What Is The Role Of Social Entrepreneurship In Pakistan?
Social entrepreneurship is one of the fastest growing fields in the world, which helps boost society with growth in the economy of a country. Social entrepreneurship basically helps to progress the society with the generation of wealth and employment. Social entrepreneurship is taking root in Pakistan, but growth is still moderate. It is very important to deal with problems that are related to this field as it can help boost our economy. The aim of the “Lift Pakistan” conference also includes improvement in this particular area.
Here, in this article we will discuss the role of social entrepreneurship, hurdles in the way and find new solutions.
First of all, lets discuss the imperative role social entrepreneurship plays.
1. Job Creation
As we discussed earlier, social entrepreneurship can help a society in terms of social value as well as generating wealth and jobs. It can play a vital role by providing jobs to the unemployed, which will ultimately boost the economy. The Govt should dive further into this field. Many entrepreneurs are helping create wealth in Pakistan such as; Amir Rao, Noorain Khan, Nabiha Sayed and many more.
There are always new ideas in the field of social entrepreneurship. It creates novel ideas which may help to produce employment and boost the economy. The financial and social issues in Pakistan can be overcome through these new ideas. It basically involves the problems of society and how they can be dealt with by innovative ideas. There are many impressive business ideas by Pakistani entrepreneurs such; as Hashoo foundation, YES, etc.
3. Poverty easing
Social entrepreneurship helps eradicate poverty by creating employment in a country. A huge number of poor people can earn more by seeking a job. Social entrepreneurs basically give an equal and just environment to the people where they have equal chance to earn. It helps to raise the standard of living. There are approximately 5 lac social entrepreneurs working in Pakistan, and it also positively effects economic conditions.
4. Social Values
Social entrepreneurship helps increase social values in a society. It’s a source of inputting the values among the members of society. It would be more helpful for a developing nation like Pakistan. There are many social entrepreneurs in Pakistan whose work is effectively changing the lives of people on an individual scale as well on the community level. This includes work by social workers such as; Sarim Burni, Faisal Edhi.
5. Work for environment
Social entrepreneurs may also work for the betterment of their environment by starting projects which are beneficial. They may introduce new ways to dispatch the waste or plant trees etc. There are projects which are running in Pakistan such as the “clean and green Pakistan” initiative.
These were a few roles played by social entrepreneurs. Now, we turn to the hurdles faced by these entrepreneurs and look further to find solutions.
1. Lack of funding
Lack of funding is a major issued faced mostly by entrepreneurs. Pakistan is a developing economy so there are certainly issues related to funding. There should be some programs which support the field by govt and private sectors.
2. Duality Of Work
As we discussed above, social entrepreneurs carry out two jobs at a time. One is to provide society with values and second is to generate employment. It is often – times difficult for the person to work dually. Good management skills can be used to deal with this problem.
3. Lack Of Strategy
A lack of strategy influences a business significantly. So, if it is not effective then surely disaster is waiting for you. An entrepreneur should take help of experts to construct an effective strategy.
4. Doubt Issues
Mostly, the public doubts the intentions of social entrepreneurs. So, it becomes a bit difficult for them to survive in this field. If they give customers information about where their money is going then there are chances to grab more investment.
5. Lack of communication
Sometime the entrepreneurs fail to convey their message effectively to the public or investors. There should be new and effective ways to convey messages to investors.
6. Human resource
There are also issues in training people about the cause. Usually this occurs at the initial stage of business. We can find new ways to deal with it.
So far, we reviewed a few issues with solutions.
As discussed earlier LIFT Pakistan is arranging a conference in which entrepreneurs from all over the country are participating. It will be a good chance to provide help to social entrepreneurs or patch up with them to start a new project. This conference will be held between 15-18 December.
You can play your part in LIFT – Ing Pakistan by spreading the word, and brining your business where the action is.