Latest news with #socialgood
Forbes
2 days ago
- Business
- Forbes
How To Build A Million-Dollar Business While Solving Global Problems
Wayne Elsey, Founder & Head Coach/CEO, The Funds2Orgs Group. There was a time when I thought I had to choose between social good and success in business. Then came several natural disasters that led me out of the corporate world and into the global for-profit social enterprise space. As a guy in the shoe business, I made the connection between shoes and the reuse economy. In other words, I figured out how to boost local communities, get used quality shoes into the hands of people in developing nations and support sustainability. For others, solving global social issues could be different, of course. But here's the thing I've learned in our social enterprises: The bigger the problem, the more profitable the brands have become. There are several reasons for this, of course. It's taken a lot of time and effort, but I'd like to share what has allowed our team to do good and let the brands expand. The Myth Of Choosing Sides For generations, there's been a false narrative that people must choose profit or purpose because they're on opposite ends of the spectrum. Not true. In my view, they're complementary forces, and I'm not alone in that mindset. I remember when the idea of corporate social responsibility (CSR) was more in words than action, and now, even local businesses on Main Street take CSR seriously. The fact of the matter is that leaders who focus on profit and purpose provide immense value. For instance, in our social enterprise brands, we connected local community needs in the United States, reducing waste and supplying small businesses in developing nations with inventory to sell the shoes we procure for them through our partners. The connections we made provided global value, and our brands have profited. If you're someone who wants to get up in the morning with a purpose and for profit, you can do it. The magic happens when you stop and think. I know we're all rushing around, but the most significant and crucial decisions in life and business don't happen in a rush. They need to marinate in the mind, and the person needs to truly own it. So, ask yourself what problems keep you up at night because they likely keep others up at night, too. Start there. Scale Through Systems, Not Just Heart The key to combining profit and purpose is to find the sweet spot where they intersect with market demand. In other words, for our brands, there was a need in the local American markets to get funds into communities. There was also energy around sustainability and the climate crisis, and there was an understanding that sustainable solutions were necessary for people in developing nations. That was the runway where we took off. It's essential to realize that brands take off when they scale. Early on, I spent hours at the kitchen table where our first social enterprise brand was managed, looking into every aspect of the business with the team. More than a decade later, from our global headquarters, I still spend time almost daily on key areas: sales, marketing and operations. Moreover, thanks to technology, we measure everything from revenue growth to partner satisfaction and the amount of waste we save by redirecting shoes into the reuse economy. The Partnership Advantage Aside from the scale of the system within our brands, there's another essential aspect of our social enterprises. We consider our customers, small business partners in developing countries and our logistics team as partners. When you view people and entities as partners, you're working on fulfilling the same purpose together. That motivates people, and people realize that we operate beyond profit for purpose—together. For instance, we don't just ask for inventory when approaching large retailers and leading marathons for our sneaker reuse brand. We talk about creating a partnership whereby we help them leverage their brands, solve a waste disposal problem, lower the environmental impact of waste on the planet and help people worldwide with a hand-up. The very idea of a partnership makes all of our constituents realize we're looking for mutual win/win action and success. Your Problem Is Your Opportunity A positive outlook is another overlooked necessity to build a million-dollar business. Challenges can't be wholly insurmountable. Take environmental sustainability and the climate crisis, for instance. To some, we're past the point of no return. I don't choose to look at it like that, and neither does my team. We continue to find opportunities to do better for the environment and people. The business leaders who will create the next generation of successful small and medium-sized businesses don't focus on loss. They focus on opportunities, and with the idea of purpose, profit and making a difference, there's plenty of opportunity. Social challenges are simply market inefficiencies waiting to be solved. So, if you want profit and purpose, start where you are, with what you have and look to solve a market inefficiency—with partners. Forbes Business Development Council is an invitation-only community for sales and biz dev executives. Do I qualify?
New York Times
12-07-2025
- Business
- New York Times
Andrew Kassoy, 55, Dies; Saw Capitalism as a Force for Social Good
Andrew Kassoy, who left a career in private equity to help start an international movement to reconsider capitalism as a force for social good and not merely for profit, died on June 22 at his home in Brooklyn. He was 55. His death came after two and a half years of treatment for metastatic prostate cancer, said his wife, Margot Brandenburg, a senior program officer at the Ford Foundation. Shortly before he died, Mr. Kassoy said in a videotaped conversation with Jay Coen Gilbert and Bart Houlahan, two business partners and longtime friends from their fraternity days at Stanford University: 'I think one of the things that makes capitalism not work as a system is, it was built on the idea of carelessness. Like, literally, the entire purpose of it was that people should build wealth for themselves and that other people didn't matter, you couldn't care about them.' His contradictory philosophy, Mr. Kassoy continued, was that 'you're here to care, to care for your workers, your community, the planet, the other people that you do business with in your supply chain.' In 2006, Mr. Kassoy, Mr. Coen Gilbert and Mr. Houlahan left the corporate world and jointly founded B Lab, a nonprofit network whose lofty mission is 'transforming the global economy to benefit all people, communities and the planet.' Want all of The Times? Subscribe.
