Social entrepreneurs require motivation to keep marching towards their goals. Often, they suffer a lot during the start and need support to stay focused. They require financial support, exposure, technical support, and solidarity to remain operational. These forms of support can be sought in different places.
Getting Funding
Funding is one of the most important factors in running any business. There are grants that are offered by philanthropic bodies, government bodies, and charitable organisations. These bodies invest in the social outcome of the business and do not require any financial return. Social entrepreneurs need to stay on the lookout and approach these bodies to seek funding.
Investment Funding
Some social business models can generate profits and sustain themselves. This helps them to get the attention of debt investment funding and traditional equity. There are many businesses that invest in social enterprises. Some of these include establishments like Angel Investors, seed funding firms, and venture capital funds
Social Media
Social entrepreneurs need to expose their business to people to get customers. What better way than using the most populated platforms in the world? The majority of the people in the world now have smartphones and are often on the internet.
Social enterprises should do self-promotion regularly to let people in on what they offer. This will lead to an increase in customers and profits. Social Media can also expose an organisation to helping hands who are willing to pump in funds.
