07 Jun SOCIAL ENTERPRISE
Now that we’ve established what entrepreneurs do and why they do it, we’re going to talk about the concept of social enterprise – that’s when entrepreneurs focus their business on helping others.
Social enterprise businesses still make money, but their profits benefit people or causes in need. Consider TOMS Shoes (toms.com) – TOMS Shoes is a shoe company, but for every pair of shoes they sell, they donate a pair to a child who needs them. This allows them to operate as a business, while also creating a positive impact on the world around us.
Social enterprises work on building social, cultural, or environmental value into their businesses. Can you think of a business that you interact with that operates this way? Watch the video below and see how Common Good Solutions explains it: