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Report: Revenues of 10 million social enterprises worldwide hit $ 2 trln
* Women leading 50% of social enterprises worldwide
The Schwab Foundation’s milestone report, The State of Social Enterprise 2024, estimates there are 10 million social enterprises worldwide, generating around $2 trillion in revenue annually and creating nearly 200 million jobs. There is also growing evidence that such organizations bridge the gender gap, with women leading 50% of social enterprises worldwide.
This inspiring new wave of leaders’ innovative models challenges established methods to create sustainable practices in businesses, social development and environmental initiatives, demonstrating that economic value can coexist with substantial social and environmental progress.
In these critical times, social entrepreneurs and innovators are essential and serve as lighthouse examples of effective approaches. They are transforming healthcare and education, advancing equity, creating livelihoods for those excluded from markets and economies, and demonstrating climate action hand-in-hand with communities.
They also contribute to shifting away from top-down, single-organizational approaches by facilitating collaboration between key actors and empowering citizens and local groups to effect change in their own communities.
Over these past few decades, social innovation has moved from the margins towards the mainstream, from policies that promote it in over 30 countries, to partnerships with businesses to scale impact.
Social enterprise is larger than the $1.79 trillion apparel industry and almost twice the size of the $1.01 trillion advertising industry.
In addition to uncovering important insights, this study reveals gaps and challenges in social enterprise data. These challenges include the availability and quality of data, the comparability of the available data and the difficulty with quantifying social and environmental value creation.
Addressing these challenges will be critical to creating a clearer understanding of the state of social enterprise globally. Strengthening national-level social enterprise data and statistics will also provide better information for governments, businesses and investors to produce enabling conditions for social enterprises to thrive.
Closing these gaps is a collective challenge to be addressed by leading sector organizations, governments, international operations and academics around the world.
“The work of social entrepreneurs and innovators continues to be not only relevant, effective, and impactful, but also fundamental in changing the status quo across many aspects of daily life,” Hilde Schwab, Co-Founder and Chairperson at the Schwab Foundation for Social Entrepreneurship.
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