Financing social enterprise in the United Kingdom

Responding to new challenges in competitive markets

Walter Mswaka, Olumide Aluko, Safaa Hussein, Armindo dos Santos de Sousa Teodósio, Cai Huifen

Research output: Contribution to journalArticle

Abstract

Social entrepreneurship activities continue to make a significant contribution to the development of the United Kingdom’s (UK) economy and remain at the core of the government’s strategies for ameliorating socio-economic deprivation across the country. Despite the growth of this type of business activity, a key area that requires further analysis is how social enterprises respond to the funding challenges posed by globalisation, declining state support and increased demands for social welfare interventions. These challenges also come at a time when the UK government is encouraging communities to explore innovative ways of tackling socio-economic deprivation, through innovative and sustainable business practices. Drawing on a qualitative case study approach of social enterprises in South Yorkshire UK, this research contributes to extant literature by scrutinising the operations of social entrepreneurs in resource-constrained environments. By employing components of Kirzner’s (1973) theory of entrepreneurship, the findings of this investigation highlight how opportunity spotting and innovation in financing strategies have enabled social entrepreneurs in South Yorkshire to widen their organisations’ sources of financial resourcing. This study is of particular benefit to policy makers and researchers in social enterprise.
Original languageEnglish
JournalInternational Journal of Entrepreneurship and Small Business
Publication statusAccepted/In press - 19 Jun 2019

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Financing
Competitive market
Social enterprise
Entrepreneurs
Deprivation
Government
Socio-economics
Resources
Sustainable business
Financing strategy
Business practices
Entrepreneurship
Business activity
Politicians
Innovation
Globalization
Funding
Social welfare
Social entrepreneurship

Cite this

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title = "Financing social enterprise in the United Kingdom: Responding to new challenges in competitive markets",
abstract = "Social entrepreneurship activities continue to make a significant contribution to the development of the United Kingdom’s (UK) economy and remain at the core of the government’s strategies for ameliorating socio-economic deprivation across the country. Despite the growth of this type of business activity, a key area that requires further analysis is how social enterprises respond to the funding challenges posed by globalisation, declining state support and increased demands for social welfare interventions. These challenges also come at a time when the UK government is encouraging communities to explore innovative ways of tackling socio-economic deprivation, through innovative and sustainable business practices. Drawing on a qualitative case study approach of social enterprises in South Yorkshire UK, this research contributes to extant literature by scrutinising the operations of social entrepreneurs in resource-constrained environments. By employing components of Kirzner’s (1973) theory of entrepreneurship, the findings of this investigation highlight how opportunity spotting and innovation in financing strategies have enabled social entrepreneurs in South Yorkshire to widen their organisations’ sources of financial resourcing. This study is of particular benefit to policy makers and researchers in social enterprise.",
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author = "Walter Mswaka and Olumide Aluko and Safaa Hussein and {dos Santos de Sousa Teod{\'o}sio}, Armindo and Cai Huifen",
year = "2019",
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Financing social enterprise in the United Kingdom : Responding to new challenges in competitive markets. / Mswaka, Walter; Aluko, Olumide; Hussein, Safaa ; dos Santos de Sousa Teodósio, Armindo; Huifen, Cai.

In: International Journal of Entrepreneurship and Small Business, 19.06.2019.

Research output: Contribution to journalArticle

TY - JOUR

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AU - Huifen, Cai

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