This is a summary of a blog post originally published on the blog of our partners at the HerMeNow Accelerator on 22.04.2024.
In today’s evolving business landscape, many companies and entrepreneurs are integrating social impact objectives into their core strategies, creating social enterprises that aim to generate profit while addressing societal and environmental issues. These mission-driven businesses offer advantages such as purposeful work, market differentiation, and community development. However, they also face unique challenges, including balancing profitability with social goals, securing capital, measuring impact, and selecting the appropriate legal structure. Successfully managing a social impact firm requires a clear mission, sustainable revenue model, effective impact measurement, and strategic partnerships. As these enterprises grow, they prove that profit and purpose can coexist, shaping the future of business and society.
You can read the full article here
