EMPOWERING SOCIAL ENTERPRISES: COMPREHENSIVE STRATEGIES FOR SUSTAINABLE COMMUNITY DEVELOPMENT
Keywords:
Social Enterprises, Social organizations, Comprehensive Strategies, Sustainable Community DevelopmentAbstract
This academic article was intended to present empowering social enterprises: comprehensive strategies for sustainable community development. The study findings revealed that: The comprehensive strategy for supporting social enterprises included the establishment of a dedicated institution offering funding, mentorship, and global collaborations. Educational enhancements integrated social business practices and promoted student-led enterprises, utilizing research findings for advancement. Policymakers aided local adaptation, financial support, and knowledge sharing, bolstered by public awareness. A conducive business environment ensured stable regulations, financial accessibility, and innovation encouragement. Social impact bonds secure crucial funding, emphasizing predefined social outcomes. Diverse funding sources were facilitated through government allocations and collaborations, enhancing enterprise growth. Legislative changes enabled state funding and donations for efficient social enterprise fund management, fostering a thriving ecosystem. New knowledge has been acquired in the form of 4E-3S-G, as (1) E: Establishment of Social Enterprise Institution. (2) E: Educational Development and Research Utilization. (3) E: Expanding Social Impact. (4) E: Environment of Conducive Business. (5) S: Support of Market Entry. (6) S: Social Impact Bonds. (7) S: Sources of Diverse Funding. (8) G: Government Support for Social Enterprise Funds. Solving problems and promoting social enterprises contributed to the sustainability of the local community. Empowering social enterprises through comprehensive strategies.
It was found that the proposed strategy involved establishing a dedicated institution for social enterprises, integrating educational enhancements, utilizing research findings, and implementing policy changes. A conducive business environment was fostered through stable regulations and financial accessibility, with Social Impact Bonds securing funding. Diverse funding sources, legislative changes, and government support created a thriving ecosystem, empowering social enterprises for community sustainability.
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