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MARK ANGELO T. BARAL BSE-
Activity 5
It requires motivation and commitment to be a successful social entrepreneur making a real difference in your community. Do you think you have what it takes? Consider whether you have the characteristics typical of social
entrepreneurs listed above. Then review your interest in social enterprise by completing the questionnaire below.
- Do you think you have the following characteristics?
YES
A need for achievement
YES
A need for autonomy
YES
A creative tendency
YES
The ability to take calculated risks
YES
A strong social purpose
YES
- Why do you want to start a social enterprise? List your reasons in order of importance.
Answer: I want to start a social enterprises for a lots of reasons but the no.1 reason I want to start a social enterprise because it can create so much happiness. What about the homeless that were handed a hard life or children in Africa with little access to clean water. Imagine the happiness on a thousand children whose school or neighbourhood you have improved. And also I want to start a social enterprise because I want to achieve
social, cultural, community economic and/or environmental outcomes; and, to earn revenue.
3.What barriers are you likely to face in establishing a social enterprise?
Answer:
Finding funding
There isn’t a business in the world that didn’t wish it had more money to invest in expansion and achieving its mission statement. Unfortunately, when it comes to social enterprises this is usually a much bigger concern than for corporate enterprises.
It’s not ridiculous to call finding funding the number one challenge of a successful social enterprise. A great idea is worthless unless you can follow through on it. And that requires not just funding for action, but promotion, structural costs and paying staff.
Overcoming suspicion
Social enterprises are often met with distrust. The public often questions their true intentions. Charities wonder why they aren’t non-profit. Some media give them little coverage and assume they’ll fail and fizzle away. This is a unique business hurdle to overcome before you’ve even really got started.
Finding good manufacturers
Unaccounted for additional costs can be a death blow for a business, shutting them down before they get a chance to begin their mission.
Take e-commerce as an example once again, the cost of production can be a huge challenge if you’re selling a quality product with specific requirements. Considering all the additional costs of running e-commerce, it can be hard to make it worthwhile. This can lead to you looking for a good manufacturer in a price range they simply don’t exist in.
- How will it affect you and your family if you start a social enterprise?
