We tend to think businesses are driven solely by making money.
But have you ever asked yourself, is it possible to do well and do good?
The answer is you can – through the power of social enterprise.
How can business save the world? Check out our latest video to find out!
It’s a big world out there, along with a mountain of social problems that we face like poverty, violence, pollution, disease, and more. Scary, right?
While individuals and governments do what they can to tackle these problems, they run into limitations and lack funding. But here’s the good news. Business can actually be one of the driving forces for change. And thousands of them are already doing that. We call these types of businesses social enterprise.
So, what is a social enterprise? Well, according to the Social Venture Network, “a social enterprise is a business whose purpose is to change the world for the common good”. Here’s an example: MHD Enterprises is a multi-million-dollar e-waste recycling company based in Austin. MHD refurbishes, resells, and recycles used IT equipment from large companies and consumers.
So you see, MHD promotes environmental sustainability while filling a market demand. But the story doesn’t end there. The company was founded by Michael Dadashi, a former alcoholic and drug addict – who had a hard time keeping a job. He almost lost his life to an overdose – an event that inspired him to turn things around with the help of friends and family.
Now, Dadashi structures his business to help those going through the same struggles he did! Over 70% of MHD Enterprise staff are recovering or former addicts. Their jobs provide them with stability and economic opportunity – and also access to support and resources they need to change their lives.
That’s what makes MHD a social enterprise. It’s a business making a profit, filling market needs, promoting environmental sustainability, and putting the good of the people first. In other words, social enterprises are businesses that are a force for change. For them, making a profit is not the be-all, end-all. Instead, they exist to do good deeds.
Social Enterprises commit to the combination of profit + purpose. When “money talks”, it speaks to the passions they have for solving problems for the greater good. We at CiTTA Partnership believe in a mission-driven economy through social enterprises. Do you?