Social Entrepreneurship towards Changing the Climate for Business in India

Abstract

"Social entrepreneurship has received a greater recognition now a days. It has become need of the hour for sustainable growth of the Indian Economy. This study identifies the opportunities and role of social entrepreneurship in reducing economic imbalances and achieving sustainable economic growth in India. Climate change and its consequences threaten the economic growth especially the agricultural sector. Unlike traditional corporate businesses, social entrepreneurship focuses on maximizing gains in social satisfaction, rather than maximizing profit gains. These enterprises are structured as both forprofit and not-for-profit entities. Social entrepreneurs have been calling for a better ecosystem in which their social ventures could exist and operate. This will help them formulate better strategies and achieve their dual objectives. Besides, Ethical element is important because leaders who are about to change the world must be trustworthy. Around 600 social enterprises in India affect 500 million lives, attracting over USD 9 billion in capital. India is the youngest start-up nation in the world with 72 per cent of the entrepreneurs less than 35 years old. Around 70% of the social enterprises work with individuals from socially and economically disadvantaged communities, 82% work with women, 31% work with people with disabilities, and 46% work with children. The study analysed various agricultural social enterprises in India, working to improve the productivity, market linkages, and farmers’ income besides addressing social, cultural, financial and environmental problems. Majority of the enterprises are clustered around Maharashtra and Karnataka, followed by Telangana, Delhi and Tamil Nadu. More than 50% of the social enterprises are focused on providing access to products and services."