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What is social Business?
A social business is a non-dividend company dedicated entirely to achieve a social goal. In social business, the investor gets his/her investment money back over time, but never receives dividend beyond that amount. The sole purpose of the business is to solve a predetermined social problem in a sustainable way.
The 7 principles of Social Business are:
- Business objective will be to overcome poverty, or one or more problems (such as education, health, technology access, and environment) which threaten people and society; not profit maximization.
- Financial and economic sustainability
- Investors get back their investment amount only. No dividend is given beyond investment money
- When investment amount is paid back, company profit stays with the company for expansion and improvement
- Gender sensitive and environmentally conscious
- Workforce gets market wage with better working conditions
- ...Do it with joy
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