Factors Influencing the Development of Social Entrepreneurship in Bangladesh

Abstract

Social entrepreneurship (SE) is a contemporary phenomenon of the socioeconomic development of a country. It refers to the creation of solutions of social problems through creating innovative ideas, increasing social value, and consistently pursuing new opportunities for the benefits of the society rather than private wealth creation. The main motives of social entrepreneurship are social welfare and value creation through the display of innovativeness, leadership, and risk management of the business. The aim of this study is to identify the factors affecting the development of social entrepreneurship in Bangladesh. It illustrates the context-specific nature of the phenomenon and derives implications for fostering the social entrepreneurship as a positive force for social and economic development. Several important factors, which contribute to the success of the social entrepreneurship, are social welfare and value, non-profit motives, knowledge, skills & experiences, innovative ideas, ethics, social network, leadership, local and governmental policies, institutional support, etc.

Keywords: Social Entrepreneurship, Determinants of Social Entrepreneurship, Social Innovations, Social Value, Social Business