Impact of Social Entrepreneurship in SMEs of India

Abstract

The study sheds light on the concept of social entrepreneurship and its impact on SMEs in India. Social entrepreneurship is considered as the innovative business ideas that are not only effective to enhance the profit margin of organisations but also able to solve specific social problems. Analysing the effectiveness of social entrepreneurship approach on SMEs in India is the main purpose of this article. Different perspectives of different authors are identified from several articles and journals which are analysed. It is identified from the reviewed articles that social entrepreneurship education has become a vital part of higher education in India. Secondary quantitative design is used as a method in the study for gathering numerical data from financial reports of some selected organisations. There are a few small enterprises in India that have adopted the social entrepreneurship approach such as Shilpa Medicare, Selco, Rangasutra and others. All these organisations provide services that lead to social development. A brief description of services and products of these organisations is presented in the study for better understanding of the impacts of social entrepreneurship on SMEs. Thereafter, created graphs and ANOVA statistics from the numerical data are analysed for understanding the effectiveness of social entrepreneurship on SMEs in India. Keywords : Social entrepreneurship, SMEs, social development, profit growth, social enterprises.