4 Essential Social Entrepreneurship Characteristics

The figure of an entrepreneur can be defined as a leader, dynamic, able to identify needs, and many other characteristis in which it can be cataloged. Within some point in the life of an entrepreneur, a spark moved them to do their business. The ability to have vision led them to work hard to get “something”. Currently, that “something” between social entrepreneurs is the belief that we can live in a better world. In recent years, we are seeing a new social entrepreneurship characteristics on people that have the mission to change the environment for people’s benefit. Although for a social entrepreneurship business money is not the goal, resources are needed to operate. Even that, social entrepreneurs are growing thanks to the scope and acceptance they have.

But what makes social entrepreneurship business so special?

hand of a businesswoman is holding a pen pointing at the graph and using a laptop

What is a Social Entrepreneur?

First it is importtant to define and get a clear overview of what is a social entrepreneur. According to Investopedia this is their definition. 

A social entrepreneur is a person who pursues novel applications that have the potential to solve community-based problems. These individuals are willing to take on the risk and effort to create positive changes in society through their initiatives. Widespread use of ethical practices such as impact investing, conscious consumerism, and corporate social responsibility programs facilitate the success of social entrepreneurs.

Social Entrepreneurs are passion driven.

Because social entrepreneurs do what they like, and because they are determined to pursue their objectives in the best way. The normal working hours is not just a few hours, is all day. The passion sometimes leads them to sacrifice hours of food, sleep and even parties to change them for work, because they know that at a given time when the business stabilized, it may have greater rewards.

young female entrepreneur reading electronic book on laptop during lunch in modern restaurant
Entrepreneurial Process Stages

Ethics is essential for social entrepreneurship.

Doing the right things is the nature of a social entreprenurship business. The values are transmitted into and out of the organization, which it generates greater confidence with the stakeholders. The social entrepreneur’s ideal is the engine to search for an impact that creates a better community.

Social Entreptreneurs understand local needs.

A social entrepreneur knows what their community is looking for, so they will search for ways to innovate and turn back any negative condition. Having the ability to fulfill that need will enable the entrepreneur to create a model that generates a change.

african entrepreneur reading financial reports working in modern office

Social entrepreneurship is about changing the world.

While it is difficult to change the whole world, the business of social entrepreneurs aims to take the first step in their community. They know that someday, their entrepreneurship may create an impact that can be multiplied by themselves or by someone else. In the end, the important thing is to make a positive change in the people’s life.

Recap of 4 Social Entrepreneurship Characteristics