Social Entrepreneurship: The Next Right Thing
The world today and I talk specifically in the Indian context, is blossoming with Social Enterprises. The key focus of these enterprises is to make a difference, create an impact in a manner that improves the quality of life, the quality of environment which is actually leading to a Better country and a Better world.
The success of these businesses is measured not only by their P & L statement but also by the acceptance they get from the consumers and society as a whole. More importantly, by the impact that they have created, number of lives they have touched and the enormity of the social or environmental issues that they have been trying to address.
Zero Waste Eco Store, Amsuweaves, The Bartan Co., Phool.co, Vistaraku, Rainwater project, Pipal Tree, Frontier Markets are few such names which are making a difference in various domains.
The number of lives they have touched and the scale of impact these companies have generated has not only helped people earn livelihood but also done good for the environment.
But What is the difference between a Social Enterprise and a regular business. Well there are many and actually none.
The way a business is run is the way a business is run, whatever may be the product or a service. This is one thing that Social Enterprises have to keep reminding themselves. There is always a battle between heart and head.
Today when the world is talking about ESG and policies are being built around it, when submitting the BRSR (Business responsibility Sustainability report) is soon becoming a mandate, organizations/busineses are forced to think beyond profit maximisation.
The contours of Balance sheet is changing right from capex to workex to account for expenses under the head of ESG.
Investment dynamics are forced to change, with India’s climate pledge at COP26 in Glasgow to aggressively bring down its carbon emissions. They have to find that balance between mind and heart.
But easier said than done. In our journey of understanding these businesses, and helping them out, this is one bottleneck that we have seen, faced by all. But then I think it comes with the package. The road to make an impact on sustainability in a sustainable way is not that easy.
Through our series of upcoming blogs and vlogs, we intend to share journeys of various social enterprises, get insights of how they are running the Business, their challenges, the impact they are creating, joyous moments and more importantly create awareness about those businesses. Each one of them is a story of grit, empathy & thoughtfulness. The World needs more of such and we at Amel are the catalyst for the ecosystem for social enterprises to grow, we Hope to inspire others to take the trodden path. Stay Tuned!!!