In South Africa, both economic and social entrepreneurship have become a game-changing strategy for tackling enduring socioeconomic issues, including inequality, unemployment, and poverty. In contrast to conventional business models that put profit maximisation first, social entrepreneurship combines entrepreneurial tactics with social goals to develop long-lasting solutions for underserved populations. This study examines how social entrepreneurship can be used to address socioeconomic problems in South Africa, highlighting how it can promote inclusive growth and help achieve both national and international development objectives. The study illustrates how social companies use innovation and community participation models to overcome structural impediments such as youth unemployment, healthcare disparities, and limited access to education. It is based on a thorough evaluation of academic literature. The results show that social entrepreneurship fosters social cohesiveness and resilience in marginalised areas in addition to creating job and income opportunities. However, issues including weak finance, insufficient policy frameworks, and a dearth of capacity-building programmes make it difficult for social enterprises to grow and survive. In order to strengthen the social enterprise sector, the study’s conclusion suggests creating supportive ecosystems through impact investments, policy reforms, and educational initiatives. South Africa can expedite its efforts to reduce inequality and achieve sustained socioeconomic transformation by presenting social entrepreneurship as a strategic development tool.
Andrew Enaifoghe (Wed,) studied this question.
Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context: