USC students dared to be social entrepreneurs

STUDENTS of the University of San Carlos were challenged yesterday to venture into a new trend in business that aims not only to earn profit but also to help alleviate societal problems in the community.

Bam Aquino, co-founder of Hapinoy Store Program which focuses on sari-sari stores in the Philippines, said social entrepreneurship is one of the new trends in business.

It involves the use of business models for social missions.

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Aquino, however, said this type of business has a low level of awareness in the country and even in the world as the mindsets of most enterprises and large corporations are focused on profits.

He said only a few are focused on social entrepreneurship while other large companies have slowly aligned their corporate social responsibilities (CSR) programs to reach various communities.

Measurement

A social entrepreneur is defined as someone who recognizes a social problem and uses entrepreneurial principles to organize, create and manage a venture to make a social change. While a business entrepreneur measures performance in profit and return, a social entrepreneur focuses on creating social capital.

Social entrepreneurship’s main aim is to further social and environmental goals.

Aside from Hapinoy, Aquino is also one of founders of Rags2Riches Inc., a social business enterprise creating high-end designer fashion masterpieces and home accessories that are ethical and eco-friendly.

It empowers women of poor communities and recycles scrap cloths discarded by garments factories around the country.

The business, which started with 30 women in Payatas, Quezon City, now employs 300 women.

Aquino was one of the five icons of social entrepreneurship presented in a forum initiated by Step-Up (Student Entrepreneurship Provides Unlimited Possibilities) in partnership with the Presidential Communication Operations Office yesterday.

The forum, which is also part of the government’s Public-Private-Partnership (PPP) initiative, aims to increase awareness on volunteerism for nation building.

To encourage the youth to venture into social entrepreneurship, Emmanuel Bagual, Nobel Peace Prize for Children 2009 finalist, advised students to seek assistance from mentors.

“He (mentor) will guide you to proper values and principles,” he said. He credited his transformation to his mentor, Harnin Manalaysay, who is also the mentor of Efren Peñaflorida, CNN 2009’s Hero of the Year.

He joined Club 8586, a people development organization founded by Manalaysay in 1985.

“We help educate kids and protect their rights. We fund livelihood projects that aim to raise income of parents like making bags out of scrapped materials instead of pushing their children to labor,” said Bagual, founder of Mind Your Right Groups.

Jefferson Awards 2009 Student in Action and Money Think founder, Ted Gonder, for his part, also said that students should come out with a strategic plan when applying business principles in this type of business.

He also said that one should not be afraid in failing and keep that “insatiable curiosity” burning. “Ask questions, research and take notes,” he said.

Information

For her part, Gemma Bulos, the Ernst and Young / Schwab Foundation Social Entrepreneur of 2009, also reminded the youth to maximize access to information to determine the societal problems in the community.

Bulos was recognized for her innovative humanitarian work empowering communities to resolve their own water issues.

“There is so much out there that is happening and there is so much that we can work together,” Bullos said.

Bullos is the founder of A Single Drop, a non-profit humanitarian organization which aims to address the safe water crisis.