Social Entrepreneurship as a Tool to Promoting Sustainable Development in Low-Income Communities: An Empirical Analysis

Miklas Pascal Sauermann

MPRA Paper from University Library of Munich, Germany

Abstract: Social entrepreneurship has emerged as a critical driver for promoting sustainable development in low-income communities facing pressing social and environmental challenges. However, the factors that contribute to the success of such initiatives and the obstacles faced by social entrepreneurs remain poorly understood. This study employs a mixed-methods approach, drawing on data collected from surveys of 60 community members and interviews with 20 social entrepreneurs operating in low-income communities to examine the role of social entrepreneurship in fostering sustainable development. The results reveal that successful social entrepreneurship initiatives in low-income communities require strong leadership, community engagement, funding accessibility, and adaptability. Moreover, social entrepreneurship has the potential to advance sustainable development through the provision of innovative solutions to complex social and environmental problems, the promotion of local economic development, and the enhancement of community resilience. However, the study also highlights several challenges social entrepreneurs face in low-income communities, including navigating complex regulatory environments, securing funding, and establishing community trust. Addressing these obstacles requires collaboration between social entrepreneurs, policymakers, and other stakeholders, as well as the development of tailored support mechanisms that address the unique needs of social entrepreneurship initiatives.

Keywords: Social Entrepreneurship; Sustainable Development; Low-Income Communities; Impact Assessment (search for similar items in EconPapers)
JEL-codes: L31 Q01 (search for similar items in EconPapers)
Date: 2023-03-27
New Economics Papers: this item is included in nep-env, nep-mac, nep-mfd, nep-sbm and nep-ure
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https://mpra.ub.uni-muenchen.de/117053/8/MPRA_paper_117053.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:116929

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