Social entrepreneurship

The concept of social entrepreneurship is innovative but not new. Social entrepreneurs have always been out there, running impactful businesses with a vision that goes beyond profit maximization.

Muhammed Yunus - Nobel Peace Price and pioneer of social entrepreneurship - was the first to build a structured framework for social entrepreneurs to follow by setting in stone 7 core principles:

• Social enterprises need to have as a business objective to overcome poverty, or one or more problems which threaten people and society, not profit maximization
• Social enterprises must attain 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
• Social enterprises must be gender sensitive and environmentally conscious
• Social enteprises must provide their workforce with market wages and fair working conditions
• Entrepreneruship should be done with joy!

Since the start of its operations, (B)energy has been strictly following the teaching of Muhammed Yunus and the seven principles of social entrepreneurship. This has helped the company build a unique brand identity and gain the trust of independent entrepreneurs across the globe.

The Economy for the Common Good (ECG)

Social entrepreneurship is a growing movement worldwide, in the Global South as much as in the industrialized countries. A growing number of entrepreneurs are understanding that private businesses can do more than simply generate profit. The Economy of the Common Good (ECG) brings together these change-makers and provides them with frameworks to evaluate an enterprises' performance and contribution to the livelihood of its stakeholders. In other words, the ECG is an economic model, which makes the Common Good, a good life for everyone on a healthy planet, its primary goal, and purpose. At the heart of this concept lies the idea that values-driven businesses are mindful of and committed to:

• Human Dignity
• Solidarity and Social Justice
• Environmental Sustainability
• Transparency and Co-Determination

The ECG is actively working to get more recognition for social entrepreneurs and, in a near future, enterprises could be able to use ECG's point system to access tax reductions, receive better conditions on loans, preferential treatment in public purchasing, and more.

Here at (B)energy we believe that the ECG presents a valid alternative to the current neoliberal model, which has ultimately failed to benefit people and the planet for the sake of profit maximization and economic growth. (B)energy is currently drawing up its Common Good Balance Sheet, which will be submitted in 2022.