Social Business for Sustainable Economic Development

Abstract

By making poor people owner of a business or enjoying the business by serving them with product or services without taking any personal profit is the concept of social business which stands on seven principles created by noble laureate Professor Dr. Muhammad Yunus. This study attempts to explore about social business and its possibility toward sustainable development.Today’s civilization is in wrong track. To protect the civilization and make a better world United Nations provided 17 sustainable development goals to fulfill within 2030. Social business created a new dimension and showed an innovative way to achieve these goals by doing business at the same time solving social problems. This study will cover all detailed information social business, how it works, how it generates profit, business model and types of social business, social challenges in Bangladesh, already running social businesses etc. At the same time this report will also cover how social business can help to achieve sustainable economic development by solving these social challenges.