Daily Management Review

10 best countries for social entrepreneurship


Social entrepreneurship is gaining momentum around the world, and many experts are confirming that this sector is growing. Nevertheless, activities of social entrepreneurs remain a mystery for most people, which, in turn, hinders business development, which is aimed at addressing the most pressing social problems.

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Lack of awareness in society is not the only problem. Social entrepreneurs from different countries are also faced with limited access to investment and problems of doing business with state institutions.

Thomson Reuters Foundation conducted an online survey of nearly 900 experts in the field of social entrepreneurship in 45 countries with the largest economies. The organization interviewed researchers, social entrepreneurs, investors, government officials, and so on, and made a rating of countries with the best conditions for social entrepreneurship.

Top 10 countries with the best conditions for social entrepreneurs

1. United States

2. Canada

3. United Kingdom

4. Singapore

5. Israel

6. Chile

7. South Korea

8. Hong Kong

9. Malaysia

10. France

The main things evaluated by authors of the study are state support of social entrepreneurship, ability to hire qualified staff, public awareness of social entrepreneurship, profitability of this business, pace of development of social entrepreneurship in the country, as well as access to investment.

According to Thomson Reuters Foundation data, social entrepreneurs in South Korea enjoy the greatest support from the state. Singapore and France took second and third places, respectively. 

Social entrepreneurs located in the US have least problems when hiring staff with necessary skills. Second and third place by this criterion were taken by France and Germany.

Society in Israel is the most aware what is the essence of social entrepreneurship. The second place was shared by Chile and Venezuela.

There are more than in other countries opportunities to earn a living through social entrepreneurship in Canada. The UK and Indonesia took the second and third place respectively. 

Canada is also leading in terms of growth of social entrepreneurship. The United States and Singapore occupied 2nd and 3rd places respectively.

Social entrepreneurs in these countries have the easiest access to investment: the best on this parameter was Canada, Singapore in second place, the United States - on the third.

In general, according to experts, social entrepreneurship is gaining momentum around the world. 85% of respondents said that this sector is growing.

At the same time, almost 60% of respondents noted a lack of public awareness about the business, which is aimed at solving social problems. In addition, there are difficulties with access to investment and problems with sale of goods and services to state institutions.

About 68% of the experts said that women are well represented in the management of social enterprises, but only 48% of respondents noted that women are paid the same as men.

source: businessinsider.com

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