Millennials Worldwide Are More Likely To Contribute To #Givingtuesday

Millennials Worldwide Are More Likely To Contribute To #Givingtuesday

Annually, the United States holiday Thanksgiving is followed by two commercial bonanzas, which start a hectic period of unrivaled consumerism; Black Friday and Cyber Monday. However, those odes to capitalism are becoming a great challenge, if not in sales volume, then in generosity; by the appeals on #GivingTuesday to donate money and time to the neediest.

Since it started seven years ago, according to Asha Curran, the non-profit organization CEO, #GivingTuesday has had extraordinary growth. Curran said that it has grown into something they did not expect, a generosity movement with a global reach and official leadership in more than 60 countries. She explained to Al Jazeera of the precise day when people all around are encouraged to do goof financially or any other way.

Curran said that, during this widely connected age, it is impossible to keep a good idea from moving across borders. She said this about #GivingTuseday, which started in the US but now has other nations participating.

More than $1bn has been raised online over the seven years in the US alone on #GivingTuesday. A total of 63 prevent of US participants gave money, 37 percent gave in other forms; clothing drive, food, and different types of nonmonetary giving.

The idea is also motivating donors to contribute to the social sector annually. Also, while younger generations are usually counted out of philanthropic efforts due to the deeper pockets of older generations, millennials are most likely to participate in #GivingTuesday. GivingTuseday became an independent charity in July and only has ten employees; however, they all form the nucleus of a global effort. Curran added that they are, however, absolutely not a franchise operation. She said that they do not look at country leaders and their national groups as chapters.

In India, 12 times the number of donors donated in 2018 as compared to 2017. In Russia, it motivated people to speak about the causes they enjoyed. From Colombia to Liberia to Jordan to Somalia, the global network of non-profits is working together and innovating-supercharged after meeting at the annual summit.

Reference

https://www.aljazeera.com/amp/ajimpact/givingtuesday-millennials-worldwide-contribute-191202232755743.html

 

Japan’s Entrepreneurship History Explained by Ernest Higa

Japan’s Entrepreneurship History Explained by Ernest Higa

A veteran entrepreneur in Honolulu, Ernest Matsuo Higa, who is based out of Japan, says that Japan’s economy is now getting back to a growth model. Since the 1990s, he has been the President Chief Executive Officer and sole owner of Higa Industries. Higa is the man who got a private license for the American pizza chain, Domino’s Pizza Inc. to Japan. He was the first home-delivery pizza store to start in the country, and it began a nationwide pizza boom.

Since 1964, Tokyo Olympics Japan went through what is known as “miracle economic rise from the ashes of the World War,” where it grew double-digit. During this growth period, the “best and brightest from excellent schools first went into Government and then into the best-established corporations that ensured job stability and upward promotion with no risk.

In an interview with Entrepreneur Asia Pacific, Higa recalls how those who did not qualify had no choice but to start their businesses, which were mainly “Mom and Pop” kind of operations. In addition to that, the entrepreneurs of that time were perceived in a negative light as those who could not qualify for the establishment.

Being a veteran who has worked closely in the US and Japan, he elucidated what took the Japanese Government to spur entrepreneurship. He said that in the 1980s, Japan entered its “Bubble Economy” where considerable growth was seen during which the leading Japanese corporations were growing globally and “taking over the world.” This led to the “best and brightest” to join the established companies or the Government.

Nevertheless, from 1997, Japan’s economy went into a ten-year recession known as the worst economy since the World War, which was then followed by more than 15 years of deflation, which was likened to the “Great Depression of the 1930s in the US.”

Reference

https://www.google.com/amp/s/www.entrepreneur.com/amphtml/337411

 

Young People Are More Interested In Social Entrepreneurship

Young People Are More Interested In Social Entrepreneurship

As the person behind a hydroponics farming system in rural Kenya, Jefferson Kang’acha, a 17-year-old boy struggled to get noticed; however, he now expects the youth climate movement led by Greta Thunberg to move other young people on a mission. Kang’acha, who is a computer technology student, opted to apply technology to farming when another drought hit his folks. He came up with an automated hydroponics unit made from recycled waste and plastic bottles.

