Social entrepreneurs shrug off credit crunch fears

Social entrepreneurs are less concerned about the effects of the credit crunch than first thought, according to a new mini-survey from the Social Enterprise Coalition.

The research, based on 182 responses, found that 87 per cent of entrepreneurs considered the business situation for enterprises to be good or satisfactory.

Fewer than half of enterprises said that the events in the credit markets over the past six months had made their financial situation worse, and 45 per cent said it had not affected them at all.

Twelve per cent of respondents even thought that their financial situation was better than it had been six months ago.

"The initial results from our survey indicate that, in spite of the credit crunch, there is optimism among social enterprises about their business situations," said George Leahy, director of research and policy at the coalition.

"It's possible that, although they look to make profits, they are primarily driven by their social or environmental goals and have a more resilient structure in place to handle an economic downturn.

"In fact, a number of social enterprises mitigate the crunch by working with people and communities most adversely affected by economic uncertainty."

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