Will Social Enterprise enrich Entrepreneurship? | Bahasa

Indonesia, 25 Sep 2020 - The global entrepreneurial climate, including in Indonesia, is shifting. Social entrepreneurship or social enterprise has evolved as a new term to replace the once-popular term entrepreneur. There are about 100 countries that have adopted social enterprise as a concept, with 303 policies and instruments issued globally. That is why Bank DBS Indonesia, which focuses on creating a sustainable environment and business, has been working with social entrepreneurs in the last five years.

What is a social enterprise? A social enterprise or social entrepreneur is an enterprise that combines the basic business concept of pursuing profit with an additional goal or obligation to create an impact on the social environment, in this case addressing problems in society.  An entrepreneurship not only maximises profit or income but also increases benefits to solve social problems. Thus, social enterprises have an effective business model to support their independence, sustainability, and to scale up their social impacts.

In Indonesia, social enterprises are starting to show promising forms and results, as in the case of the Cinta Anak Bangsa Foundation that has provided access to education for more than two million underprivileged children. There is also the Mitra Dhuafa Cooperative that has provided access to decent basic financial services for more than 600,000 poor and low-income people. Bina Swadaya, an organisation that was established more than 50 years, has helped set up hundreds of thousands of Self-Help Groups in Indonesia so that local people are aware of and able to develop their capability. Bina Swadaya has proven that if managed properly, social enterprises can survive and expand their positive impacts and influence.

DBS Foundation, which continues to support the growth and development of social enterprises or social entrepreneurs in Indonesia, has carried out various activities and support programmes, from mentoring sessions to grants. As one of the support programmes for the development of social entrepreneurship in Indonesia, DBS Foundation, together with the UKM Center, FEB UI, in 2016 published a book entitled Berani Jadi Wirausaha Sosial? (Do You Want to Become a Social  Entrepreneur?). The publication of the book has made DBS Foundation, which is part of Bank DBS Indonesia, a pioneer of as well as a major player in the industry that educates Indonesians about social enterprises.

To carry on the first series and provide the latest information and updates on the condition of and tips related to social enterprises in Indonesia, at the end of August 2020, DBS Foundation collaborated with UKM Center, FEB UI, to publish a follow-up series entitled Profit untuk Misi Sosial (Profit for Social Missions). The book serves as a reference for people from various backgrounds; people who want to start developing a business into a social enterprise, including businesses planning to transform into social businesses or social businesses hoping to gain more insights. The book is available for download free of charge at go.dbs.com/id-sehb.

"We always focus on supporting and advancing social enterprises in Indonesia through various programmes, from education, mentoring, business training, empowerment, to grants. The publication of the book Profit untuk Misi Sosial, the second book jointly published by DBS Foundation and UKM Center, FEB UI, was part of the education programme. We believe that social entrepreneurs are the future of business because apart from running their business, they are also able to create positive impacts and solve social issues. Therefore, we are proud to publish this book, which is expected to raise awareness and educate Indonesians about social entrepreneurship,” said Mona Monika, Head of Group Strategic Marketing and Communications, PT Bank DBS Indonesia.

The impacts created by social enterprises have been increasingly felt, thanks to the encouragement and cumulative efforts from various parties through financial support. The Deputy of Financing, Ministry of Cooperatives and MSMEs, for example, created an annual programme called “Bantuan Pemerintah bagi Wirausaha Pemula” (Government Assistance for Start-up Entrepreneurs) for micro social enterprises. The assistance is given to 2,500 entrepreneurs who operate for a minimum of six months and a maximum of three years with a maximum funding of IDR12 million per business. Apart from the government, the private sector also provides support. DBS Bank, for example, awards SGD50,000 to SGD250,000 of grants every year through DBS Foundation’s Social Enterprise Grant programme. The programme, designed for profit-for-benefit social enterprises with validated business models, is carried out in several countries in Asia including Indonesia.

The development of social enterprises in Indonesia has inspired many parties. This is because social enterprises enable social entrepreneurs to do business and spread goodness with business potentials that guarantee a sustainable economy. Moreover, there are various social problems in Indonesia that still need to be solved with support from various parties. This in turn offers new opportunities for prospective social entrepreneurs, making social enterprises the 'future of business'.

Support and resolution of social problems are increasingly needed due to the spread of Covid-19 that is predicted to increase the number of underprivileged people by 5.71 million and the number of unemployment by 5.23 million. These problems will only add to other social problems that remain to be solved, such as access to clean water, the environment, the use of renewable energy, and many more.

 

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About DBS

DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.