Head - Global Enterprise and Operational Risk Management Technology and India Risk and Finance Technology Credit Suisse
No social enterprise operates in a vacuum. Many interdependent systems, institutions, and networks enable social enterprises to flourish. While the availability, flexibility, and conditions of funding may determine which organizations grow and thrive, and which fail to get past the initial idea phase; enabling organizations like Universities, independent research organizations, and other institutions support social enterprise by evaluating the impact of different models and disseminating relevant research findings. Peer organizations also form a crucial part of the social enterprise ecosystem. To build a more conducive ecosystem for social enterprises, the support of the government is key.
Social enterprises should, in fact, be natural allies for governments, as their primary goal is to improve service delivery or the lives of the poor with little to no strain on public resources. There is a need for various tools that can be deployed to support and engage them, including crowdsourcing, public-private partnerships, social impact bonds, and other result-based financing tools.
Reaching the last mile requires being innovative in driving down costs and coming up with new, sustainable solutions to old service delivery issues. Social enterprises can play a significant role but we need to improve their playing field.
- What are the 2 positive developments that you have witnessed that are working in favor of the social enterprises to flourish?
- What is the role of the corporate sector in supporting the growth of social enterprises?
- How vital are the non-financial areas of support that Social enterprises require?