Purpose and profit – how to succeed as a social entrepreneur in SA

On the micro-level, this fusion of economic and social development is reflected in the country’s social entrepreneurs – an increasing cohort of small to medium business innovators who are aiming, not just for profits but also positive social impact. In South Africa’s entrepreneurship ecosystem, where every successful entrepreneur is already helping to create jobs, social entrepreneurs stand out for being uniquely purpose driven.

Mbali Dhlamini, programme manager at Gibs (Gordon Institute of Business Science) says: “More people are coming into the social entrepreneurship space and starting businesses that seek to address social issues. They have specific, personal motivations to make a difference, and they want to do work that creates measurable social and/or environmental change. Finding entrepreneurial solutions to solve issues in their communities can help them fulfil their life’s purpose. Increasingly, we are seeing social media amplifying this drive for young people to harness entrepreneurial innovation to solve problems in their local communities.”

How social entrepreneurs balance profitability, people and planet

Building financially viable businesses while addressing social issues is a shift from regarding profits for investors as the sole goal of enterprise development. Developing South Africa’s social entrepreneurs demands somewhat more than just traditional business education. Financial skills, business acumen and the development of the entrepreneurial mindset are, of course, critical for the social entrepreneur’s success, but so are theories of change, enhanced monitoring and evaluation, and continuous improvement cycles.

Senior programme manager at the Gibs Entrepreneurship Development Academy (GIBS EDA), Guinivere Pedro, says: “Social entrepreneurship development involves synthesising all the same business knowledge and skills with the competencies of successful change agents. This is why the Gibs EDA Social Entrepreneurship Programme focuses on training that provides insights into the interplay between social change, sustainability and innovation. We help our students hone their leadership skills through personal mastery and self-knowledge, while enhancing their contextual awareness and supporting them in their passion to become a change agent for good.

"Essential to this is helping our students enhance their problem-solving abilities and capacities to implement long lasting solutions. Crucial, as well, is the focus on growing their business acumen and developing their abilities to navigate the challenging funding and support network in which they will do business. Every entrepreneur has an interesting journey, but it’s probably fair to say that the social entrepreneur’s journey, with its inclusion of purpose which brings greater nuances and complexities, is one that is undeniably rich and fulfilling. This is why younger generations are gravitating towards social entrepreneurship.”

In a year, when a more positive consumer outlook is expected, but unemployment is set to worsen, there is probably no more pressing focus than on the support and development of South Africa’s next-generation entrepreneurs. Those of them that are purpose-driven will be making an impact, not just in the hygiene business factor of creating employment, but in connecting their communities to vital services and improving lives.

Applications for the Gibs Social Entrepreneurship Programme 2025 are now open and will close on 25 February 2025.

This hybrid learning course is accessible to participants across South Africa and internationally. The programme runs from 11 March to 25 June 2025.

Apply before 25 February 2025 here.

Gibs will award partial bursaries to two registered participants, covering 50% of the course fees. These bursaries will be granted within the Enterprise Development (ED) framework to qualifying participants, subject to terms and conditions.