Understanding the Role Social Entrepreneurship Plays in Building a Strong Economy

credit: USACE on Flickr

Agnelorajesh Athaide, a serial and social entrepreneur, cofounder and chief mentor of The Business opportunities club (BOC), tackles new-age entrepreneurs who are seeking to bring about change through innovation, to benefit not only businesses but also the underprivileged sectors of society.

According to his article, these new age entrepreneurs has given rise to "social entrepreneurship" in India. It's "a concept that is not only making wide-scale impact but also forging successful international partnerships through sustainable business models."

He states that a social enterprise may have non-profit or for-profit legal structures, but it must have the following two concepts at its foundation: a) a focused social impact mission, and b) a sustainable model.

Athaide also lists some factors one needs to keep in mind when becoming a social entrepreneur:

1. Identify the cause
   
2. Build a sustainable plan
   
3. Build a talented team
   
4. Secure support and collaboration
   

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