Social business was defined by Nobel Peace Prize laureate Professor Muhammad Yunus and is described in his books. In these books, Yunus defined a social business as a business: Created and designed to address a social problem. A nonloss, nondividend company, i.e. It is financially selfsustainable and.
A social enterprise is a type of business model that aims to solve social challenges while simultaneously providing goods or services. Social businesses also add to competition and bring a brand new dimension to the business world: promoting and engaging with a new sociallyaware…
On the other hand, unlike a nonprofit, a social business is not dependent on donations or on private or public grants to survive and to operate, because, as any other business, it is selfsustainable.