The Impact of Social Entrepreneurship on the Sustainability of Selected Small and Medium Enterprises in Nigeria (original) (raw)
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Understanding Social Entrepreneurship in the African Context
Advances in Logistics, Operations, and Management Science
Social enterprises are organizations created with the aim of applying entrepreneurial skills and innovations to solving social problems. They are managed by individuals who combine pragmatic and result-oriented methods of a business entrepreneur with the goals of a social reformer. Such enterprises combine resources in innovative ways to create social value in and for the society. However, social enterprises may face challenges that impact their ability to accomplish social goals. For instance, when confronted with the harsh realities of economic recession, teaming poor population, and the need to profit for social intervention, social enterprises existing in hostile economic environment in developing countries may face possibilities of shutdown. This chapter examines the concept of social entrepreneurship in a subsisting economy in Africa. Specifically, it draws from relevant primary and secondary data to explore the nature of social entrepreneurship in the Nigeria context and the potential role that social entrepreneurship can play in addressing social problems.
Social Entrepreneurship and Sustainable Development
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Business entrepreneurship activities in Nigeria has been on the increase, causing changes and boosting economic development to some existent especially in the provision of self employment and earning profit only. But to meet the challenge of sustainable development we require social entrepreneurship which is the application of entrepreneurship attributes of creativity, innovation and motivation combined with the drive to solve the most pressing social problems in the society. The study evaluated the contributions of social entrepreneurship and its core elements in sustainable development using a cross section of entrepreneurs and interest groups from Imo and Abia States. While simple correlation analysis was used to process the data. It was revealed that social entrepreneurship has not contributed effectively to sustainable development due to low level of creativity and innovation in our entrepreneurs Also, this has adversely affected development of women and rural areas. It is therefore recommended that entrepreneurship programmes should not just focus on business-profit and wealth creation but improvement of citizens creativity and innovativeness capability. This will facilitate sustainable development.
International Journal of Entrepreneurial Development, Education and Science Research | IJEDESR ISSN Hard Print: 2360-901X | ISSN Online: 2360-9028 | Volume 4, Number 2 August, 2017, 2017
his paper investigated and shed light on how social entrepreneurship enables T economic opportunities for the poor, thus eliminating social and economic problems in society. It also attempts to better understand the role of social entrepreneurship in enabling economic opportunities for the poor. To achieve the purpose, possible links through which social entrepreneurship enables economic opportunities are developed based on a survey of the literature. Data were collected through the use of the questionnaire. Using the descriptive survey method, random simple sampling technique was basically Spearman's Rank Correlation. The hypothesis was formulated. From the result, the model showed that social entrepreneurship has a positive significant impact on the economic opportunity for the poor as a measure (p-value (0.013) of the spearman's rank correlation is less than 0.05). The study recommended that individual and the government need to work hand in hand to promote social entrepreneurship and wealth creations.
Sustainability
Social entrepreneurship has gained increasing attention as a means to address social problems, including poverty, in Nigeria. Poverty is a major challenge in Nigeria, with a poverty rate of over 40%. Poverty alleviation is critical to achieving sustainable development in the country. Social entrepreneurship can play a key role in addressing poverty by creating jobs, providing access to goods and services, and promoting economic growth. Hence, this study examines bolstering the impact of social entrepreneurship and poverty alleviation for sustainable development in Nigeria. The research focuses primarily on fostering economic, social, and environmental improvements, as well as improving people’s lives. Three hypotheses were formulated to help accomplish the primary objectives of the study. The Opportunity-Based Entrepreneurship Theory, Social Network Theory, and Schumpeterian Theory of Innovation were used to explain the objective of the study. In this study, a purposive sampling tec...
SOCIAL ENTREPRENEURSHIP: A NEW APPROACH TO COMMUNITY DEVELOPMENT IN NIGERIA
Social entrepreneurship is not a new phenomenon. Although the practice has always existed, for many reasons, the concept is gaining popularity in recent years. While the focus has been on business entrepreneurship as a tool for economic growth and development, the light is now on social entrepreneurship, which entails tackling pressing social issues using a sustainable business model. Community development efforts have met with various challenges and limitations that hamper sustainability. The emergence of social entrepreneurship as a hybrid approach and positive force for transforming communities suggests the possibility of dealing with the key challenges of poverty, unemployment, illiteracy, climate changes, health care challenges, insecurity and other social and economic issues. This paper throws light on who social entrepreneurs are, what they do and the role they play in achieving sustainable community development and democracy. Using a conceptual framework to show a flowchart of the community development process, the findings indicate that social entrepreneurship is a veritable tool for community development in Nigeria and can play a vital role for social and economic growth. The paper concludes with suggestive implication for policy and practice that could provide a better insight on the role of social entrepreneurship in sustainable community development.
