Entrepreneurs Addressing Challenges Faced by Communities and Families DAVID DEY
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ommunities face various challenges, but entrepreneurs are • providing solutions to pressing business and social issues. •
The Institute for Social Entrepreneurship has partnered with some exceptional entrepreneurs, businesses and organizations that are making sustainable impacts in the communities they do business in. Beyond the goal of making a profit, the Institute for Social Entrepreneurship is promoting an expanded application of entrepreneurship that makes a profit and a sustainable impact.
Changing demographics and the challenges they present External factors: Global events, economic recessions, pandemics like COVID 19 and its long-term implications.
All the above can adversely impact communities and ultimately families, leading to job losses, economic downturns, and social disruptions beyond their control. The Economic Innovation Group (EIG) created a Distressed Communities Index (DCI) tool for measuring the comparative economic well-being of U.S. communities. The index focuses on a series of social and economic indicators.
At the core of any business idea or venture is a person with a passion to solve a business problem and often the leaders have a passion to address a social issue that adversely impacts their Key Fact: 14.8% of the US population (nearly 48 million business or community. We would categorize these business Americans) reside in economically distressed communities and 60.6 million reside in at-risk communities. leaders as Social Entrepreneurs. Social Entrepreneurs follow their passion and purpose. A passion is simply something that you are enthusiastic about. Our purpose connects our passion and lives into a central idea or way that makes a difference. The Social Entrepreneur’s success lies in their ability to pursue their passion (business idea) and purpose (social difference) simultaneously. Wouldn’t Photo Info found: https://eig.org/distressed-communities/ it be ideal to be able to solve both as part of a business idea or key-findings/ venture? It appears that more prosperous communities experience A few years ago, I began examining my life and work. The growth in small businesses, employment, education, and process revealed the need to focus my efforts on activities that housing stability while distressed and at-risk communities truly pursue my passion and purpose by expanding the Institute experience less in almost every measure. to create a comprehensive model that better supported Social Entrepreneurs. Perhaps you are exploring how best to live out The impact of small businesses already has a profound impact on the wellness of communities. Our desire is to multiply the both as well. impact by supporting Social Entrepreneurs by showcasing how local knowledge and entrepreneurial skills can help Current Environment and Challenges communities, organizations, and individuals uncover and seize • Economic disparities new opportunities. • Social issues
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Inadequate infrastructure Political challenges Environmental factors Lack of access to education and healthcare
What are the right opportunities for you as a Social Entrepreneur?
