Revenue-driven organizations, their mission is focused on financial performance. For social impact organizations, their mission includes financial performance but adds an important extra element – supporting an altruistic cause that has a broader impact on society. If you are an entrepreneur that wishes to make a positive contribution to the world, here are 10 reasons to start a social impact startup:
1. Change the world for the better
While this sounds obvious, social entrepreneurs really can change the world for the better via their business. There are so many challenges to address in the world, from closing the digital gap so that any child can receive an education no matter their background, to facilitate financial services to underdeveloped countries, to name just two. What are you passionate about?
2. Address challenges brought by the current pandemic
One of the most obvious challenges that have affected all of us, is the effect the pandemic has had on every aspect of our lives. The arrival of COVID has had a great impact on people and society in general, and now more than ever, individuals need guidance, support, and encouragement, a message that resonates with them. Whether it’s in the field of healthcare, online communication, or edtech, this is an opportunity to make an impact.