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Nov
21 2012

Social entrepreneurship is a business

Syndicated from: Canadian Youth Business Foundation

Dominik Loncar, CYBF Entrepreneur-in-Residence, dloncar@cybf.ca Social entrepreneurship is on the rise and it involves enterprises that want to have an impact on the social betterment of society. However, one misconception is that because you choose to follow in this path that you don’t have to worry about revenue. All organizations (businesses, non-profits and government agencies) cannot forget about revenue and expenses – or financial sustainability. In effect you have two layers: the first is the business model – how will you generate money (revenue) that will exceed expenses? The other one is the social impact you want to have. I purposely use the word “business model” because all organizations need customers. Learning about business in general will make you sharper in leading a social purpose driven organization. To get you started, or to see what is happening in this field, take a look at a relatively new magazine, SEE Change Magazine, Canada’s first publication for and about social enterprise and entrepreneurship. Also check out the great resources available on CYBF’s Business Resource Centre. Who knows…this may one day inspire you to start something you’ll be proud of!

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