Entrepreneurship is of many types depending on the major objective of the investor. The social entrepreneur is a very important person in the development of the society as a whole in general terms. They are the drivers of innovation and progress. In the realm of business, they are seen as the initiators of growth which in turn brings about a variety of innovations and opportunity to cause economic advancement within their communities and even beyond.
Funding has, without a doubt, been a major problem. Even though they may be intended to run as non-profit organizations, they still need funds to meet their day to day needs. To keep themselves in business, some are able to generate some income from the sale of socially valuable goods and services. Other sources of income may include corporate investments, donations and government funding. As these entrepreneurs soon find out, it is not always easy to approach investors as many fear that they may not recoup their investments being that these enterprises mainly focus societal value rather than profit generation.
The entrepreneurs are also known to provide frameworks for businesses. This ultimately helps them find success in the pursuit of the desire to help others. For instance, setting up businesses provides employment to many persons both directly and indirectly. In many instances, this is considered a goal achieved by the investor.
Other major characteristics are that the individuals involved are usually passionate and determined about what they do. They possess a high sense of motivation, intrinsic or extrinsic, and are visionaries who have the aim of bringing change. In essence, the this kind of entrepreneur can be termed as a persons recruiter, who presents their ideas or solutions, in a manner that the people, who could be a part of the problem, get to see the need for a change and join the entrepreneur in attempts to achieve it.
Entrepreneurs also engage in the process of continuous innovations, adaptations and learning. In this manner, the society is at the advantage of benefiting from such innovations. The main limitation may be the fact the room for innovation is a bit restricted due to limited funding. Innovation is at times risky and may culminate in losses. This makes it difficult for a good number of social enterprises to exploit their full potential.
For the ventures that are to be involved in production of goods, locating the right manufacturers is more often than not, quite difficult. Faced by the entrepreneurs as they bargain their hunt to find the most affordable one in accordance to their financial capabilities. However coming up with the cash to meet the minimum order is usually a problem to the entrepreneurs.
Passion is one of the most important attributes for any investor wishing to to create a venture in this area. The passion should not be built on the desire to make money. Rather, it should be on the need for bringing about a positive change in society. Passion is what keeps the investor going when major challenges are encountered.
Just like all other sectors, the enterprise is also faced with numerous challenges that hinder its growth and development. Such challenges need to be looked in to in order to ensure the development of the entrepreneurship sector. Governments and the corporate sector are best placed to collaborate with small start-ups to help them remain afloat in the ever competitive business environment.
Funding has, without a doubt, been a major problem. Even though they may be intended to run as non-profit organizations, they still need funds to meet their day to day needs. To keep themselves in business, some are able to generate some income from the sale of socially valuable goods and services. Other sources of income may include corporate investments, donations and government funding. As these entrepreneurs soon find out, it is not always easy to approach investors as many fear that they may not recoup their investments being that these enterprises mainly focus societal value rather than profit generation.
The entrepreneurs are also known to provide frameworks for businesses. This ultimately helps them find success in the pursuit of the desire to help others. For instance, setting up businesses provides employment to many persons both directly and indirectly. In many instances, this is considered a goal achieved by the investor.
Other major characteristics are that the individuals involved are usually passionate and determined about what they do. They possess a high sense of motivation, intrinsic or extrinsic, and are visionaries who have the aim of bringing change. In essence, the this kind of entrepreneur can be termed as a persons recruiter, who presents their ideas or solutions, in a manner that the people, who could be a part of the problem, get to see the need for a change and join the entrepreneur in attempts to achieve it.
Entrepreneurs also engage in the process of continuous innovations, adaptations and learning. In this manner, the society is at the advantage of benefiting from such innovations. The main limitation may be the fact the room for innovation is a bit restricted due to limited funding. Innovation is at times risky and may culminate in losses. This makes it difficult for a good number of social enterprises to exploit their full potential.
For the ventures that are to be involved in production of goods, locating the right manufacturers is more often than not, quite difficult. Faced by the entrepreneurs as they bargain their hunt to find the most affordable one in accordance to their financial capabilities. However coming up with the cash to meet the minimum order is usually a problem to the entrepreneurs.
Passion is one of the most important attributes for any investor wishing to to create a venture in this area. The passion should not be built on the desire to make money. Rather, it should be on the need for bringing about a positive change in society. Passion is what keeps the investor going when major challenges are encountered.
Just like all other sectors, the enterprise is also faced with numerous challenges that hinder its growth and development. Such challenges need to be looked in to in order to ensure the development of the entrepreneurship sector. Governments and the corporate sector are best placed to collaborate with small start-ups to help them remain afloat in the ever competitive business environment.
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