News24
27-06-2025
- Business
- News24
Rallying South Africa towards the Common Good
The Social Employment Fund (SEF), managed by the Industrial Development Corporation (IDC), is a transformative initiative aimed at combating unemployment in South Africa by supporting work that serves the 'common good.' It partners with civil society organisations like NGOs, community kitchens, ECD centres and faith-based groups to provide meaningful work and promote social cohesion. Since its inception in 2023, over 150,000 people have participated in the programme. Many have never worked before – but have been able to use the skills, capabilities, self-esteem and confidence gained to take the next steps on their pathways out of poverty – into better jobs – or into livelihood and micro-enterprise activity. Building agency at community level SEF-funded projects have led to significant skills transfer in areas such as: Health and Care: Home-based care, maternal health support, psycho-social services. Agriculture: Organic farming, composting, food garden management. Education: ECD facilitation, after-school tutoring, sports programmes. GBV Support: Community-based paralegals, counselling, awareness raising campaigns. Greening and Cleaning: Waste management, Beneficiation of biomass, invasive species removal. Community and public art: Presentation skills, social media usage, Arts and Crafts showcasing and performance Digital Inclusion: Computer & research skills, data gathering and survey process These programmes not only provide income, but also foster community agency and resilience, reinforcing a sense of purpose among participants. Case studies of impact 1. Johannesburg Inner City Partnership (JICP) In partnership with the City of Johannesburg, JICP addresses urban regeneration by employing 1,600 participants through NGOs like Urban Space Management and Clean City SA. Participants clean public spaces, plant gardens and help reduce crime through placemaking. Youth-focused programmes such as Sport for Social Change combine recreation with life skills training, promoting safety and community pride. 2. Hlanganisa Institute: Sisterhood Advocates Operating in provinces like Free State and Limpopo, Hlanganisa has trained over 2,600 'Pinkies'—female paralegals who support survivors of gender-based violence (GBV). With SEF support, their reach expanded from 391 to 6,000 GBV cases handled monthly, highlighting how social employment can significantly scale up effective community initiatives. 3. Food Security: Seriti Institute and Solidaridad Network Addressing hunger, Seriti developed an agri-node in Deelpan, North West, offering fresh produce and reducing clinic visits due to improved health. Solidaridad empowered 1,650 smallholder farmers with technology and market access in Gauteng, Eastern Cape and North West, contributing to long-term household food security. The Social Employment Fund is part of the Presidential Employment Stimulus, in support of the social economy strategy of the Department of Trade, Industry and Competition. The Industrial Development Corporation is the fund manager.
Khaleej Times
02-06-2025
- Business
- Khaleej Times
UAE: Free office space, workshops in Abu Dhabi for startups
Abu Dhabi is now home to a year-round hub for startups and organisations delivering social good, following the launch of Athar+, a permanent platform by the Authority of Social Contribution – Ma'an. Unveiled at M39 this week, a vibrant co-working space in the capital, Athar+ represents a major expansion of Ma'an's earlier social incubator model, which was limited to just two cohorts annually. This new initiative is designed to be more inclusive and continuous, offering free office space, access to workshops, networking opportunities, and both financial and logistical support to startups, NGOs, and social enterprises making an impact in the emirate. 'Today, we are no longer only covering the traditional model of business incubation,' said Salem Al Shamsi, Executive Director of Social Incubation and Contracting at Ma'an. 'We're covering ideation, social venture acceleration, and providing a social incubator that runs permanently throughout the year. Not every enterprise is at the same level of growth, Athar+ is designed to meet these different stages with tailored support.' Al Shamsi added that what makes Athar+ unique is its focus on outcomes: 'We always start with impact. Since launching Ma'an in 2019, we've built everything with that word in mind. Athar+ is the next step — the 'plus' is the continuous improvement and future focus.' The platform now accepts applications on a rolling basis, without limiting participation to a specific number or sector. 'Any enterprise addressing Abu Dhabi's social priorities and offering measurable social value can apply,' he said. New chapter for MS Group For Ahmad Al Shawa, General Coordinator of MS Group in Al Ain, the launch of Athar+ marks a much needed turning point. His organisation, which raises awareness and provides support to people with Multiple Sclerosis, was selected after a series of interviews with Ma'an. 'Just by being here, it's already an opportunity,' said Al Shawa at the launch. 'This is more than just office space. You're surrounded by incubators, startups, NGOs, and investors — it's a platform that brings the whole third sector together.' MS Group, which was first launched in 2009, has faced ups and downs over the years. With Athar+, Al Shawa hopes to rebuild the organisation's legacy and expand its reach through new partnerships and exposure. 