Youths in Nigeria Breathe Life Into Social Entrepreneurship

Youths in Nigeria Breathe Life Into Social Entrepreneurship

Upon purchasing an expensive ornament made of old corn husks, Olamide Ayeni-Babajide had an idea for Nigeria’s solution to its waste problem. In 2016, she started Pearl Recycling, which remakes solid waste like old tyres into furniture in Lagos, Africa’s most populated city with 21 million people and home to one of the largest garbage sites in the world.

The social enterprise, which is a business that aims to do good, is also looking into handling the unemployment problem for Nigerian youths. It trains hundreds of teens to recycle disused materials, with many of them going into setting up their waste ventures. According to Ayeni-Babajide, Nigeria is the right place for social entrepreneurs since there are diverse problems to be solved.

The Thomson Reuters Foundation’s second world poll on the best country to be a social entrepreneur found that among the 45 biggest economies, three African Nations, South Africa, Nigeria, and Egypt, failed to make the top twenty. However, Nigeria came six when around 900 social enterprise experts were asked where youths are playing a vital role in the growing sector. Egypt was ranked at position four while South Africa was at place 34, supported by Deutsche bank.

In Nigeria, a country where the median age is about 18, youths are rising to find business solutions to challenges ranging from environmental to poverty to cultural issues, from illiteracy to pollution, things neglected by the government. Facing a youth unemployment crisis, with more than half of 15-35-year-olds lacking full-time jobs, a new generation of social entrepreneurs wishes to create opportunities and economic prosperity on their own.

Femi Taiwo, an executive director of LEAP Africa, said that encouragement for faith-based entities, motivational speakers, an array of international and local programs, and competitions for young leaders has helped pave the way. Taiwo says that these initiatives and many more place a spotlight on young people making a difference, and inspired many to jump into the bandwagon.



The Social Entrepreneur Who Promotes Nigeria through Music, Comic Books and Festivals

The Social Entrepreneur Who Promotes Nigeria through Music, Comic Books and Festivals

To comprehend Oriteme Banigo’s philosophy towards life and work, it helps to contextualize where he comes from. Banigo had a light-bulb moment in Dennis Shaughnessy’s class on social entrepreneurship at Northeastern 12 years ago, where things changed for him. Banigo recalls saying that they were taught that in whatever venture they do, there is a social impact; therefore, there needs to be a positive impact.

This philosophy has led to everything that he does, and there are no limits of projects vying for his time and attention. Banigo runs a publishing company that develops, produces, and distributes comic books teaching the history and culture of Nigeria. He also runs an entertainment company which outs on an annual beach music festival in Lagos. Banigo is also involved in advocacy work in his community in Lagos.

Shaughnessy’s class not only led to the beginning of these entrepreneurial pursuits for him but also left him with invaluable lessons that hardened back to a sage piece of advice he keeps. He says that his father always taught him that whatever he does, he needs to bring value to people, value to his family, value to his friend, and value to his workplace.

Banigo graduated from Northeastern with a degree in economics at the height of the Great Recession, then later moved back home to Lagos and started working at a bank for some years to fulfill a Nigerian mandate which requires citizens to work a minimum wage job in corporate, education or health for at least a year.

According to Banigo, who was raised by a Harvard-educated father together with his siblings, it was always his plans to move back. He said that he thought it would have been a waste to live somewhere else and not utilize his resources in Nigeria to achieve what he wanted in terms of impact.



Canada Leads in Rankings of The Most Favorable Countries For Social Entrepreneurship

Canada Leads in Rankings of The Most Favorable Countries For Social Entrepreneurship

Canada was ranked as the most preferred county for business leaders looking into social problems in a global poll while the United States fell from the top position due to political uncertainty. Australia was ranked second in the Thomson Reuters Foundation’s second global survey on the best state for social entrepreneurs. Australia has seen the biggest gain of 24 places from its initial position during the inaugural poll in 2016. France came in third.

