Abstract

In short, social entrepreneurship is an approach to recognizing a social problem and using entrepreneurial principles to organize, create, and manage a venture to achieve social change. Furthermore, microfinance is an approach of providing banking and other financial resources to low-income clients who otherwise would not have access to such financial resources. While social entrepreneurship and microfinance are not a new phenomenon, this approach to utilizing entrepreneurial and business principles to achieve social change has increased in popularity and usage across the world in recent years. As we live in an increasingly hyper-competitive and interconnected globalized world, social entrepreneurship and microfinance practices are increasingly being taught in top universities and being utilized more and more to drive social change and to give a hand up to those in need around the globe.