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What actually is a “social business” ...?

When social and entrepreneurship or social and business are used in one phrase together, confusion often arises. Linguists use the term oxymoron to a phrase that combines two contradictory terms. This is the case for “social” and “business” as they are supposed to come from two different worlds.

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This contradiction is quickly resolved, if we think over that an economic activity has always "social" impact. That means people use economic measures to achieve certain societal goals. Even better when economic activity is set around social pillars, putting people and planet at the center.

Entrepreneurship has two components for us: On the one hand, it means innovation. On the other hand, for us entrepreneurship is an attitude that can be characterized as a business mindset. Innovations can support people or organizations in different areas. For example, product innovations, service innovations, social innovations, structural innovations, regional innovations, or process innovations. People with a business mindset like to take a risk, develop solutions to a problem, see demand or need, go ahead with responsibility and build sustainable structure.

Social entrepreneurship has therefore a simple function: wanting to solve a societal problem with an entrepreneurial approach or attitude.

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