Tuesday, August 09, 2016

Are there ways to reduce unemployment as social entrepreneur?

Q. Are there ways to reduce unemployment as social entrepreneur?
What are the possible solutions can a social entrepreneur do to counter unemployment in his or her country? Can social entrepreneurship solve unemployment? Is so then what are the ways and methods to do so?
PS: I’m a trader and investor in Malaysia.


I think your question answers itself. Social entrepreneurship is one way to reduce unemployment, first by hiring people to work temporarily in the enterprise and secondly by making designing those jobs as a kind of training and work experience that can serve in the labor market to obtain longer lasting and sustaining work.

The typical social enterprise in the United States is an operation that is a for-profit subsidiary of a nonprofit.

For example, Homeboy Industries began in 1992 as a ministry by a Jesuit priest to help assist high-risk youth, former gang members and young newly released ex-convicts with mental health counseling, legal services and work-readiness training services. Fr. Greg Boyle, SJ, the founder, whom I met briefly, realized that the best way to get these young people redirected into sustaining jobs was to develop businesses in which they could work and learn to show up on time, not tell off the boss and also acquire a particular marketable skill.

The group started Homeboy Bakery, Homegirl Café & Catering, Homeboy/Girl Merchandise, Homeboy Farmers Markets, The Homeboy Diner, Homeboy Silkscreen & Embroidery, Homeboy Grocery and Homeboy Cafe & Bakery, all for-profit outfits that sell goods and services produced by the people Boyle initially intended to help.

Stories such as these are more prevalent in wealthier economies, in which there is a large consumer market, than in poorer ones. However, innovations such as microfinancing, an entrepreneurial idea that I understand has been fabulously successful in Bangladesh, are examples of what can be achieved.
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