Financial Data
Updated 20 Nov 2018


Change-makers redefining success

“Social entrepreneurs are not content to just give a fish or teach how to fish. They will not rest until they have revolutionised the fishing industry.” These are the words of one of the world’s foremost thinkers in social entrepreneurship – Bill Drayton. He was the first to recognise and support social entrepreneurs, dubbing them change-makers. 


Betsy Ings, 28 March 2016  Share  0 comments  Print


Related stories


All the answers to your unique business lifestage questions

How do thesechange-makersestablish a social enterprise? They take the goal of creating social impact to a new level by using innovative methods to organise, manage and measure a venture. They have a triple bottom-line approach of seeking financial, social and environmental impact simultaneously. 

Related: 9 Billion reasons for rural women and youth to become economically active

Florence Nightingale

The idea of social entrepreneurship is not new - Florence Nightingale for example revolutionised nursing. She did not only set up the first professional school for nurses, but she also raised nursing to the level of a respectable profession for women and transformed the way hospitals were built. 

Creating new business models

Starting with any new business is daunting, but social enterprises have to create new business models that meet the needs of the marginalised more effectively and if not profitably, at least sustainably. They have to focus on lower cost structures, more efficient delivery and often combining market and non-market approaches through a blended revenue model. 

How to develop a viable social enterprise

The following guidelines will give social entrepreneurs direction to develop and grow a viable social enterprise:

  • Rationale – Have a sound rationale for starting a social business. Integrate the motivation, idea generation and formation process and unpack it in great detail.
  • Research – The idea must be explored through exhaustive research, testing and feasibility studies.
  • Business plan – Draft a rigorous business plan to guide and inform. Adapt the business plan to different audiences.
  • Clarity – Clarify the business strategy, the social need and how it will be met.
  • Measure – Measure your impact with quantitative data, showing the quality and reach of your initiatives.
  • Staff – Staff is vital. Do a realistic capability analysis and build a strong support structure.
  • Compliance – Legal structures and compliance is critical for good corporate governance. Get appropriate legal advice for your specific situation.
  • Sustainability planning – This is critical from costing the service/product offering to exploring the various sources of start-up capital.  

Redefine success – a case study

B Corp is an USA based non-profit organisation that helps entrepreneurs around the world to use their businesses to solve social and environmental problems.

Related: Building your business foundation with the right financing

It provides Benefit Corporation Certification to businesses that meet specific standards of accountability, sustainability and transparency. They provide analytics for assessing impact and are working on passing legislation that supports companies/B Corps that use their business as a force for good. 

Read more at www.bcorporation.net

Rate It12345rating

About the author


Betsy Ings

Betsy Ings is the founder and MD of Tradelane Training & Project Management and Siyaloba Training Academy. Tradelane’s vision is to make a sustainable impact on the economy by promoting growth of small enterprises, youth and women entrepreneurs. She finds solutions through their 3-enabler approach - knowledge and skills through training, mentoring/coaching through individual, peer/group sessions and financial linkages through partnerships. Betsy is an internationally accredited programme provider/facilitator to various United Nations organisations. Contact details: [email protected], 072-340-3398 or www.tradelane.co.za

Introducing the payment solutions for the on-the-go small business

Business owners who are on-the-go need mobile payment solutions to help them in their day-to-day customer transactions.  Leigh Livanos, Head of Payments, Collections & Cash for Business & Commercial Banking discusses how Standard Bank can assist your business with mobile solutions.

Login to comment