Social entrepreneurship is getting more popular in Lithuania
Feb 22, 2019

Social entrepreneurship is getting more popular in Lithuania

Social entrepreneurship is all about the companies or entrepreneurs dealing with social, ecological, cultural and other issues which are important to society. It does not focus on traditional indicators such as financial benefits but creates economic value in a way that also generates social progress and value for society. Social entrepreneurship is a more responsible type of business which has a social impact on citizens and on country’s growth in general.

According to the experts, to this day the lack of knowledge about social entrepreneurship prevails amongst Lithuanians. It is noticeable, that social entrepreneurs have to deal with some difficulties, for example, the need of initial capital contribution, the lack of financial support, hardly reachable public sector and low involvement of the government. It seems that social entrepreneurship does not take the first place in the priorities of Lithuanian policymakers.

Nevertheless, nowadays social entrepreneurship became more attractive to entrepreneurs and well-received amongst citizens. Although social business is only now getting more attention in Lithuania, in fact, the numbers of social businesses are constantly growing. According to the data of the public enterprise “Versli Lietuva”, at the end of 2018, almost 90 social businesses were operating in Lithuania. The increase is evident, as at the start of 2018 there were only 60 social businesses. Also, it’s important to highlight that it’s difficult to count social businesses as they are not having some official status in Lithuania.

In addition, starters of a social business should take a look at the examples from foreign countries, such as United Kingdom, Australia, and Canada. In the end, social businesses not only face social problems and offer possible solutions, but also help the country to improve and grow. It shows that social and ecological problems can be solved not only with the help of projects and volunteers but also by the entrepreneurs who choose can combine business and social issues.

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