A guide to Social Business

The concept of social business was first defined back in 2008 by Nobel Laureate Professor Muhammad Yunus.  The major point of this business was to address a social issue through business. Since then entrepreneurs around the world have been implanting this idea to make a positive change. Countries such as Germany, Italy, and Japan are implementing social business at such a large scale that their cities, for example Wiesbaden, Luxemburg and Fukuoka, are being called social business cities. For social business enthusiasts, Bangladesh is considered the pioneer as it was the first country where social business was first established. That is why Chinese youth organisation YouThink with the help of Social Business Youth Alliance (SBYA) organised 'Chinese Youth Social Business Competition' in Bangladesh.

The competition was held from August 11 to 15. Hundreds of high school applicants around the world applied for the competition and among them, 14 were selected and came to Bangladesh. The aim was to draw up a social business plan which addresses China's social problems. The first day of the competition kicked off with a meeting with the father of social business, Dr Muhammad Yunus. “The way he talked about social business really inspired us. Though I am still young but I am sure that at some point of my life I will start a social enterprise,” says Amy, one of the applicants.

The next mission was to coach the applicants on business development and investors pitch. They were trained by our country's finest social business experts such as Mr Ferdous Mottakin, CEO, Offroad Bangladesh; Mr Wahid Hossain, CEO, Oikkotan and Mr Shazeeb M. Khairul Islam, CEO, SBYA. This is where the blue prints of their social business plan were made.

The first round of the competition was held on August 13 where the applicants presented the first draft of their business plan. This round was judged by Tafsir M Awal, Director of Panther Social. These applicants were constantly mentored by SBYA members. “Without them our plans would have never kicked off. Their regular effort made all these possible,” says Soku, an applicant from China. The first round established the top seven, who went to the finals.

On August 15, it was judgment day for the applicants as it was the final round. The judging panel for the final round included Lamiya Morshed, Executive Director at Yunus  Center, M F M Amir Khashru, General Manager at Yunus Centre, Alex Wang, President at Youthink Center and Shazeeb M Khairul Islam, Founder and CEO, SBYA Global. After the dramatic presentations, the business plan by Ami which was aa organic farming solution of China finally won the competition. The winner on his speech said, “It was a life time experience which we will never forget. Though we are all children now, but every one of us is now going to go back and make a change in our society and that we can promise.”