The Davos World Economic Forum had much talk about how to address the excesses of globalized capitalism and an epiphany of sorts occurred. Social enterprise, the ability to use business to address social issues, is gaining traction and public support.
From an article in The Guardian (http://socialenterprise.guardian.co.uk/social-enterprise-network/2013/jan/31/2013-new-growth-ethical-capitalism):
While long-term value is increasingly claimed as a thing of the past (the average holding period of a stock was eight years in 1960 — today, it’s four months), social investors are emerging across the UK, investing in businesses that offer a social as well as financial return. A sense of moral duty and responsibility to society is revived as more people support social enterprises and embrace the ‘buy social‘ message.
An indulgence in bad business has had its heyday. People are rejecting the companies that believe that their sole raison d’être is to profit at any cost. They’re turning to the good businesses to fight the bad. But the onus lies with the public, society and communities to help direct capitalism from its current damaging path. Social enterprise is a tool they can use, because whatever Davos thinks, it is you, me and my mum, Pam who will determine society’s future, not them.
Social investors, or impact investors, are motivated by opportunities that are both financially sustainable and a viable way to change the world. With business tycoons such as Richard Branson backing such ventures, mainstream business is starting to fall for this new perspective on business.
We hope this fresh support for social enterprise will be long-lasting and that social entrepreneurs can transform both business and our society in the future.
Just a reminder: Spread the word about social enterprise (#SocEnt) by sharing the #GlobalLove Campaign with your friends and loved ones this Valentine’s Day. Purchase an ethically-made or fairtrade product, learn about social enterprise and share it through Twitter and Facebook.