Social enterprises need gov't, business help: study

ABS-CBN News

Posted at Nov 06 2017 12:45 PM

MANILA - Entrepreneurs who seek to empower marginalized sectors need support from the government and the business sector to make an impact, according to a British study.

There are about 164,473 social enterprises in the Philippines that help women and other sectors, according to the British Council Philippines called “Reaching the Farthest first: the State of Social Enterprise in the Philippines."

“It’s called a business for social change, it’s quite a hybrid when you look at the different roles they play in society, social entrepreneurs are born out of a need or a social problem as seen in that community,” Maria Angela Flores, head of society British Council Philippines told ANC.

Social entrepreneurs are seeking help from government to create a roadmap and the business sector to gain more knowledge and access to funding.

“It’s almost always financial, refining business model and business skill, so we can say that from the research, there’s a need to support social enterprises so they can further their social impact and this means that learning from the business sector is very critical,” Flores said.