Tuesday, 4 November 2014

Where are the new charity founders?


The recent report by RBS and Unltd1 finds that young people aged 18 – 30 are more likely than the general population to consider it important to support social causes when starting a business. However, despite these motivations to do good, far more want to start their own business (61%) or a social enterprise (27%) than a charity (12%).  
This increased interest in the blending of business and social purpose is an important new area. More social purpose organisations are trading and setting up as Community Interest Companies. And more businesses are considering social value either as a potential market or as part of their CSR with pro bono work and corporate foundations on the rise. But is there a problem for the future of the charitable sector if more young people want to set up social enterprises than charities?
We know that the charitable sector is a valuable source of jobs and work experience through volunteering. And there is certainly sense in involving young social entrepreneurs who will bring the passion and skills needed as the context that charities operate in changes rapidly. We definitely need to capture young people who can identify and capitalise on opportunities as well as being motivated by social causes. There are lots of schemes out there supporting enterprise in schools and supporting business and enterprise start ups. Perhaps it’s time to also encourage a new breed of young charity founders and leaders?

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