'It fills a lot of gaps — especially in making connections, sharing experiences, and possibly finding sponsors or investors.' The group's recent inclusion in the Arab Union for MS was a key milestone. 'That partnership has helped us exchange experiences with MS groups across the Arab world,' he explained. 'Personally, as someone living with MS, I see the differences in treatment, awareness, and systems across countries. Learning from others makes a big difference.' AI to detect speech delay Hamdan Al Ali, a PhD student in natural language processing at MBZUAI, is another entrepreneur set to benefit from Athar+. His startup, Chatty Check, is an AI-powered game that helps diagnose speech delay in children — a condition affecting an estimated 14% of children worldwide. 'Instead of having a therapist sit with a child for 60 minutes, the child plays a game that incorporates the same diagnostic methods — like reading a story or talking, while the AI analyses the interaction,' said Al Ali. The tool is still in its pilot phase, currently being tested in nurseries in the UAE and Portugal, in both English and Emirati Arabic versions. Al Ali first joined Ma'an's original incubator, where he received guidance on scaling his idea. Now, with Athar+, he has access to the tools he needs to grow. 'I can pitch to investors, use the facilities, host presentations, and work out of a professional space — all of which are essential to taking the product to the next level.'
Forbes
28-05-2025
- Business
- Forbes
Social Entrepreneurship Ideas to Fuel Your Civic Passion
Young colleagues in greenhouse with solar panel. getty The term 'social entrepreneurship' has grown in popularity recently, but what exactly does it mean? What are the key values of social entrepreneurship? And how can you turn your civic passion into a social entrepreneurship career? Let's break it down. Social entrepreneurship occurs when a person (or 'social entrepreneur') uses entrepreneurial principles to create a business that impacts a key societal or environmental challenge. These people are driven by a passion to do social good and make a difference in their community. Social entrepreneurship isn't limited to charities and not-for-profits, though. These organizations typically exist to make a profit and positively impact their chosen issue simultaneously. For example, the issue could relate to climate change, pollution, human rights, education, activism, accessibility for marginalized groups, physical or mental health, citizenship, or governance. Whatever the mission, social entrepreneurs have a dual purpose: to create a viable business and reinvest profits back into the business while influencing social change. If you're exploring the idea of a social entrepreneurship career, it's essential to understand some core values you'd need to adhere to. See if they line up with your own values. Out-of-the-box, creative thinking is essential to running a successful social entrepreneurship business. You have to find unique and different ways of solving problems that traditional companies have been unable to solve. Where others have failed, you innovate and progress boldly. A few risks are involved in becoming a social entrepreneur; you must accept them and become resilient if they arise. Risks may be financial, with the potential to lose your initial investment and your business not becoming financially viable. Risks may be economic - how susceptible is your business to economic fluctuations in your chosen market? Risks may be reputational - social entrepreneurs are held to a higher standard than traditional entrepreneurs. At the heart of every social entrepreneur is a driving purpose and passion for their chosen cause. If you have a strong passion and desire to improve the lives of others, you're well on your way to becoming a successful social entrepreneur. founded by Ned Tozun, provides affordable and accessible solar-powered lighting products to low-income and/or off-grid people all around the world, with a goal to transform 1 billion lives. By focusing on improving people's lives and utilizing clean energy, they're a great example of people, planet, and profit. While Lush is a for-profit global beauty retailer, it's focused on the ethical and Fair Trade sourcing of ingredients, sustainable packaging, zero-waste initiatives, and cruelty-free practices with no animal testing at any point of the production line. Lush shows that you can create a profitable social entrepreneurship business without compromising on product quality, leaving the world 'lusher than we found it'. While there are certainly challenges to starting and running a profitable social entrepreneurship business, there are many successful ones all around the world. In fact, research found that there are around 10 million social enterprises globally, generating $2 trillion in annual revenue and creating 200 million jobs. Here's what you need to start a career in this field: If you're an aspiring social entrepreneur, here are a few ideas to get you thinking: While there are many factors to consider before starting a social entrepreneurship career, making a difference in a community can be highly fulfilling and rewarding. If you have a civic passion that you can't stop thinking about, why not explore the possibility of creating a business? Surround yourself with doers, changemakers, and those with entrepreneurial mindsets, and you, too, can turn your passion into a successful and profitable social enterprise.
