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10.1016/j.bushor.2021.09.005 |
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==Challenges==
Because the world of social entrepreneurship is relatively new, there are many challenges facing those who delve into the field. First, social entrepreneurs are trying to predict, address and creatively respond to future problems<ref>The Power of Unreasonable People; Elkington, John, Hartigan, Pamela; Harvard Business Press, 2008; p. 86</ref> and often face difficulties in identifying the right problems to solve.<ref>{{Cite journal |last1=Kuckertz |first1=Andreas|last2=Bernhard |first2=Alexander |last3=Berger |first3=Elisabeth S.C. |display-authors=etal |title=Scaling the right answers – Creating and maintaining hope through social entrepreneurship in light of humanitarian crises |journal=Journal of Business Venturing Insights |date=2023 |volume=19 |pages=e00356 |doi=10.1016/j.jbvi.2022.e00356|doi-access=free }}</ref> Unlike most business entrepreneurs, who address current market deficiencies, social entrepreneurs tackle hypothetical, unseen or often less-researched issues, such as overpopulation, unsustainable energy sources, food shortages.<ref>{{cite journal |title=The Power of Unreasonable People |last1=Elkington |first1=John |last2=Hartigan |first2=Pamela |journal=Harvard Business Press |date=2008 |pages=86–115}}</ref> Founding successful social businesses on merely potential solutions can be nearly impossible as investors are much less willing to support risky ventures. If entrepreneurs are able to receive funding from investors, the challenges do not stop with balancing both the social and business aspects of the business. <ref>{{cite journal |title=Social entrepreneurship and digital platforms: Crowdfunding in the sharing-economy era |last1=Chandna |first1= Vallari|journal= Business Horizons|date=2022 |volume=65 |pages=21–31 |doi=10.1016/j.bushor.2021.09.005|s2cid=239170896 }}</ref>
The lack of eager investors leads to the second problem in social entrepreneurship: the pay gap. Elkington and Hartigan note that "the salary gap between commercial and social enterprises… remains the elephant in the room, curtailing the capacity of [social enterprises] to achieve long-term success and viability."<ref name="Unreasonable People p. 201">The Power of Unreasonable People; Elkington, John, Hartigan, Pamela; Harvard Business Press, 2008; p. 201</ref> Social entrepreneurs and their employees are often given diminutive or non-existent salaries, especially at the onset of their ventures. Thus, their enterprises struggle to maintain qualified, committed employees. Though social entrepreneurs are tackling the world's most pressing issues, they must also confront skepticism and stinginess from the very society they seek to serve.<ref name="Unreasonable People p. 201"/>
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