Social Entrepreneurship is Important

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By Enactus QUT

Along with fidget spinners, calling yourself a social entrepreneur is 2017’s hottest trend. An entrepreneur is often defined as someone who comes up with a new idea, method or business to address a problem in their community. A social entrepreneur is similar to a business entrepreneur, relying on innovation and creativity to provide a solution to a problem, but they are driven by a mission to create social impact and tackle issues such as alleviating hunger, improving education, and combatting climate change.

“The greatest good you can do for another is not just share your riches, but to reveal to him his own.”
― Benjamin Disraeli

Social entrepreneurship provides a framework for businesses to find success in the pursuit of helping others and performance is measured in terms more than just financial. To achieve their altruistic goals, entrepreneurs typically choose one of four methods:
  • Donate a percentage of company profits to fund specific programs
  • Partner with governments, existing charities or target communities
  • Develop a product or service that will raise money or directly benefits a community
  • Employ people facing hard times

You’ve probably seen examples of social enterprises in your everyday life. Think Thankyou who sell products like water and use profits towards ending poverty, or TOMS Shoes which is committed to donating a pair of shoes to a child in need for every pair of shoes they sell, or The Good Beer Company which is based in Brisbane and aims to give half of its profits to the Australian Marine Conservation Society.

Today, as the world struggles with problems including poverty, climate change, health and more, social entrepreneurship is rising in popularity and gaining more traction in being able to create real changes for our communities.

At Enactus QUT, we’re launching a generation of innovators who dream big, create change and use entrepreneurial action to create a better world for all of us! Join us on our mission!