Who We Are
Nepal Social Business (NSB) is joint initiative of CG Nepal Social Business (CG NSB) and Lions Club International Foundation (LCIF) to address social issues faced by our nation through social business. Now, Industrial Entreprise Development Institute (IEDI) has become strategic partner since 15 February 2015. IEDI, especially is working on training related activities after signing in Memorandum of Understanding. Chaudhary Group has been involved in various philanthropic activities as a part of Corporate Social Business (CSR) where CG NSB is their contribution to society more than just CSR. Lions Clubs International Foundation (LCIF) has been supporting various Lions’ compassionate works by providing grant funding for their local and global humanitarian efforts. Chaudhary Group (CG) and LCIF have been active in various social activities in Nepal since many years on their own. Two organization signed partnership on 7th July 2014 at Lions International Convention held at Toronto, Canada. Now this partnership aims to create greater social impact and accelerate the development works. In this partnership CG is taking care of all administrative budgets and LCIF is doing incubation and investment.
Social issues faced by society are getting more complex and dynamic that they cannot be addressed solely by governments and traditional social-sector organizations. For this we have social business which is a new approach to apply business principles to address social issues in financially sustainable manner. According to Professor Yunus, the creator of social business, it is a financially sustainable organization solely to solve social problem. Whereas, original investment may be recouped, all potential profits are reinvested to further increase the organizations social impact. Social Business is combination of NGO and Business, where it has social objective like NGO, but financially sustainable like business. Seven Principles of social business by Prof Yunus are;
- The objective of a Social Business is to overcome poverty, or one or more problems (such as education, health, technology access, and environment) which threaten people and society. The primary objective of a Social Business is not profit maximization.
- Social Businesses must become financially sustainable in the long term and not forever dependent on grants.
- Investors get back their investment amount only. No dividend is given to investors beyond their initial capital.
- Once any investment has been paid back, the Social Business re-invest all profits back into the company for expansion and improvement of social impact.
- All Social Businesses must be environmentally conscious.
- The workforce in Social Businesses must get market wage with better working conditions.
- Social Businesses are conducted with joy, to improve people’s lives.
Country like Nepal which is highly depended on donor funds, for its development works, social business is a way forward. With its focus on social impact and sustainability NSB believes that through creation of social business we can accelerate the development of Nepal and solve our pressing social issues.
Nepal Social Business is working in alliance with the Yunus Centre, who have been in solidarity with CG NSB since its establishment. Therefore we are adopting the 7 principles of social business as defined by Nobel Laureate Professor Muhammad Yunus.
Nepal Social Business aims to cultivate social business in Nepal. Our mission is to help social businesses to grow in Nepal, who solve a social problem while in the same time are self sustaining and with the potential to growth and scale.
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