Social entrepreneurship and other frequently asked questionsWhether it is building schools from plastic waste or opening a cafe staffed by trafficking survivors, social entrepreneurs find innovative and creative ways to solve a diverse range of environmental and social problems through a business lens.As social entrepreneurship gains traction around the world, misconceptions about the work persist, according to the findings of the Thomson Reuters Foundation’s second global poll on the best countries for social entrepreneurs. Typically, any profits generated from the business are reinvested to advance their stated social cause or benefit their community. Social entrepreneurs started being more widely used in the 1990s amid a drive by co-operatives and community enterprises wanting to use businesses to create social change and an increase in conscious consumerism. However, over time it has evolved into an umbrella term often used to describe a broad range of activities from mainstream business that has a social impact to individual activism. This year Thailand implemented a law to give tax breaks to registered social enterprises, who commit to reinvesting 70 per cent of their profits, while Ireland published its first social enterprise policy for social enterprises to help build awareness and growth.

Source: Standard Digital November 12, 2019 11:39 UTC