Social Entrepreneurship and Community-Based Economics: Building Sustainable Futures

Abstract Social entrepreneurs facilitate social changes by developing new ways to address community problems. In contrast to regular business owners who are focused on the income aspect of entrepreneurship, social entrepreneurs embrace the social change agenda and apply for-profit and nonprofit models to create more socially impactful business through ethical behaviors, such as impact investing and corporate social responsibility. When we speak of community social entrepreneurs, there are focused on the needs of a small geographical area, generally the community where they live. In this case, the precise nature of their entrepreneurial work is less important than the fact that it will benefit their community. Community social entrepreneurs work collaboratively to ensure that the needs of the community are met and that partnerships of value can be formed. Socially minded investors vet new investments based on environmental, social, and governance (ESG) criteria.