Mexico fell down 15 places from 2016 becoming the last; however, the US was the biggest loser by falling from position one to the 32nd position. The poll had about 900 social entrepreneurs’ experts citing the difficulties with government policy and access to investments in the US.

According to Francois Bonnici, head of the Schwab Foundation for Social Entrepreneurship, over the past three years, there had been some significant gains and some ongoing challenges for social entrepreneurs addressing issues from refugees to climate change. Bonnici said that governments are recognizing that to achieve their agendas, it is a group of citizens and entrepreneurs who will want to improve society and the environment.

Bonnici added that. However, it has some little different flavor in each country and that government rile is essential and can legitimize the sector in their country through creating these policies. Business entrepreneurs worldwide are continuing to set their sights on social issues with ventures, which can be a commercial success while looking into problems such as mental health, homelessness, knife crime, unemployment, and loneliness.

For instance, South Africa has a dating service to match unemployed youth with employers while in India; Project Patradya is handling the waste problem by employing Afghan refugee women to make edible bowls. However, with little data on which nations were encouraging the sector, the Thomson Reuters Foundation, together with the Deutsche Bank, started a poll in 2016 that was repeated in 2019.



UK Drops Down Further In Best Countries for Social Entrepreneurship Ranking List

UK Drops Down Further In Best Countries for Social Entrepreneurship Ranking List

According to a study, Canada, France, and Australia are classified as the best countries to be a social entrepreneur. However, the UK has fallen from third place to the 13th since 2016. Results from the global perception poll held by the Thomson Reuters Foundation together with Deutsche Bank’s Made for Good program, Britain has moved ten places lower since the inaugural survey of the biggest economies globally in 2016 as much as London is still a prime area.

The US, which was the holder of the first place in 2016, also dropped further to position 32. The survey polled up to 900 experts to find trends, challenges, and opportunities related to the business-for-purpose sector. It looked at six crucial areas; public understanding, the ability for social entrepreneurs to make a living, government support, access to investments, and whether the sector was gaining momentum.

The results take into account two questions; gender pay gap and representation in leadership roles in social enterprises. The UL fell one place from 18th to 19th position, while the US was last, and Belgium, Canada, and Australia took the top three spots. Sixty-seven percent of the respondents thought that women were appropriately represented in leadership roles overall; however, only 44 percent thought female leaders were paid the same as men.

The inaugural youth ranking also took into account two questions; the impact of having younger people involved in the sector and interest in social enterprises. In these, the UK was ranked second to last between Russia and Poland, with Canada, France, and Germany at the top. Overall, many asked believed that social entrepreneurship was gaining momentum globally. Nevertheless, more than half said that people still do not understand what they do.

In the UL, Brexit, which dominated the political agenda, was blamed for slowing the pace for the development of social entrepreneurship. In Scotland, the results showed that social entrepreneurship was thriving.



Social Entrepreneurship Brought Up at The Gaidar Forum

Social Entrepreneurship Brought Up at The Gaidar Forum

During the first day of the 10th Gaidar Forum, an expert discussion, “Social entrepreneurship- a new social elevator for young people,” was discussed. The forum was moderated by Vyacheslav Shoptenko, the Director of the Institute of Organizational Development and Strategic Initiatives of RANEPA, Manager of Manage! Student project.

At the start of the discussion, Shoptenko outlined three main terms that listeners are to familiarize themselves with and know how they are interrelated; social entrepreneurship, youth, and social elevator.

Alexey Komissarov, the Vice-Rector, Director of the Higher School of Public Administration of the Russian Academy of National Economy and Public Administration, General Director of the Autonomous Non Commercial organization; Russia answered the question of what opportunities young people have in social entrepreneurship. Komissarov said that many structures had been developed for the implementation of social projects such as the Autonomous Non-Commercial Organization “Russia”- Country of Opportunities.

He said that the critical task of the organization is to find and support new social ideas. Komissarov added that young people are motivated not only by finances but also by the possibility of self-realization and the search for themselves in the projects. He also mentioned the innovation in the Leaders of Russia project whereby the semi-finalists will have to implement their social plan to confirm their leadership status and to reach the final.

