Opportunities of Social Entrepreneurship in Bangladesh
The field of social entrepreneurship is expanding swiftly and attracting prolonged consciousness from many sectors. The term is frequently shown in the media, is referred to by public administrators, has now become familiar on university premises, and notifies the policy of several prominent social sector organizations.
Social entrepreneurship is all about identifying social predicaments and executing social development by employing some dedicated people to determine the obstacle. Social entrepreneurship indicates the imperative to stimulate social change, and it is that inherent payoff, with its enduring, transformational advantage to the community, that sets the field and its practitioners apart.
In Bangladesh, the term “social entrepreneurship” was a vague concept a few years back. But the good thing is this term is getting widespread day by day. Many people are getting interested in it. Now the question is since when this idea started becoming viral? It mainly went viral in 2006, when Muhammad Yunus won the Nobel prize.
The problems Bangladesh is facing currently are complicated. Bangladesh has a steady economy with a 6% GDP rate but still faces challenges from hunger, climate change, and unemployment. As a result, some change-makers are adopting social entrepreneurship as an innovative approach to stop social problems while also guarding financial sustainability. Now, social enterprise is one of the prominent growing sectors in our country. These enterprises are following the path of the two preceding social entrepreneurs BRAC and GrameenBank.
A study shows that the social entrepreneurship in Bangladesh is mostly led by young people, with many of the leaders aged below 35. The research also found that 90% of social enterprises are working with socially and economically disadvantaged associations. They are serving the disadvantaged people by ensuring their employment. As an example, we can take Biddyanondo. They are not only assisting the disadvantaged people but they are generating possibilities for them to earn something.
Nowadays, the term “social entrepreneurship” is becoming more familiar as the government is facilitating them. Moreover, our government is encouraging people to be social entrepreneurs. The most popular government-led social enterprise is the SME Foundation.
So, what are the possibilities our country can provide for social entrepreneurs?
– There are many domains for functioning. Bangladesh is a developing country and has numerous problems. So, it is very easy for social entrepreneurs to select their field to operate.
– Then comes education and, to lesser extent healthcare, are also attracting entrepreneur consideration. Social entrepreneurs are focusing on these sectors to progress. They are introducing low-income private schools.
– Energy is another domain that is frequently seen as a growth opportunity for social entrepreneurs. As the current energy requirements are not being suitably adjusted and also expensive for some people, renewable energy is a very good choice.
– Another possibility is handicraft items. It can change the destiny of women in this country. In rural areas, many handicraft items are popular amongst foreign sightseers. Some social entrepreneurs are working with them, and they are getting huge facilities and also developing the future of rural areas.
Today in Bangladesh, some popular social entrepreneurs are working for the betterment of disadvantaged people. They are now medium or small organizations but they have the potential to be a large one in the future.