Can you run a business and do good? These five women are making it happen.
When Rahama Wright entered the Peace Corps in 2005, she didn’t think her future would be in entrepreneurship. Originally, she planned to finish her stint in the Peace Corps, take the foreign service exam, and work at the State Department. That was the plan — until she visited Ghana while with the Peace Corps (after being motivated to connect with her parents’ heritage). Moved by her experiences in West Africa, Wright founded Shea Yeleen, a skincare and beauty product business that contributes to the financial empowerment of women in Ghana, ensuring that women are properly recognized and compensated for their labor.
However, Wright is not your average entrepreneur.
Instead, Wright is a social entrepreneur. She and Shea Yeleen number among the estimated 11 million social entrepreneurship enterprises in the world. Wright participates in a subsection of entrepreneurship that not only typically employs more women but in countries such as Turkey, the United Arab Emirates, and Kyrgyzstan, are more often led by women, according to a 2022 study conducted by the British Council.
But what exactly is social entrepreneurship?
If you guessed, “a type of entrepreneurship that revolves around being outgoing or sociable,” you’d be wrong. That’s networking. Though networking is intrinsic to any kind of entrepreneurship, social entrepreneurship is more than just the sum of its name’s parts.
Specific definitions of social entrepreneurship vary. According to the United Nations, “the core element defining social entrepreneurship is the intentionality of social change or social value creation rather than wealth creation.”
Others believe that social entrepreneurship has too broad of a definition and that it should be further narrowed down.
Whatever the specifics of the definition, social entrepreneurship can be ubiquitously summed up like this: sustainable business for the sake of positive, meaningful impact, not business only for the sake of money or personal investments. That is the heart of social entrepreneurship.
However, it’s also about the balance of turning a profit while also championing a social cause. It’s pragmatic: How can you effect change if you don’t have money? Though money is not the end-all-be-all for catalyzing social change, it certainly helps — and many social entrepreneurs recognize this. A social entrepreneur is everything a regular entrepreneur is: innovative, organized, and resourceful. A social entrepreneur utilizes the same strategies as a regular entrepreneur to start and maintain their business.
Still, it may be easy to think that all social entrepreneurship ventures are nonprofits. That couldn’t be further from the truth. Though many social entrepreneurship ventures are nonprofit organizations (as you will read about later), many are also for-profit organizations. However, some confusion can abound about the lines between nonprofits and for-profits, and even the lines between nonprofits and not-for-profits.
To clear up any possible confusion, here are the definitions for a few of the many ways businesses can organize themselves. This isn’t an exhaustive list of the many shapes social entrepreneurship can take, but it is a framework of some of its most common forms.
Baseline Definitions:
A nonprofit organization is an organization that qualifies for tax-exempt status. It must also pursue a social cause or have the goal of bettering the public good. It can collect revenue from donations, grants, memberships, and possibly branded merchandise and pay its employees salaries. Nonprofit organizations fall under the umbrella of 501(c) status defined by the Internal Revenue Service (IRS). Many nonprofit organizations specifically fall under the 501(c)(3) label.
Though the two terms are frequently used interchangeably, a not-for-profit organization is a kind of nonprofit organization. What differentiates a not-for-profit from other nonprofit organizations is the fact that none of the net revenue can go to the owners or employees. Any and all funds must be invested directly into furthering the organization’s cause. Additionally, a not-for-profit is not required to have a cause that serves a broad public good. Instead, it can focus on community-specific causes. A local sports club could be a not-for-profit organization.
For-profit organizations are pretty straightforward and are how most businesses are structured today. They earn a profit. For-profit and nonprofit organizations often share similarities: Both need to pay their staff (if they want to keep them) and utilize similar strategies of managing and maximizing money — but a key difference is that for-profit organizations pay income taxes.
A benefit corporation (also called a B Corp) is a kind of for-profit organization that, in addition to making a profit for itself and its shareholders, is also beholden to demonstrate that they’re propagating and investing in a social cause. Patagonia is a renowned B Corp.
As a for-profit organization itself, Shea Yeleen simultaneously seeks to be profitable and work to better the lives of the Ghanaian women who work for Shea Yeleen, some of whom might not have other opportunities to learn marketable skills.
