: The people who are working in social enterprises can understand socially benefitted to society. So social entrepreneurship provides feeling of responsibility to employee.
Making occupations and pay streams: Social Entrepreneurship helps to make occupation for the people and also pay stream. Social entrepreneurship also uses some portion of their benefits to finance projects which will help to profit or benefitted to the entire network in general.
Disadvantages of social entrepreneurship are as follows:
Have to compete with commercials: There the similar business principal between other business and social entrepreneurship so social entrepreneurship have to compete in the commercial market as well as social entrepreneurship has to face the same challenge and risk that is common to all businesses.
Strict Rules and Regulation: The social entrepreneurship has certain strict rule and regulation which is defined by its constitution that is expected to operate commercially.