One in four start-ups motivated by social purpose or cause
Despite rise in social entrepreneurs, a significant number are struggling to access relevant support
At least one in in four British entrepreneurs have started a business because of the desire to have a positive social or communal impact, according to research from the National Enterprise Network in partnership with UnLtd.
The study found that 27% of people which have approached enterprise organisations are aiming to start a company with a social purpose or cause.
While mainstream enterprise organisations support entrepreneurs motivated by social objectives, 9% of those seeking advice said they were not able to access the relevant support needed to develop and sustain their business goals.
The research is an encouraging sign that social entrepreneurs are becoming increasingly mainstream, but highlights the need for relevant support to be made readily available such as legal forms, access to social finance and volunteers as UnLtd CEO, Cliff Prior, explained:
“There’s a swell of people stepping up to tackle some of society’s greatest problems with entrepreneurial solutions – but they need the right support to start well and thrive.
“We want enterprise organisations to ensure social entrepreneurs get off to the best start, and this research shows that even more can be done to ensure that potential social entrepreneurs can access the support they need.”