Innovative Solutions for Sustainable Development: The Role of Social Entrepreneurship in Alleviating Poverty

Abstract

In Iraq, social entrepreneurship is increasingly recognised as a promising path towards alleviating poverty and fostering holistic societal development. Poverty eradication is crucial for sustainable progress, and social entrepreneurship offers avenues for job creation, accessible goods and services, and overall economic growth. This study aims to enhance the effectiveness of social entrepreneurship in Iraq by improving economic, social, and environmental efficiencies. The research developed three hypotheses, drawing on theories such as Opportunity-Based Entrepreneurship, Social Network Theory, and the Schumpeterian Innovation Model. Through purposive sampling and 220 structured questionnaires, 217 responses were analysed. The findings indicate that social impact strongly predicts poverty alleviation, followed by economic empowerment and social value, though social innovation showed mixed results. Government policies were found to have insignificant result on the relationship between social entrepreneurship and poverty alleviation, attributed to perceived inadequate support for the private sector. Recommendations include regular evaluation of social innovation strategies, brainstorming sessions, empowerment programs, and fostering social impact through community and individual empowerment. By fostering an environment conducive to social entrepreneurship, Iraq can harness local innovations and community strengths to combat poverty effectively, ensuring sustainable development and societal well-being.