Many people consider starting a business to enhance their financial status. Others desire to be their own boss. Simultaneously, some sense a market opportunity that they do not want to pass up. However, there is another sort of business that aims to make a beneficial difference in society while simultaneously making a profit.
This form of company has grown in popularity in recent years as themes such as sustainability and social inclusion have come up for consideration. This is what we term “social entrepreneurship,” and we want to look at it through the eyes of young people.
Should young people become social entrepreneurs? Let us investigate.
What is Social Entrepreneurship?
A for-profit company model that is sensitive to social or environmental concerns is referred to as social entrepreneurship. Unlike other forms of for-profit enterprises, the purpose of social entrepreneurship is not just to increase profits but to give answers to social problems. In essence, it transforms profitability into a means to an end rather than the final purpose of a corporation.
However, there is an overarching purpose that social entrepreneurship aspires. That is, to bring the required change in the system that create these social issues. However, for systemic change to happen, social businesses must not lose sight of the problems they want to tackle.
Why social entrepreneurship for youth?
Nobody would have believed decades ago that you could make a livelihood from a business and do social good simultaneously. However, we are at a moment where we have started to value social entrepreneurship. Meanwhile, institutions across the world have social entrepreneurship study programs making the new generation of social entrepreneurs.
Is it, however, necessary for young people to have a social entrepreneurship degree to become social entrepreneurs? This is not a yes or no answer.
Surely, understanding the foundations of company operations is crucial, but social entrepreneurship is more than that. A social entrepreneur must have a comprehensive awareness of the world and be driven to make a difference.
Numerous studies reveal that today’s youth are more driven than ever to bring about social change. If we couple it with the fact that young people are constantly bombarded with knowledge about social and environmental concerns from a young age, they are more likely to develop a passion for finding answers to many of the challenges that endanger their future.
How they benefit
Youth social entrepreneurship creates job opportunities for young people and helps the world. As sustainability becomes a top issue, the world will require new solutions to address global challenges in the next years. As young people struggle to find work or develop their abilities, social enterprises provide the perfect opportunity for both.
Youth social entrepreneurship may have a significant impact not only on young people but also on their communities. Instead of waiting for the career of their dreams, young people can create their own social enterprise or work for one that already exists.
Young people may get job and entrepreneurial experience while being productive and doing good for society by working in a social enterprise. Ultimately this leads to their empowerment and keeps them economically and socially engaged.
In terms of skills and competencies, young social entrepreneurship assists them in developing the abilities required for the twenty-first century. Competencies are divided into four categories known as the “four C’s”: critical thinking and problem solving, communication, cooperation, and creativity.
Because of their hands-on experience, students will learn all there is to know about running a business. Most significantly, students will improve their digital literacy, which is critical for any business but also for their personal development. Finally, social entrepreneurs can reach out to more people to inform them about their social concerns and assist them in expanding their network.
Social entrepreneurship is all about doing something good for society with an impact. If the social entrepreneurship movement expands in size, it has the potential to bring about the systemic change that the world badly needs.
It is very important to guide kids toward social entrepreneurship. They are ideal candidates for becoming social entrepreneurs and solving various challenges. It not only eliminates young unemployment but it also equips and prepares them for the future.
Overall, youth social entrepreneurship can make the world a better place for everyone by dealing with the world’s problems innovatively.