The Role of Social Entrepreneurship in Promoting Sustainable Development in Emerging Economies

Abstract

This study investigates sustainability in emerging and developing third-world economies whose social and economic growth is often accompanied by social inequalities and environmental destruction. The proposal argued whether social entrepreneurship aims to fill social and economic gaps by developing programs with economic, social, and environmental activities, and to promote localized growth. The findings suggested that social entrepreneurship helps to transform developing regions into semi-advanced regions by creating employment and economic stability. These Intermediary regions also have water, health, and educational services, and are in positive growth. The findings also suggested that creating social entrepreneurship led to industrialized social and economic growth. This paper offers a positive, innovative, and promising social and economic growth potential that developing countries need. It maintains the continued potential because of the lack of a positive social economy/government. These social enterprises have proven positive social growth/government potential, where the services increase to rural and dormant centers even with poor social infrastructure. In the whole paper, it is concluded that social entrepreneurship could be considered as a valid and innovative method of promoting sustainable development in developing countries. However, for the sustainable success of social entrepreneurship, there is an urgent need to create supportive ecosystems consisting of an effective policy environment, financial access, and stakeholder cooperation.