INTEGRATION & GOVERNANCE - Integration in business through ethical governance between professionals and entrepreneurs
EU Transparency Register No. 846403610388-04
The EEIG network GETS INVOLVED
IN SOCIAL BUSINESS & ENTREPRENEURSHIP
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WHAT IS SOCIAL BUSINESS - Social business, as the term had once been commonly used, was first defined by Nobel Peace Prize laureate Prof.Muhammad Yunus and is described in his books Creating a world without poverty—Social Business and the future of capitalism and Building Social Business—The new kind of capitalism that serves humanity's most pressing needs.
In these books, Yunus defined a Social Business a business:
Created and designed to address a social problem
A non-loss, non-dividend company, i.e.
It is financially self-sustainable and
Profits realized by the business are reinvested in the business itself (or used to start other social businesses), with the aim of increasing social impact, for example expanding the company’s reach, improving the products or services or in other ways subsidizing the social mission.
Unlike a profit-maximizing business, the prime aim of a Social Business is not to maximize profits (although generating profits is desired). Furthermore, business owners are not receiving any dividend out of the business profits, if any.
On the other hand, unlike a non-profit, 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 self-sustainable. Furthermore, unlike a non-profit, where funds are spent only once on the field, funds in a Social Business are invested to increase and improve the business' operations on the field on an indefinite basis. Per Yunus' quote: "A charity dollar has only one life; a Social Business dollar can be invested over and over again."
EEIGroup poudly announces a cooperation agreement signed between EEIGroup and ERIIT - European Research Institute of Intermodal Transport to jointly promote the objectives of each other.
TAKE NOTICE - The EEIG Network has no relation to some organisations who claim to be official organisations or chambers in various jurisdictions, We reserve our rights against any organisation claiming affiliation to us except for those displayed in our official publications and website.
EEIG is an international organization with operations based in the United Kingdom, Belgium, Greece, Cyprus, India and Russia and are managed by SIE Europe Ltd and Metair Management Ltd.