After his first unit produced 2 tons of tomatoes, he started the Eden Horticulture Hub, a social enterprise which now runs four hydroponics systems in his home town in Limuru. It supplies the local community and lunches to 1,500 pupils. Like many social entrepreneurs attending a two-week sector’s big yearly event, Kang’acha said that at first he was brushed off; the same case to a Swedish teenager Thunberg. Eventually, people did start to listen.

While speaking on the sidelines of the 12th annual Social Enterprise World Forum in Ethiopia, Kang’acha said that at first, it was hard to be heard, especially since the average age of a farmer in Kenya is about 60. He added that young people do have the advantage of exposure to technology, which can create solutions to old problems working together with the experience of older people and not as rivals.

According to a Thomas Reuters Foundation poll, there is an increasing enthusiasm among young people worldwide to work for businesses with a mission towards social good. Three in four of around 900 experts surveyed said that more people under the age of 25 wanted to work in social enterprises that tackle a host of issues from climate change to health care.

According to Sabrina Chalori, a 27-year-old from Brisbane Australia, they do not just want jobs, they want meaningful work. She has set up a tool library in Brisbane in 2017, which charges an annual membership fee to borrow donated tools, sports gear, and camping equipment.

Reference

https://www.japantimes.co.jp/news/2019/10/24/business/young-entrepreneurs-mission-bank-greta-effect/#.Xfe2mPlRWyV

 

 

Social Entrepreneurship Is Taking a Toll On Business Owners

Social Entrepreneurship Is Taking a Toll On Business Owners

Fervent and dedicated to the cause, business owners on a mission to help the environment and society are increasingly coming up against an unanticipated hurdle, burnout. Worldwide, social entrepreneurship is growing, with more entities being set up to make a profit, which can address problems such as homelessness, unemployment, mental health, knife crime, and also loneliness.

However, according to academics, social entrepreneurs, and mental professionals attending two of the sector’s leading annual events, handling these responsibilities can sometimes take a toll on the business leaders’ mental health and wellbeing. According to Gabriella Cacciotti, an assistant professor in entrepreneurship at the UK’s University of Warwick, creating a business that does well while trying to ensure that the company itself is sustainable is not an easy task.

Cacciotti goes on to say that the goals of doing good and making money can be incompatible as making progress towards one of these goals needs action and decisions that can undermine progress toward the other. For instance, the feeling of burnout weighed quite heavily for Rebecca Kaduru that she wanted to give up on KadAfrica, a passion fruit farming social enterprise she founded with her husband in 2014 in Uganda.

According to Kaduru, there were moments where she would wake up with terrible anxiety. She said that they had 43 employees in Uganda and wondered what would happen if they could not make it work. She said this was adding to the lack of long-term security, which was also hard to take with a family. A tragic car crash brought her role as a social entrepreneur to a sad end, making her move back to the United States for surgery, and KadAfrica continued without her.

Dan Gregory, the director of international and sustainable development at Social Enterprise UK, said that there are no figures to track the burnout; however, anecdotal evidence shows that it is on the rise. Gregory noted that many put so much time in and are so passionate about what they do that they cannot simply stop.

Reference

https://www.japantimes.co.jp/life/2019/11/03/general/good-taking-toll-social-entrepreneurs/#.XfPNIPlRWyV

 

 

Positive Contributions to Society through Social Entrepreneurship and Partnerships

Positive Contributions to Society through Social Entrepreneurship and Partnerships

Despite progress made over the last decades with respect to poverty reduction, notably in China, there are still significant unmet social needs and massive efforts required to reach the United Nations’ Sustainable Development Goals (SDGs).

At least 700 million people still live in extreme poverty, surviving on less than US$1.90 per day. Hundreds of millions of people lack access to necessities such as banking services, sanitation, electricity, and safe drinking water.

Lack of access to such vital services and infrastructure has broader negative implications for health, education, and gender equality.

While Hong Kong is one of the wealthiest cities in the world, it has a higher income gap between the rich and the poor than most advanced countries.

