Social entrepreneurs are both visionaries and ultimate realists, concerned with the practical implementation of their vision above all. They function as the agents of change, questioning the status quo, grabbing the new yet overlooked opportunities, and changing the world for the better. But being a change agent is not easy. There are several roadblocks on the way to reformation and change which they have to encounter. Patience and perseverance are the tools that carry these leaders and organizations through the myriad of hurdles set out on the path.
The major challenge for the Indian entrepreneur is the lack of financial sources. The banks and other financial institutions avoid providing loan facilities due to the various social complications attached. This causes social entrepreneurs to take a more difficult path of approaching venture capitalists and philanthropic organizations.
Another challenge is finding and keeping the right people to run the organization. It is not easy to find efficient employees willing to work in a social organization at a humble pay compared to their counterparts. A question that needs to be answered is whether to recruit people who are extremely efficient at their work or people who truly identify with the social goal of the organization. Selco that provides solar energy based interventions to the bottom of the pyramid follows the 50/50 policy. According to this it employs 50%people who work for the social goals and the remaining 50% is highly skilled workforce to ensure that there is no compromise on efficiency.
There is lack of support from government for social business development in India. There are no tax benefits or incentives that are currently provided to this upcoming area of social business which has the potential to create lasting change.
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