By paying them a wage Wright estimates at nearly five times the local minimum wage and by fostering economic independence through marketable skills, self-confidence, and education, Shea Yeleen ensures that the African women the company employs are appreciated and compensated for their labor. Wright’s work with Shea Yeleen actively wards off the exploitation and undervaluation of African women’s labor that can accompany business deals with unscrupulous entrepreneurs, retail outlets, and other wholesale buyers.
Pull Quote
“[People] want to do better. They want to learn. They don’t want to stay in the same place they’ve always been. I think that’s a common human attribute and it’s incredible.”–Rahama Wright
Still curious about how Wright got her start in social entrepreneurship? Listen to her podcast episode on SheVentures and get in contact with Wright through her website!
With a working definition in mind, let’s look at other influential female figures in the social entrepreneurship space, why their work matters, and who they impact.
Embodying a Characteristic of Social Entrepreneurism: Empathy
Vilmante Markeviciene’s Approach to Menstrual Equity
With a background in interior design, Lithuanian-based entrepreneur Vilmante Markeviciene entered the business of selling affordable menstrual products in 2009, and her products debuted in the United States in 2016. Genial Day (known as Gentle Day in Europe) carries menstrual care products ranging from pads to period-proof underwear.
The seeds of Genial Day were planted when Markeviciene had her own trouble procuring quality, comfortable menstrual products in Lithuania. Through collaboration with a period product brand she adored, Markeviciene developed Genial Day using the graphic design skills she had honed while working as an interior designer. Genial Day has continued to grow from its initial customer base in Europe to expanding to American stores and a growing online presence; having diversified income streams helped Markeviciene during the pandemic.
Naturally, Genial Day’s social entrepreneurship efforts tie in with its products.
When the war started in Ukraine, Genial Day donated over 10,000 packages of menstrual care products to the Red Cross in Lithuania. Additionally, with each pack of pads sold, another pack is donated to Ukrainian relief efforts.
Genial Day also targets one of the most important period pivots: a person’s first period, using education to lessen stigma. By providing a package deal for a kit containing a variety of menstrual care products, Genial Day ensures that the transition is made as smooth as possible for those who menstruate. What’s more: Genial Day donates a period kit to a person in need for each kit sold.
In addition to providing menstrual products, Genial Day educates. Using #TameYourPeriod, Genial Day provides online information to teens and parents about periods. Launched in 2022, the company’s Girls Support Girls initiative brings online resources into the classroom. Girls Support Girls provides details about the myriad of menstrual products out there so those who menstruate can make an informed and cost-effective choice.
Markeviciene’s social entrepreneurship practices don’t just extend to humanitarian efforts. Genial Day also carefully screens the factories that make its products to minimize adverse effects on the environment.
In a world where 62 percent of American women find discussing periods awkward, Genial Day is doing its part to break down the stigma surrounding periods and is educating the public about “period poverty.” These products are important not just because they are comfortable innovations in menstrual care, but also because they affirm the dignity of their wearers and work to ensure others do not have to suffer indignity during times of crisis, whether that be civil unrest or poverty. According to a 2022 study conducted by the Journal of Global Health Reports, 500 million people lack access to menstrual products in the United States. For refugees fleeing the war in Ukraine, having access to menstrual products is not only crucial for their hygiene and health by preventing dangerous infections, but it also ensures girls and women avoid missing days of school or work.
Still curious? Listen to Markeviciene’s podcast episode on SheVentures here! Check out Markeviciene’s Instagram for updates on her newest ventures, and Genial Day’s TikTok for news about its latest products. For customers in the U.S., Genial Day’s products can be found here. For customers in Europe, Genial Day (known as Gentle Day) can be found here. For customers in the United Kingdom and Canada, Genial Day’s products can be found on Amazon.
Saving and Making Money with Social Entrepreneurship
Leigh Phillips and the Nonprofit Branch of Social Entrepreneurship
Ever had trouble saving money? Leigh Phillips has an answer. Before financial wellness became trendy, Phillips dedicated herself to the cause decades ago. Having worked with San Francisco’s Office of Financial Empowerment, Phillips, CEO of SaverLife, understands the challenges of saving money and the precariousness of poverty.
