What are social enterprises? Is it okay to support them? Businesses today are increasingly seen as having the potential to change the world for the better, especially those with a clear social purpose. With environmental and community development efforts becoming more integrated into business strategies, consumers are being given the opportunity to make choices that support positive change. In the Philippines, where social issues like economic inequality and environmental challenges are prominent, it’s an exciting time to discuss the role of purpose-driven businesses and how they offer both hope and opportunity.
As someone actively engaged in both business and social enterprise through Varacco and ThinnkFarm, and having attended recent forums like the “Food is Everyone’s Business” event by the Makati Business Club and the Mindanao TBI Summit in Davao, I’ve seen first-hand how purpose-driven companies bring energy and optimism to their missions. By aligning sustainable business practices with social initiatives, we are seeing more businesses make it their purpose not only to turn a profit but also to address meaningful issues in their communities. A growing trend: Social entrepreneurship in the Philippines In the Philippines, the concept of “business for good” has gained significant traction over the last decade.
Social enterprises — businesses that aim to address social problems while earning a profit — are becoming increasingly visible. This trend was under.