Why We Need Social Enterprises Today More Than Ever

In a world coping with a pandemic and the effects of climate change, social enterprises provide a lifeline for millions around the world. If running a business with a purpose is your dream, there’s never been a better (or more important) time to live it. 

It’s been nearly two years since the world first heard of COVID-19, and since, the global economy and our lives are yet to return to normal. Though everyone on the planet has been affected by the pandemic, developing nations and vulnerable communities have been hit the most. 

Just as it exacerbates the pre-existing health issues of its victims, COVID-19, has done the same with the world’s economic and social issues. Developing nations struggle with vaccine supply and distribution. Lockdowns have left itinerant workers and small businesses redundant. And, even in the world’s biggest cities, BAME communities and lower-income groups have been the most affected, forcing the world to accept that inequality is more of a chasm than a gap. 

While traditional for-profit businesses are focused on “building back stronger” to minimise the impact on their employees’ livelihood and growth, social entrepreneurs entering the marketplace are focused on “building different”. 

And, in a world where we’re forced to adapt to the New Normal, doing things differently has never been more important. 

There is so much more to look forward to, including a number of exciting projects and we can’t wait to share with you what we’re up to next!

We need more innovative thinkers 

Creative entrepreneurs, including the likes of Elon Musk and Richard Branson, are assets to the global economy… So, it’s no surprise that social entrepreneurs are among the most effective and innovative agents of change in our society. 

Despite their out-of-the-box concepts, successful social enterprises are not only effective at bringing value to society but are profitable businesses as well.

This allows them to carry out their mission and support communities that agencies and government bodies cannot reach. Despite their best intentions and efforts, government’s and NGO’s struggle to meet the needs of certain at-risk groups. 

This has always been the case but following the effects of COVID-19, these organisations are under even more stress than usual. Innovative and financially sustainable social enterprises help support those that slip through the cracks while providing value with their products and raising awareness of social problems to their consumers.

Social enterprises are what the modern consumer wants 

A growing segment of the consumer base is more socially conscious than ever. The pushback some businesses receive from Millenials and Gen-Z is more than “internet activism”. 

Instead, it’s a response to the threat of climate change, the exploitative practices of certain multinationals, and a growing sense of inequality. And, until change happens, it’s a response that’s here to stay. 

Nowadays, consumers are just as interested in the story and societal impact of a product as they are in its quality. And they are more likely to connect with businesses that care about social, economic and ecological stability. 

This raises the question: Should social enterprises exist in their own subcategory, or should it simply be the new way of doing business? 

Sustainability is more than a buzzword, it’s a necessity 

Most corporations across the globe are trying to address the big red elephant in the room: climate change and have made significant progress. 

However, while many companies are still in the process of change or trying to “graft” sustainable practices into their existing processes, many social enterprises carry sustainability in their DNA from day one. 

Not only does this help them have a positive impact, but the business models of these social enterprises can also help them pave the way for other businesses (big and small) to adopt new practices and operate differently. 

With the recent Intergovernmental Panel on Climate Change (IPCC) report making it clear that it is now “code red” for humanity, ignoring climate change is no longer an option. Social enterprises which actively contribute to the preservation of the planet are now more important than ever.

From expert mentors to workshops and strong networking opportunities, at Trampoline, we offer all the help social enterprises need to get started down the path of making a positive change in society. If you’re a social entrepreneur and want to know more about our 9-month Impact Accelerator Programme, click here.

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