How the Social Enterprise community came together to survive the pandemic
While the coronavirus pandemic is delivering a crushing blow all over the world, we know that some of the most vulnerable populations are those already living in poverty in emerging markets. According to research published by United Nations University World Institute for Development Economics Research, “the economic fallout from the global pandemic could increase global poverty by as much as half a billion people, or 8% of the total human population,” marking the first time in 30 years that global poverty has increased.
The pandemic is also delivering a heavy blow to many of the social enterprises working tirelessly to lift people out of poverty around the world. Because these organizations prioritize impact over profit, they are less likely to have the resources to weather this storm, putting their businesses at risk—but also jeopardizing the impact that is at their very core. It is heartbreaking to know that many worthy enterprises will not survive.
But the social entrepreneurship community is resilient and committed, with organizations coming together to support one another in the face of COVID-19.
Many enterprises are responding to the crisis in new and innovative ways, leveraging existing partnerships and forging new ones.
Although COVID-19 has had a devastating effect, social entrepreneurs are gritty and eternally optimistic. They have built enterprises under extremely difficult circumstances to fight a myriad of social problems and injustices and provide a better future for the most vulnerable populations on earth. The pandemic is a crushing setback, but it is hardly the end.
“We have faith in and a firm commitment to the model of development through enterprise, the entrepreneurs who drive that model and the ecosystem that sustains it. And we are proud to be a part of this vibrant, committed and resilient community.”
This is a condensed version of an article written by Pamela Roussos, Chief Community Officer at Miller Center for Social Entrepreneurship. Learn how the centre is supporting social entrepreneurs by reading the full version of this article here.
