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Latest News / Social entrepreneurship on the rise globally

 

A new report has revealed that 85% of experts believe the number of entrepreneurs incorporating business activities with social purpose is on the increase globally. ‘The Best Countries to be a Social Entrepreneur 2016’ report, published by Thomson Reuters Foundation, explored the extent to which entrepreneurs within the world’s 45 largest economies sought to make a positive social impact.

The US was named world leader in social entrepreneurship in the expert poll, which included feedback from over 600 social enterprise leaders. The UK and Singapore were named in the top 5, with the UK ranking 3rd and Singapore 4th. Canada and Israel took 2nd and 4th place respectively.

One barrier identified was a lack of awareness about the meaning of social entrepreneurship in many countries, which negatively impacted the number of entrepreneurs adopting a business model incorporating a social contribution.

Rosemary Addis, Chair of Impact Investing Australia, said, “As a sector, the concept of social enterprise and purpose-driven business has not yet got mainstream awareness,” adding, “That’s a job ahead to educate the public.”

The effect of this lack of understanding not only made an impact on levels of social entrepreneurship, but also created additional difficulty raising funds in some regions.

The report and its findings, which were collected in partnership with Deutsche Bank, the Global Social Entrepreneurship Network and UnLtd, can be viewed here.


 

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