The social entrepreneurship
field has seen an increase in appeal recently. According to Entrepreneur
magazine, some 30,000 social entrepreneurs
are applying their business skills to help solve problems of pollution, poor nutrition and poverty worldwide. Despite this enormous effort, however, starting not for profit incorporations
can be difficult and hard to succeed in.
"It is not easy to do a social enterprise," said Gautam Kaul, managing director of the Social Venture Fund at the University of Michigan to the source.
"In private enterprise, the sole aim is my shareholders. With a social enterprise, there is something more - social impact - [while] growth is misplaced," he added.
For this type of incorporation
to be successful, it needs to remain focused on its mission. With too broad a scope, the organization could flounder. However, if an organization's vision is too narrow, it could lose sight of the sector it is trying to help.
Additionally, social entrepreneurs should remember that, although they are doing good, they are still businesses, thus it is important to remain competitive and keep business structure in mind, the source recommends.
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