SOCIAL ENTREPRENEURSHIP AS A CATALYST FOR INCLUSIVE GROWTH: A GLOBAL PERSPECTIVE

Abstract

Social entrepreneurship has become a revolutionary means of solving endemic social, economic, and environmental issues and inclusive development in varying global societies. This term paper will discuss how social entrepreneurship is enabled to contribute to inclusive economic growth considering its contribution to marginalized populations, job creation, and sustainable innovation in both developed and developing nations. The research design used in the study is mixed-method research design which incorporates quantitative data through global development reports, the enterprise performance indicators and employment statistics along with qualitative information which is achieved through structured interviews and case studies of certain social enterprises. The results show high regional differences in growth and performance of the social enterprises with the developed economies enjoying the advantages of better institutional support, availability of capital, and facilitating policy frameworks and the developing regions experiencing structural barriers through insufficient funding, regulatory pressures, and supportive entrepreneurial ecologies. Nevertheless, these problems have not slowed down social entrepreneurship that has been able to make quantifiable impacts in reducing poverty, enhancing social inclusion, boosting women empowerment, and strengthening communities through a combination of market-oriented approaches and social impact goals. Also, the perceptions of stakeholders suggest that as far as investors and policymakers focus on the issues of scalability and financial sustainability, beneficiaries focus on accessibility, affordability, and long-term benefits of communities. The paper also identifies strategic interventions that are needed to realize the inclusive potential of social entrepreneurship that includes enabling supportive regulatory policies, impact investment processes, capacity-building processes, and cross-sector alliances. This paper places emphasis on the ability of social entrepreneurship to close the socio-economic disparities to enhance sustainable development by offering a comparative global experience. The analysis will provide useful information to policymakers, development agencies, investors, and practitioners that will use innovative, mission-oriented enterprises to enhance inclusive growth models. The results can be used in the growing body of knowledge regarding sustainable development and inclusive economic systems by providing evidence-based suggestions on how to incorporate social entrepreneurship within mainstream development policies.