Connecting consumers to products and brands with efforts and accountability leads to empowering livelihoods, making a difference.
There has been a significant 20% increase in social enterprises in India every year due to increased awareness towards a sustainable future, impact-oriented businesses, many social interventions, and others. The rise in rural industry has also led to innovation in business and how it operates. Social enterprises act as promoters to solutions with last mile connect for rural needs. These businesses facilitate scope for change and empowerment in various ways. Despite the increased interest in the company in rural India, employment opportunities for the rural population remain a big concern. Most rural inhabitants migrate to urban areas searching for work or staying in rural areas for a meager wage. This lack of income fulfillment becomes a severe challenge in rural India.
Social enterprises have laid the foundation for micro-level entrepreneurship impact-based business alongside an opportunity for rural citizens to learn and earn better through an elevated lifestyle. Rural India is a pool of talent and determination. Still, due to the lack of technological advancements in rural areas, a connectivity gap has limited opportunities. The struggle of major brands to reach rural villages is one such example. However, now most businesses utilize the rural market opportunity via social enterprises working in the rural sector, narrowing this gap.
Social enterprises are now redefining businesses in rural India by connecting rural consumers with quality products and services at affordable prices through a progressive livelihood approach and reframing norms about agriculture being the only way of livelihood for people in rural areas. This unique business model followed by social enterprises allows for a two-way development process for both brands and rural populations, diminishing the connectivity gap.
Value based supply chains through the lens of entrepreneurship are delivering impact and driving change. Connecting consumers to products and brands with efforts and accountability leads to empowering livelihoods, making a difference. Social innovation with innovative commercial models have gained momentum, highlighting the business with impact. Creating social values articulated for larger changes, entrepreneurial activities are linked to discovery to innovation and development.
With smartphones and internet connectivity, technological advancements in rural areas have helped consumers connect to larger economies at their fingertips. These developments have played a predominant role in flourishing the overall lifestyle with dynamic support in infrastructure, literacy and innovations. Ideas like micro-entrepreneurship have come as a solution for the increasing unemployment, where people can earn extra income in self-employment. To sustain business in rural areas, access to services and opportunities with continued resource development plays a significant role. The opportunities offered to rural entrepreneurs make them feel empowered and learn through partnerships, mentorships, and educating themselves about technology. Newmarket opportunities due to a connection fabricated via micro-entrepreneurship. Social entrepreneurs act as intermediaries between businesses and brands mobilising ideas, resources, transformation for the benefit of the community. Women are active participants in these businesses where they have the chance to enhance their economic status and social standing.
Establishing trust and rapport within rural communities leveraging their social capital and utilizing their fundamental skillset , rural entrepreneurs have collected customer insights that help brands curate products specific to rural consumers. Using the trusted influencers of society like women has further allowed an increased overall impact. With necessary advancements, inputs, and an in-depth understanding of business complexities in rural India, impact-based ideas are addressing the crucial challenges of the ecosystem.
This self-reliant business model ensures overall development in rural villages with a more significant push for economic growth. More family members are now self-sufficient, contributing to family income, increasing the general purchasing power of the rural customer, and leading towards a better quality of life for rural India. The concept of social business is here to last.
Source: Business World