Social Entrepreneurship: Driving Sustainable Social Impact Through Innovation- An Economic Perspective

Abstract

Social entrepreneurship represents a hybrid economic model that blends entrepreneurial principles with a social mission. It has emerged as a critical force in addressing market failures, promoting inclusive development, and fostering sustainable innovation. This paper explores the role of social entrepreneurship in delivering public goods, correcting externalities, and creating inclusive economic value. Drawing from institutional economics, innovation theory, and empirical studies, it highlights how social entrepreneurship contributes to sustainable development. The paper also discusses key challenges such as access to finance, regulatory barriers, and impact measurement, and outlines policy recommendations to support the ecosystem. The findings underscore social entrepreneurship's potential as a vehicle for equitable and sustainable economic growth.