IMPACT OF THE COVID-19 PIDEMIC ON THE SOCIAL ENTREPRENEURS DEVELOPMENT
DOI:
https://doi.org/10.31891/mdes/2023-8-7Keywords:
COVID-19 pandemic, social entrepreneurship, financial sustainability, changes in demand, social recoveryAbstract
Social entrepreneurship aims to address social problems and meet the needs of vulnerable groups or society as a whole. The main goal of social entrepreneurship is not only to generate profit but also to improve people's quality of life, promote social integration, and enhance well-being. The article examines the consequences of the pandemic on the social entrepreneurship sector and its role in social and economic recovery. Due to the global crisis caused by COVID-19, social enterprises face significant challenges and opportunities. The article focuses on three key aspects. Firstly, it analyzes the impact of the pandemic on the financial sustainability of social enterprises. Reduced financial resources, limited access to funding, and worsening economic conditions affect the ability of social enterprises to fulfill their social objectives. Secondly, it explores changes in the demand for products and services of social entrepreneurship during the pandemic. Shifting priorities and consumer behavior influence the market demand for social products and services, requiring appropriate adaptations by social enterprises. Lastly, it considers the role of social entrepreneurship in social recovery post-pandemic. It highlights the opportunities provided by social entrepreneurship in creating new jobs, developing innovative solutions, and addressing social problems exacerbated by the crisis. The article analyzes the need for support to social entrepreneurship during the pandemic, including providing financial assistance, creating a favorable regulatory environment, and developing mechanisms for partnerships with government and civil society organizations. This article provides an overview of the current state of social entrepreneurship in the context of the COVID-19 pandemic and contributes to understanding the impact of the crisis on the development of this sector. The research indicates the necessity of seeking new strategies and approaches to support social enterprises in challenging conditions and emphasizes the potential of social entrepreneurship in societal recovery post-pandemic.
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