The Role of Social Entrepreneurship in Enabling Economic Opportunities for the Poor in Nigeria
The interest for this research topic was developed from a class assignment in 2 nd sememster of my M.Sc program, the course titled ETR 750 (Social Entrepreneurship). Our first day in the class, our lecturer Prof. Adedapo, asked us to think of any social problem which we wish to solve, I came up with the idea to solve just two problems which are related but not the same, " poverty and unemployment " with the use social entrepreneurship approach. This paper aims to shed light on how social entrepreneurship enables economic opportunities for the poor, thus eliminating social and economic problems in society. It also attempts to better understand the role of social entrepreneurship in enabling economic opportunities for the poor. To achieve the purpose, possible links through which social entrepreneurship enables economic opportunities are developed based on a survey of the literature. The researcher also came up with a social enterprise model which will solve poverty Nigeria.
A Social Entrepreneurial Model from Nigeria
2012
Dees (1998) defines entrepreneurship as characteristic of people who adopt a mission to create and sustain social value; recognize and relentlessly pursue new opportunities to serve that mission; continuously innovate, adapt, and learn; act boldly and beyond their resources; and exhibit a high sense of accountability. He sees it as a solution to social issues left unresolved by government and philanthropists. Given the success of the social work carried out by Nike Davies Okundaye, a female Nigerian artist and entrepreneur, this paper investigates how her brand of social entrepreneurship measures up beside the extant literature, and whether it is replicable, especially in developing countries. If it is a good model, then it should be emulated and funding. The approach used is phenomenology (Moustakas, 1994), using secondary data about Nike’s work and parameters synthesized by Dees (1998) and Light (2005) seven years apart after deep analyses of the work of earlier scholars.
World Journal of Advanced Research and Reviews, 2021
Social entrepreneurship is not a new-fangled observable fact in Nigeria. Though the practice has constantly existed, for countless reasons, the concept is gaining reputation in current years. Although the focus has been on business entrepreneurship as a tool for economic development, the light is now on social entrepreneurship, which entails attempting to serious social issues for sustainable community development. Community development efforts have met with diverse challenges that hamper sustainability of the society. The appearance of social entrepreneurship as a cross move towards positive force for transforming communities put forwards the prospects of dealing with the key challenges of lack of support by government, deficiency of financial assistant, changing environment, out of pocket work, domination by wealthy founders and philanthropists, lack of skilled manpower, poverty, unemployment, illiteracy, climate changes, health care challenges, insecurity and other social and economic issues. This paper throws light on who social entrepreneurs are what they do and the role they play in achieving sustainable community development. Using a conceptual framework defined social entrepreneurs, characteristics, principles and role of social entrepreneurs towards community development process. The paper concludes with suggestive principles that could provide an enhanced insight on the role of social entrepreneurs in community development. To enhance their impact, social entrepreneurs should involve beneficiaries trapped within socioeconomic problems in the process of community development.
"Sustainable Entrepreneurship in Northern Nigeria: Building a Brighter Future."
Academia, 2023
This study article digs into the transformational influence of entrepreneurship in Northern Nigeria, stressing its dual function in encouraging economic success and increasing social well-being. It illustrates how entrepreneurship contributes to economic growth by producing job opportunities, helping micro, small, and medium-sized firms (MSMEs), and encouraging sustainable development. Moreover, the study emphasizes the vital significance of Islamic finance in supporting entrepreneurship, particularly among SMEs and microbusinesses, so contributing to socioeconomic wellbeing. The study also underlines the societal value of firms through sustainable and social entrepreneurship activities. Case studies highlight how entrepreneurial ventures raise the quality of life in rural communities, solving major socioeconomic concerns, including access to education, healthcare, and clean energy. Furthermore, the study article underlines the significance of joint efforts among academia, government, and industry participants in developing sustainable entrepreneurship. Cross-sectoral learning and adherence to best practices in collaboration are crucial for stimulating innovation, resolving societal challenges, and furthering economic growth. The role of cultural and sociological elements on entrepreneurship in Northern Nigeria, such as social and family networks, Islamic culture and values, gender norms, and ethnic and religious diversity, is also studied. To get finance for sustainable firms, entrepreneurs are urged to build comprehensive business strategies, locate relevant investors, demonstrate financial viability, and competently handle risks. The investment environment in Northern Nigeria involves traditional financial institutions, government efforts, investors, venture capital, crowdsourcing, impact investors, corporate partnerships and grants, international donations, family and friends, and Islamic finance.
2021
Poverty alleviation is one of the significant problems that social enterprise wants to solve. It could be absolute, relative, generational, situational, urban, or rural poverty in Africa. There are scanty literature and a shallow understanding of how technology intervenes for social entrepreneurship in a developing context. This study was conducted to address the identified gap. Quantitative method was used to gather data from the respondents utilizing Nigerian samples. This study used SPSS ver. 26 and Python for the descriptive statistics and 5 Likert Scales data analysis for 33 measurement items. The result shows that Nigeria’s social enterprise focused on social issues such as social vision, social need, social change, social goal, social value, social mission, and social efforts. The knowledge of SME owners’ insights on business start-ups in Nigeria and how social entrepreneurship could facilitate business growth and renewal is essential for future pursuit of social entrepreneur...