At least 1.3 million of the 7.2 million citizens of Hong Kong live in abject poverty, with the elderly taking up the highest percentage while children take up 20 percent.

It takes charitable organizations, government programs, and responsible corporations to address these pressing social and economic issues.

Alongside conventional actors, a rather dynamic movement of social entrepreneurs has emerged and gradually gaining traction, who address social and environmental issues in business-like and innovative ways.

They start their businesses with a passion for providing solutions to pressing social and environmental problems. However, to reach scale, social entrepreneurs need the support of others, often including some partly or wholly subsidized funding, at least during the early days of their social ventures.

Here is where venture capitalists, extend not only seed funding for social entrepreneurs, but also support social enterprises in other ways such as technical and financial know-how.

Source: https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032818/positive-contributions-society

 

Private fortunes are moving into social entrepreneurship and impact investing

Private fortunes are moving into social entrepreneurship and impact investing

Long gone are the days when billionaires would flaunt their luxurious gadgets. Currently, the largest global fortunes have discovered impact investing and social entrepreneurship and are using these opportunities to take action and leave a positive mark on the world.

“At some level, no one deserves that much money. I think if you do something that’s good, you get rewarded, but I do think some of the wealth that can be accumulated is unreasonable.” The words of Facebook’s CEO Mark Zuckerberg during a question and answer session with Facebook employees.

These words express what the new approach of the rich is: how to create something meaningful from the wealth they have achieved throughout their careers.

This year’s BBVA Momentum, BBVA’s social entrepreneurship support program, has grown to 169 enterprises from Colombia, United States, Mexico and Turkey. All these enterprises compose a mosaic that perfectly reflects the social and environmental concerns of global society.

Zuckerberg , who has a fortune worth more than $70 trillion, and his wife Priscilla Chan, have taken an important step in this direction by establishing, the Chan Zuckerberg Initiative.

Their company uses technological tools to provide solutions to the most pressing issues including improved education, eradication of diseases and reforming the criminal justice system in the USA.

On the company’s web page, Priscilla Chan summarizes the mission: “to point the promise of technology towards the challenges that will shape the future for our kids.”

This is also the case with the world’s largest private foundation, the Bill and Melinda Gates Foundation.

These are just two examples from a generation of young multi-millionaires who have trained in the field of impact investing, gaining the tools needed to overcome the challenges.

Although still early to assess their impact on the world, it seems as if a change in mentality is possible, and a new cadre of powerful business people with altruistic interests are queuing up to take over where Gates and Zuckerberg leave off.

Source: https://www.bbva.com/en/private-fortunes-are-moving-into-social-entrepreneurship-and-impact-investing/

Become Local Change Makers Through Social Entrepreneurship

Become Local Change Makers Through Social Entrepreneurship

Ikigai is a Japanese concept meaning ‘a reason for being.’ Each individual’s Ikigai is dependant on their values, beliefs, and personal life. A social entrepreneur’s Ikigai is to bring solutions to pressing social, cultural, and environmental challenges.

They are persistent, ambitious, and committed to the good of all. Moreover, social entrepreneurs are not after a niche market. They make simple and safe solutions that the broad population that can use to be local change-makers.

We live in a dynamic world that calls for everyone to contribute and adapt to change, i.e., to be a change maker. However, not every changemaker is a social entrepreneur.

There are very few systems or mindset-change entrepreneurs. The social entrepreneurs need the local changemakers, who in turn require the role models and structuring that social entrepreneurs bring to initiate and make change possible

Both the government and the citizen sector must serve the good of all, and they both must learn from one another in areas as diverse as ensuring that everyone in both universes is changemakers.

Here, the citizen sector has the advantage because it is the core motivation of social entrepreneurs. Because the social entrepreneur is committed to the good of all from deep within, they have the competitive advantage of automatically taking the full array of causes and effects into account.

Finally, this is a world where everyone can experience happiness and health of living a life of expressing love and respect in action at significant levels. Ashoka is a community of the world’s best social entrepreneurs. There are roughly 4,000 Ashoka Fellows who are hugely influential.

Source: https://www.entrepreneur.com/article/341350