Giving Compass’ Take:
• This article at Eco-Business details global charities’ efforts towards keeping social entrepreneurs afloat and supporting the world’s most impoverished during coronavirus.
• What challenges to social entrepreneurs face in remaining active? Why are these groups so essential right now, as coronavirus threatens the vulnerable populations thy often serve? How can you help social entrepreneurs get the funding they need?
• Learn more about why you should increase your giving exponentially in response to COVID-19.
A group of 40 global aid agencies and charities launched an alliance on Monday to help social entrepreneurs weather the coronavirus crisis, saying they provided a vital safety net for some of the world’s poorest people.
Members of the partnership, called the Covid Response Alliance for Social Entrepreneurs, collectively support more than 15,000 social entrepreneurs who help vulnerable and marginalised groups in about 190 countries.
“Social enterprises support the poorest of the poor and most vulnerable in our world… We have to help them help others,” Saskia Bruysten, CEO of Germany-based fund Yunus Social Business, told the Thomson Reuters Foundation by phone.
With many countries living under strict lockdowns, it has become harder for social entrepreneurs – many of whom are directly responding to the crisis – to keep their businesses afloat.
The alliance, which also includes the Skoll Foundation, Ashoka, the IKEA Foundation, the Global Impact Investing Network and Aspen Network of Development Entrepreneurs, has collectively raised $75 million to help social entrepreneurs in the crisis.
It will focus on helping social entrepreneurs in poorer countries where they act as the “de-facto social net” but struggle to receive government support, Bruysten said.
“These front-line organisations now face bankruptcy and severe constraints while they also innovate and respond to this global pandemic”, said François Bonnici, head of the Schwab Foundation for Social Entrepreneurship in a statement.
“Through this alliance, members are committing support for social entrepreneurs to protect decades of work in the impact sector,” he said.
Read the full article about keeping social entrepreneurs afloat by the Thomson Reuters Foundation at Eco-Business.
Since you are interested in Impact Investing, have you read these selections from Giving Compass related to impact giving and Impact Investing?
Looking for a way to get involved?
A good way to complement your interest in Coronavirus is to connect with others. Check out these events, galas, conferences or volunteering opportunities related to Coronavirus.
Are you ready to give?
In addition to learning and connecting with others, taking action is a key step towards becoming an impact giver. If you are interested in giving with impact for Coronavirus take a look at these Giving Funds, Charitable Organizations or Projects.