7 Social Entrepreneurship Ideas for Impact Entrepreneurs
Social entrepreneurship ideas have always been needed in economies of all shapes and sizes, however, the term social entrepreneurship gained popularity only a few decades ago.
If you are someone who finds the term “social enterprise” interesting, you may have some questions in mind, such as:
- What makes a social entrepreneur?
- Why do we need more social entrepreneurs?
- What are the benefits of social entrepreneurship?
- Why do people become social entrepreneurs?
- Why should I be a social entrepreneur?
In fact, it’s not the buzzword that attracts more people to social entrepreneurship but the rising needs of answering social issues across the globe, and there are way more opportunities in social entrepreneurship than you can think of. This article will discuss some of the best social entrepreneurship ideas along with answering the above questions so you can find a direction to become an impact entrepreneur.
How Does Social Entrepreneurship Work?
Social entrepreneurship is all about developing and funding solutions that directly address social issues. It can be anything about empowering a certain segment of the population or developing procedures and technology that can help eliminate social risks. There can be literally unlimited social entrepreneurship ideas, and so the opportunities are abundant.
In simple words, social entrepreneurship is all about solving and supporting the solutions that solve social issues and help the community in improving their quality of life.
Social entrepreneurship ideas do not necessarily need to be non-profit ideas; the social enterprise is rather a business opportunity through solving social issues. And, social entrepreneurs are the individuals who explore business opportunities that create a positive impact on a particular community, a society, or the world as a whole.
If you are a budding entrepreneur looking to pursue such an idea and looking for opportunities that can create a positive social impact, Social entrepreneurship is definitely your thing.
Why Do We Need Social Entrepreneurs?
No matter how many social enterprises there are, we need more social entrepreneurs, because there are still too many ways for businesses to create social value and improve the quality of life for the community.
The core purpose of social entrepreneurship is creating social value for the greater public good, so even seasoned commercial entrepreneurs are now thinking to become impact entrepreneurs.
We need more social entrepreneurship ideas and more social entrepreneurs because the major social problems of the world have not yet been resolved.
What Makes a Social Entrepreneur?
Anyone with the potential to solve community-based problems can be a social entrepreneur. A lot of people want to solve community-based problems, but they don’t know how to do so; while social entrepreneurs know “how”.
Often, social entrepreneurs are the people who have a particular passion for a specific cause or a related field. Social entrepreneurs are the people willing to take on the risk and effort to create positive changes in society through their initiatives. This is what makes a social entrepreneur.
Moreover, social entrepreneurship is not just about offering a solution but also finding the right business model, developing a foolproof business plan, working on sustainability, and making sure your enterprise is self-sufficient.
What are the Benefits of Social Entrepreneurship?
The biggest reward and the greatest advantage of becoming a social entrepreneur is the potential to create and sustain a positive impact on society and improve the quality of life for the community. As a result, the community grows and the people find opportunities to create impact and inspire others.
While working on social entrepreneurship ideas you have the freedom to develop innovative solutions, become the change maker, and shapeshifter, and inspire others to do the same.
Another big and most prominent benefit of social enterprises is that they can create jobs and help the overall economy of the country. According to the European Commission, the social entrepreneurship sector currently employs around 40 million people and engages over 200 million volunteers globally – and is growing.
7 Easy Social Entrepreneurship Ideas
So yes, it is a great time to be a social entrepreneur and inspire others. Let’s explore some of the prominent and easy social entrepreneurship ideas.
1- Sustainable Packaging
Sustainability is at the forefront of many people’s attention these days and sustainable packaging is one of them. More and more people are looking for eco-friendly and sustainable packaging.
So as a social entrepreneur, start a micro or medium-sized sustainable packaging business like reusable grocery bags or sustainable food container packaging. There is a very good market for reusable grocery bags business.
You can also create more functional bags like waterproof material bags, and can even expand the target market to fashion retail and product-based startups by offering them custom packaging solutions.
2- Clean Energy Startup
As a social entrepreneur, you will first require knowledge and concepts of clean energy or the support of someone who has this knowledge. A clean energy startup can be both a product and a service and is growing in both admiration and requirement.
You will need to take a clean & green approach to produce energy like electricity-generating bicycles or solar paneling, solar LED street lights, or solar AC’s.
3- Micro Lending Platforms
Many entrepreneurs around the world have brilliant minds but no money to implement their ideas. You can create a safe and inspirational environment for these social entrepreneurs by starting a micro lending platform (loans small amounts of money to people who cannot succeed for loans through other institutions) and one example of these platforms is Market Connector KIVA.
You may also consider building niche-specific crowdfunding sites to connect investors with entrepreneurs from specific industries. Moreover, you can also help social entrepreneurs in providing communities and occasions to introduce them with much-needed capital.
4- Low Cost Services for Special Needs
Among social entrepreneurship ideas, you can start a rehabilitation service by offering low-cost services for special & social needs. You can offer low-cost health services like regaining physical, mental, or cognitive abilities, promotion of good health, prevention of disease, treatment, and care of special children, adults, or older people.
5- Clean Water Supply
Unfortunately, there are many places in the U.S and across the world that don’t have access to purified and clean drinking water. As a social entrepreneur, you can build a strong social impact and high profits by supplying people with clean and purified water.
This can be a perfect idea for you because you can start this by just purchasing readymade water cleaning devices. Some examples of clean water supply companies are SOMA water and WATER HEALTH INTERNATIONAL.
6- Vocational Training Center
Vocational training basically refers to instructional programs and courses and as a social entrepreneur, you can open your own vocational training center both online (website) and offline (physical institute).
You can prepare people for specific careers, unrelated academic subjects, hands on training, and job specific instructions through online platforms or physical institutes.
7- Community Service
As a social entrepreneur, you can work through hundreds of ways so that people in your community can acquire the benefits of your work. For instance, organizing events for seniors and the elderly, after-school activities center, connecting local producers to the buyers from outside, and much more.
There can be tens of social entrepreneurship ideas within the community service niche, and since there aren’t any limitations like you can freely move and offer your community services by working with school children and senior citizens, improving the environment, and helping low income people.
The Bottom Line
Every idea starts with someone looking to solve a problem and social entrepreneurship is the same. Social entrepreneurship is very unique because it combines the foundation of best business practices with a desire to make a positive social impact on the world.
Whether it is profit, nonprofit or hybrid social entrepreneurship, it is increasing in relevance because consumers actually prioritize the ethics of a company over price and 56% of U.S consumers stop buying from companies they believe are unethical.
So if you are passionate about solving problems and making a social or environmental impact then there are hundreds of more social entrepreneurship ideas that you can explore within your economy. I am sure the above ones will give you a direction to get started.
Remember that just like all other businesses, social entrepreneurship also requires the same efforts but the most important part of being a social entrepreneur is to truly believe in the mission of your business, stay organized, passionate, and focused on your intentions only then you will be able to change lives.