In Ukraine the quantity of charities and public organizations is growing a few last years. These organizations do not bring money themselves, but attract them through donations or grants. However, they increasingly need self-financing.

Such organizations do not earn money themselves, but they attract money through donations or grants. However, even they increasingly have the need for self-financing.

Social entrepreneurship (SE) is a new business model that is a hybrid between non-profit organizations and classic business. The activity of such entrepreneurs is aimed at solving socio-economic and environmental problems. And the main difference between a joint venture and a regular business is that their first priority is social mission or value, and profits can be partly directed to social goals. At the same time, social entrepreneurship contributes to the development of society through the introduction of innovations, stimulates self-development and teaches helping itself and the environment.

With the reduction in the quantity of jobs, people need to look for other ways to provide for themselves and to solve other issues that were previously handled by government agencies. In search of work and a better life, people go abroad, but not everyone is lucky there, and it is not always easy to leave, leaving their relatives at home, which need of care and attention. Therefore, now, when there is a deterioration in the socio-economic situation, such tool as social entrepreneurship may become a very effective means of preventing or solving many problems.

If businessmen of the city calculate how many among their employees are those who receive subsidies for low-income or for large families, as well as for single mothers, then it may turn out that the activities of many of them have already become social.

How to determine if business activity is social? The WNISEF * Foundation considers entrepreneurship may be social if 1 of the criteria is fulfilled:

  1. 20% of profit is deducted for charity or other social purposes.
  2. 50% of employees belong to socially vulnerable categories of the population.
  3. Less than 50% of employees from socially vulnerable categories and 10% of profits are paid to charity or solving social problems.

The people from socially vulnerable categories are all those who have documents from the social security service, as well as retirees. A complete list of those categories is easy to find on the Internet. Entrepreneurs whose activities have been registered in business for more than 1 year and have an established business model or at least a detailed business plan that can prepare documents and receive grants to develop this activity.

In addition, the WNISEF Foundation provides loans with good conditions to social entrepreneurs and nongovernment organizations. Their conditions are: the amount of 10,000 to 100,000 USD in Ukrainian hryvnia, up to 36 months, and the rate of 5-10% per annum. You can already make a decent list of those who received them. Preparation of documents and consideration of an application for such a loan or grant will take several weeks, but with this money you can save jobs, develop the company or open a new business project. Therefore, these benefits of social entrepreneurship should be aware and use them.

* For reference: The WNISEF Foundation funds innovative, high-performance projects aimed at implementing reforms and changing the lives of ordinary people in Ukraine and Moldova. The most famous companies that have received support from this fund are Pizza Veterano in Kiev and the My Atelier Brand in Dniepr, as well as many other companies in different regions of Ukraine.



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