During the discussion, the topical issue was the draft law on social entrepreneurship that has been discussed and developed for a while. Milena Arslanova, the director of the Investment Policy and Entrepreneurship Development Department of the Ministry of Economic Development of the Russian Federation, mentioned that the apparent problem in drafting a new regulation is the inability to define who social entrepreneurs are clearly.

After a lengthy discussion of the draft laws, the authorities noted several criteria for determining social entrepreneurs; for instance, a social entrepreneur creates employment for a specified circle of persons; ensures access of goods and services produced by people with disabilities to the market; manufactured products and services which improve the quality of life and lastly, solves the specific tasks of society.



The Best Cities for Social Entrepreneurship Ranked By Halycon

The Best Cities for Social Entrepreneurship Ranked By Halycon

Boston is ranked as the first city in the US for social entrepreneurs, and San Francisco comes in second, followed by Seattle, Minneapolis, St Paul, and Denver, as confirmed in a new report by Halycon, home of Halycon Incubator.

The report titled; “A Step Forward: Social Enterprise Ecosystems in the US.(volume 3) places the top cities in the US based on four categories; human capital, support system, funding, and quality of life. The findings will be released at SOCAP 2019 in San Francisco, the leading gathering of the world’s change makers addressing the world’s toughest issues through market-based solutions.

According to Halycon Chief Innovation Officer, Ryan Ross, Halycon’s Social Enterprise Ecosystems Report lets founders at the vanguard of the economy to voice their experiences on what makes an excellent ecosystem for impact. Ross, who is also the author of the report, said that they had combined their survey data with publicly available information to give a comprehensive, insightful look at ecosystems countrywide.

Allison Barman, the vice president of the Bush Foundation Strategy and Learning, said that the Bush Foundation is elated to support Halycon in creating The Social Enterprise Ecosystems Report. Barman added that the report shows how, over some period, space is evolving. He also said that the information would be useful for everyone, from funders to policymakers to social entrepreneurs.

The report depicts how the social enterprise sector has changed. For example, some of the top-performing companies like Beyond Meat and their record-breaking IPO this year are social enterprises. Universities are moving to add programs to support the growing wave of the student asking for social entrepreneurship programming, and cities are quickly expanding their support systems for developers.

With Business Roundtable’s latest declaration that business should move away from stakeholder primacy and commit to all stakeholders, the momentum in the space necessitates an in-depth look at the ecosystem enhancing the growth.



Reasons Why Charities Are Going For Profit Businesses

Reasons Why Charities Are Going For Profit Businesses

While Kenton Lee was walking in the streets of Nairobi, he came up with an idea. Upon seeing a street child with some small shoes that had been cut off so that her toes would stick out, he thought of an idea of having shoes that could grow. Upon having this thought, which he describes as the only idea he has ever had, he went home to Boise, Idaho, developed a show which expands five sizes and started a non-profit Because International which presently, 12 years later, has distributed more than 250,000 pairs globally.

Along the way, something unexpected happened. American parents started asking if they could buy his expandable shoes for their growing kids. Lee saw this as the value for it; if they sold shoes, he could not have to do so many fundraising dinners and golf tournaments. However, he was not passionate about selling, saying that they were a non-profit.

Meanwhile, Grameen Foundation also reached a similar stop. It had developed an app to help Colombian farmers improve their productivity, and it worked in areas without Wi-Fi. Other entities asked if they could use it, which signaled to Grameen that their tool could be more useful as a business. However, Grameen was also not set up for that; they were a global non-profit.

Another charity is known as Speak Your Silence was fighting with the same issue. Its platform gave in-person counseling to sexual abuse survivors. Earlier before the #MeToo movement, the founder, Matt Pipkin, wanted to provide a version of this to entities, to help keep their workers safe from sexual harassment. However, the board rejected, saying they ran a non-profit. According to Pipkin, if you have a business and start a non-profit, no one thinks twice, however, if you start a non-profit and then start a business, people would put much thought into that.