Initially called EARN, SaverLife got its start helping the under-banked in 2001. Phillips became CEO in 2015; since then SaverLife has expanded to help more and more people. Despite having never worked at a nonprofit, Phillips has shown tenacity and dedication to helping people save money. This has led to the development of some of SaverLife’s most effective methods now used across the personal finance sphere: the gamification of saving money.
Users of SaverLife can participate in different challenges that encourage them to save money, no matter how small the initial values may seem. Saving as little as $5 saved a week, SaverLife users can enter to win prizes. Even pledging to save a tax refund makes you eligible for potential prizes. Putting away even a marginal $5 a week starting at age 20 contributes significantly to your savings by the time you’re 65 through the magic of compound interest.
Beyond the gamification of saving money, SaverLife provides a wealth of easy-to-understand information about the basics of personal finance. Get in the know about credit and learn budgeting strategies that maximize your money’s return as you buy necessities such as household supplies or groceries. Take quizzes to test your understanding and to potentially further qualify yourself for more prizes. Phillips shows it is possible and essential for everyone to learn basic money management skills.
SaverLife’s learning through gamification strategy — and straight talk instead of financial jargon — especially helps the under-banked and gig workers, but its services can benefit anyone over the age of 18 with an e-mail address. All the resources on SaverLife are free to use and implement.
Pull Quote: “Philanthropy is a precious resource.” —Leigh Phillips
SaverLife also implements its innovations in partnerships with employers — such as Levi Strauss. Companies can also tailor SaverLife to better serve their workplace programs or offer other benefits to help employees through financial hardship.
People say money can’t buy happiness, but money certainly can ensure peace of mind. Freed from the worry of overdraft fees or not having sufficient emergency funds, being financially secure takes a massive weight off a person’s shoulders. That is SaverLife’s mission and why it continues to innovate and make saving money and increasing financial confidence both accessible and appealing.
Hear more about Phillips’ journey — from her time in San Francisco to where she is now — on her podcast episode of SheVentures. Read testimonials from SaverLife’s users on its website and learn how people have used the platform’s resources to save money, get out of debt, and build up retirement funds.
Transforming an Industry with Social Entrepreneurship
Pauline Idogho and Brewing Up a New Market for Social Good
There are many reasons why someone may not want to drink alcohol, ranging from pregnancy to simply lacking interest. Social pressure can often make it difficult to abstain without drawing some attention to one’s self. The fear of missing out (FOMO) is real social pressure and constantly having to justify your choice to not drink can be emotionally draining and counterproductive to having fun with friends.
Thankfully, Pauline Idogho has a solution. Faced with a similar conundrum while pregnant, Idogho was struck by the lack of variety in non-alcoholic beverages. She took that realization, ran with it, and founded Mocktail Club — and she hasn’t looked back since.
With the number of American adults consuming alcohol decreasing since 2019 — down to 60 percent from 65 percent, the lowest range in two decades — it’s clear that the demand for non-alcoholic beverages exists. That is reflected in the industry’s growth. In 2022, the global non- and low-alcoholic beverage market passed $11 billion. Germany, a nation stereotyped for its love of beer, is the biggest market for non- and low-alcohol beverages according to the same report, but the United States, Australia, and Canada show increasing promise for growth. Marketing intelligence firm InsightAce Analytic estimates that by 2031 the market is forecasted to be worth $30.37 billion.
Idogho taps into — and contributes to — the global momentum with her twist on no-alcohol beverages. Inspired by her travels in Europe, Africa, the Middle East, and North America, Mocktail Club offers a variety of mocktail blends, each one is named after a location and its ambiance.
In addition to dismantling the social stigma surrounding our society’s alcohol culture, Mocktail Club works to improve access to the most essential drink of all: water. In a world where 1 in 4 people don’t have accessible drinking water, according to a 2022 study conducted by the United Nations, 1 percent of Mocktail Club’s sales go to helping global communities secure reliable access to drinking water. Mocktail Club does this through its partnership with Water for People, a nonprofit working in areas in Latin America, Asia, and Africa to address the world’s water crisis.
Listen to Pauline Idogho describe building her company in her own words and find out how you can help support Mocktail Club on her SheVentures podcast episode. Find recipes to create specialized mocktails on the Mocktail Club website.
