Friday
June 26
2020

Post-Pandemic Funding Solutions for Struggling Social Entrepreneurs

By Anna Clark

Small business owners across the United States are confronting the fact that financial help from the federal government, if it comes at all, may not be enough to weather the COVID-19 crisis. Economic fallout from the pandemic and the specter of a recession pose threats to every entrepreneur, especially to those in the business of creating social impact.

When social entrepreneurs lose, society loses. These are innovators focused on developing programs and products to create public benefit or protect public goods such as the environment, education and community well-being — and many rely on philanthropic support to get the traction necessary to turn profits. But in an economy where both donors and consumers are conserving financial resources, social entrepreneurs must become ever more agile in how they fund and conduct their work if they are to succeed.

Photo courtesy of Diego Gennaro.

Source: GreenBiz (link opens in a new window)

Categories
Coronavirus, Entrepreneurship
Tags
behavioral economics, coronavirus, education, poverty, SMEs, social entrepreneurship, social impact