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‘Young people need
not just be job seekers, they can be job creators.” During a quick stop
in Bangkok this week, those were the words of 2006 Nobel Peace Prize
laureate Muhummad Yunus, founder of Grameen Bank.
Those words during a recent symposium and
lunch with Professor Yunus got me to thinking _ whether you are young
or old, the only way for any nation, whether Thailand or my home
country of the US, to move forward is for citizens to get active. That
can mean voting in a local or national election, it can mean
volunteering to help out a favourite cause, or it can mean starting a
business _ but not just any business, a “social business”.
It’s not often that a Nobel Peace Prize
winner finds the time to come to Thailand to share advice for young
people aspiring to both do good and do well _ and who aspire to do so
by starting a business. But that’s what happened. And Thailand is all
the richer for it, if not yet in income and programmes for the poorest
of the poor, at least in new ideas and encouragement from someone whose
words matter.
At a symposium jointly organised by the
Yunus Centre at the Asian Institute of Technology and a range of local
institutions, including the Thai Health Promotion Foundation, the Thai
Social Enterprise Office and the Thailand Management Association,
Professor Yunus declared, “When I see a problem, I create a business to
solve it.” This is, after all, the man who not only created
microfinance organisation Grameen Bank, but who has also gone on to
help create other businesses to address critical issues ranging from
malnutrition to malaria in his home country, Bangladesh.
Described as “a new business model for
the new millennium,” a social business, according to Professor Yunus is
one that “puts back the humanity into doing business”. It is a business
model that also recognises that businesses and the individuals and
shareholders behind them are driven by more than simply maximising
profit.
Making money certainly helps create
happiness, the Nobel laureate noted. That’s human nature. But, he
added, experience shows that stakeholders _ from employees to investors
_ can also find value in backing a business venture or subventure that
has aspirations other than making money. Being both selfish and
selfless are also human nature.
At its simplest, a social business is
defined as a non-loss, non-dividend company dedicated to a social
cause. A successful social business by its very definition must also
cover its operational costs by charging for its products and
services.
Whether or not it’s revolutionary, the
time has come for Thailand and other nations to harness this as
individuals and businesses increasingly recognise the limitations of
government and traditional charities to launch and sustain
self-supporting businesses designed to do good.
At the recent symposium, four young
founders of social enterprises stood before Professor Yunus and leaders
from Doi Tong, Premier Group, ThaiHealth, TMB Bank and others to share
their ideas. Panita Topathomwong talked of A-Chieve’s efforts to build
a business around helping young people with internships and learning
about the corporate world. Phuttamon Phunpiam discussed Freedom
Solution and helping people with handicaps succeed.
Sirachai Arunrugstichai spoke of the work
of New Heaven Reef Conservation Programme to build a business that
brings together the community to advance more eco-friendly tourism.
Alan Archapiraj discussed a range of social business ideas, from his Be
Magazine to a dynamic new computer application.
Who knows? Perhaps in that group we may
one day find our next Nobel prize winner.
