Definition of Social Entrepreneurship
Social entrepreneurship is an approach by start-up companies and entrepreneurs, in which they develop, fund and implement solutions to social, cultural, or other issues.
Social entrepreneurship uses business to offer new ideas for wide-scale social and environmental impact. Typically social entrepreneurship is a non-profit organization that operates businesses in order to generate revenues and fulfill their missions.
While preparing a social entrepreneurship project submission form
, consider that it contains mixed features of both commercial investment project and non-commercial grant application.
Performance, Portfolio and Reports
In this section of your proposal you need to give the funder information about you or your organization. This is with the aim of convincing the investor that you are the best person, group or organisation to undertake the project and the funds are going to be used efficiently.
In this section, include the following:
- your history
- the people you serve
- your track records and portfolio
- list of the programs you have done
- financial reports
The summary of the project is its abstract without the details of the project, which includes:
a) the title of the project,
b) brief description,
c) location of implementation,
d) type and sphere of the of project
e) type and size of required investment,
f) the term of investment and the conditions of return.
Description of Social Entrepreneurship Project
Your social entrepreneurship should start with a brief description of the proposed idea. This abstract contains the similar information as it is in statement summery of a grant proposal or project description in a commercial project.
This part of your proposal is the summery of your project where you should briefly describe the key points and main features
of your social entrepreneurship proposal.
The Term of Investment and the Conditions of Return
The information of this section is being published in summary. The investment period is the period during which the invested funds will be used. In the summary, investors should be shown how and when their investment will be returned and what they will gain from investing in your project. Write more detailed information in the project schedule and funding (financing) sections.
The data described in the summary are required fields that must be completed in the project submission form.
in this section justify the need and expediency of the project. with the information on the target customers, their problem, your solution, and the benefits of your solution.
You have to give an explanation of the importance of your identified problem, how you identified it as a problem and what are the possible effective ways of solving the same.
Thus, in this section of your proposal you need to describe the situation or problem your proposal will address, including supporting evidence such as statistics, expert views, and current events. Provide also short description of solutions you see as effective means of overcoming your mentioned problems.
This section should describe the desired outcome of your project. Discuss both long-range goals and specific, short-term objectives, as well as the precise effect to be achieved and the means you will employ. It should be reasonable, measurable and bound to a specific time frame.
This is the “how to” section, where you need to describe the creation and delivery of the business’ product or service.
This is an action plan that will include information on:
- management structure
- staffing plan and key personnel
- production plan or service delivery, including summary of costs of materials and production
- customer service/support strategy and plan
- facilities required, including specialized equipment or improvements. If the business is retail, discuss location characteristics.
Don’t forget to describe your steps in timetable specifying schedules or timeframes of your planned activities.
Marketing And Sales
Here you should describe how you will reach the target market and turn prospects into revenue or earned income.
Useful sub-headings of this section are as follows:
- marketing strategy
- sales channels
- marketing activities
- marketing budget.
Project Evaluation And Impact Assessment
This section describes how the project will be monitored and its results evaluated. It should cover the criteria for measuring progress, say who will be conducting the evaluations, and tell when evaluations will be held.
This section details social and environmental benefits generated, how measured, and monitoring/tracking. Qualitative and quantitative information are both valued.
The project financial section includes information on revenue and expenses for about three-five years with a summary narrative of the key assumptions. This section also details the project costs for capital equipment, inventory, initial marketing and staffing, and subsidy needed to cover losses during the start up period. These capital requirements may be funded from a combination of contribution from the nonprofit, grants for the enterprise, and/or debt financing.
The social entrepreneurship project budget and financing section should include information on:
- start up costs and investments in equipment, technology, or one time costs
- capital requirements and sources
- income and expense projection
- pro forma balance sheet for start up
- cash flow summary or projection
- assumptions and notes.
Here you may add any information you think is important for people or organisations to finance your social entrepreneurship project.