Article
Inclusive Business Models: Driving Growth Through Social Entrepreneurship
The concept of inclusive business models has been on the rise as a viable approach to integrating the economic and social performance in the context of increasing inequality and developmental challenges. This paper delves into the aspect of social entrepreneurship in adopting inclusive strategies to involve the marginalised communities in value chains as customers, suppliers and partners. The study looks at different areas of the inclusive business model like affordability, accessibility, scalability and sustainability and their effects on inclusive growth. The paper explains through secondary data and illustrative examples how innovative strategies such as micro-distribution, localised production and technology-based platforms can be implemented by businesses to overcome market and resource limitations. These findings indicate that the inclusive business models do not only expand market opportunities but also enhance their livelihood conditions by creating livelihoods, access to basic services and empower the disadvantaged. Nonetheless, these models face challenges of financing and regulatory environments and in balancing social and economic objectives. It proposes partnerships, policies, and impact investing as critical in cultivating such initiatives. Considering inclusive business as a part of the wider concept of social entrepreneurship, the paper contributes to the understanding of ways in which a company can become a transformational force to enhance inclusive development and stay competitive. The research findings conclude that the inclusive business models are a possible solution to sustainable and sustainable development, especially in emerging economies, where the borders between the social and market opportunities overlap.