Yunus spurs businesses in Ctg on social business

Nobel laureate Prof Muhammad Yunus yesterday called upon the businesses of Chittagong to initiate social businesses for the welfare of the people.

“Alongside your own business which brings you profit, you can also set up social businesses which will bring welfare for the people of the society,” the pioneer of the social business said.

He spoke while addressing a meeting with the top businesspeople in the port city. The Chittagong Social Business Centre Ltd (CSBCL) organised the event at the Chittagong Cub in the port city.

Through social businesses, entrepreneurs must think of solving a social problem as such businesses solely aim to do good for the society, said the founder of Grameen Bank, the largest social business organisation in the world.

In recent times, many countries, including Columbia, Haiti, Tunisia, Uganda, Brazil and India have adopted the concept of social business and set up a number of businesses.

Prof Yunus also said social business is different from charitable programmes.

"For donations or grants, people may have to invest once or twice. But in case of social business, people will not need to reinvest. Rather they will get back their investment, and a social welfare will be done years after years," he said.

Yunus Centre is currently working with 500 young entrepreneurs by giving them capital to start social businesses.

Prof Yunus also urged the businesspeople to start more social businesses.

MA Malek, editor of The Daily Azadi and convener of the discussion's organising committee; Prof Sikandar Khan, chairman and Amir Humayun Mahmud Chowdhury, managing director, of CSBCL, were also present.