How Companies Should Respond As Social Business Goes Global

Tuesday, July 14, 2015

Social business has been known as a systemically defined business practice for tackling poverty and is blossoming in every corner of the globe including China, the world’s second largest economy.

Last month, the first pan-China Social Enterprise and Social Investment Forum was held in Shenzhen where social investors, practitioners, advocates and policy makers shared their views on how to fight poverty by combining social and business goals, instead of incorporating mission and structure-defined entities.

The forum was initiated by Narada Foundation’s Xu Yongguang and Canyou Group’s Zheng Weining.

Zheng said social businesses should be operated by companies that care about social problems.

Liang Chunxiao, former vice president of Alibaba Group, described a social business as any enterprise that links social needs and markets.

It can be internet companies that provide financing and an operating platform to SMEs.

Hu Jinxing, chairman of More Love Foundation, said social businesses should serve both commercial and public interests.

Source: EJ Insight (link opens in a new window)

microfinance, poverty alleviation