Generate Income Thanks to Social Entrepreneurship
Huda Hamid’s Journey from Self-Taught to Teaching
After reading about these female social entrepreneurs, their success, and the ways they give back, it could be intimidating for the next hopeful social entrepreneur. The whole idea of creating a business, expanding it, and then utilizing your company’s success to better the lives of others can be daunting.
Huda Hamid and Fempreneur Secrets are prepared to help anybody tackle any obstacle standing in the way of creating an online business.
Fempreneur Secrets isn’t Hamid’s first business. Spurred on by financial necessity after her father’s death, Hamid founded Blissful Studios, a video production company, in 2014 with just a camera, a computer, and $800. Now, it works with Fortune 500 companies such as Hitachi and Prudential.
Fempreneur Secrets was founded in much the same way as Blissful Studios: with a camera and a computer. Hamid chose to start with zero funds to prove that building an online business from the ground up is possible with the items, knowledge, and community around you. Based in Singapore, Fempreneur Secrets is an online platform that provides women with the business know-how to successfully get their online enterprises off the ground and make some money.
Through free resources on its website and Instagram, as well as paid options for more in-depth counseling and tutorials, Fempreneur Secrets cultivates a community of women interested in learning more about becoming effective entrepreneurs. Taking advantage of the Internet’s wide reach, Fempreneur Secrets has helped over 400 women hone their entrepreneurial skills, according to Hamid.
In 2020, the Young Social Global program awarded Hamid $20,000 in seed funding for Fempreneur Secrets. Hamid gained not only recognition for her efforts but also more experience in developing a social entrepreneurship project but also the means to further Fempreneur Secrets’ reach and ability to serve women.
When she isn’t helping women entrepreneurs, Hamid volunteers with the Singapore Malay Chamber of Commerce, helping to build programs to assist female business owners and personally leading workshops. Hamid is a vocal proponent of educating women on how to run and expand their businesses.
Hamid is among the wave of young, female entrepreneurs leading social enterprises in Singapore — and directly contributes to it not only through her own participation but also through the efforts of Fempreneur Secrets and her podcast, Fearless Fempreneur Show, where she gives bite-sized tips and tricks for running a business and more business insight.
The Bottom Line on Social Entrepreneurship
From Shea Yeleen to Fempreneur Secrets, the types of businesses that embody social entrepreneurship are as varied as the women who build and lead them. Entrepreneurs like Wright, Markeviciene, Phillips, Idogho, and Hamid run businesses and address social causes — and innovate solutions.
The metrics for what constitutes a social enterprise are as fluid as its definitions and applications. Whether the enterprise is a nonprofit, B Corp, not-for-profit, or for-profit organization, the more important thing to focus on when determining if an enterprise is an example of social entrepreneurship is to look at intent and impact. If a business can’t provide you with real people, details, and measurable effects of their work, dig deeper.
Keep in mind that not all people claiming the title of social entrepreneur are genuine. Appealing to a customer’s social conscience can be used as a marketing gimmick (hello, greenwashing), and it can be effective if you aren’t careful.
So, as with all things concerning money, do your research. Sometimes, with established brands, it’s easy to fall into the trap of, “It’s what I’ve always bought.” A healthier, more investigative relationship with the brands we support can be fostered by a simple Google search. All it takes to start is: Is X company ethical? Be discerning of the sources you find and any potential hidden agenda.
You may discover in some cases that what you thought was social entrepreneurship is slick marketing. From there, it’s up to you to decide if you will keep supporting that brand. However, it can be tough to keep digging or even find the companies that are, in fact, ethically responsible.
Below are seven resources that can help anybody delve deeper into a company’s reputation and perhaps find new brands that align with the customer’s values.
Useful Resources for Staking Out Companies (for Customers and Business Owners):
One thing is for sure: True social entrepreneurs aim to be a positive force in the world. They take their business acumen or their managerial strategy and apply them to the real world. They take a step back from the world of profits and losses and ask themselves, “How can I also help people or the environment, and not only focus on the numbers?”
Combined, the total force of social entrepreneurship encompasses a vast array of causes. Social entrepreneurship’s limits are affected by the same things that affect regular businesses, but the causes they serve — and the methods used to support those causes — are limited only by the social entrepreneurs fueling the movement.
Quite frankly, after seeing how these five women have applied their skills and empathy, it’s hard to imagine any conceivable cap to social entrepreneurship’s potential to effect positive change across the globe.
