Govt has role to play in creating favorable environment for social business: Yunus
WIESBADEN, Germany, Nov 7 (UNB) - Nobel Laureate Prof. Muhammad Yunus has said that he always mentioned that government has a very important role to play not only in creating social business directly, but also to create a favorable environment for social business to operate and flourish.
“Governments in every country, whether local, regional or national, could implement, alongside their traditional programs, social businesses in different ways, to tackle all the issues that the government is entrusted to address,” he said in a statement from Yunus Centre on Sunday.
Prof Yunus, the founder of Grameen Bank and innovator of social business, said: “Government could set up social business geared to create jobs for the unemployed, address healthcare issues, address the needs of woman-headed households, and of old people, homelessness, and virtually any other social ill.
“It could also set up social business funds that finance social businesses. The role of government cannot be understated.”
He mentioned that Yunus Centre is already partnering in setting up social businesses with the governments of many cities, regions and countries around the world. These include, for example the city of Wiesbaden in Germany, the province of Caldas in Colombia, and the government of Albania among others.
Based on a cabinet level decision by the Japanese government, its development cooperation agency, JICA, is designing a social business fund, he said.
“These governments, and many others, are in the process of creating the necessary funding mechanisms and institutional structures that will enable social businesses to start operating in the near future.”
Prof Yunus further said: “In addition to what governments do, individuals and citizens have the opportunity to try to solve problems of society through social business. What I’ve been emphasizing is that social businesses should not enjoy any special favors or tax exemptions from the government, but be treated like all other business.
“In this way, with the participation of the citizens and the governments, I believe we would be able to solve society’s most pressing problems much more effectively,” he added.
“Governments in every country, whether local, regional or national, could implement, alongside their traditional programs, social businesses in different ways, to tackle all the issues that the government is entrusted to address,” he said in a statement from Yunus Centre on Sunday.
Prof Yunus, the founder of Grameen Bank and innovator of social business, said: “Government could set up social business geared to create jobs for the unemployed, address healthcare issues, address the needs of woman-headed households, and of old people, homelessness, and virtually any other social ill.
“It could also set up social business funds that finance social businesses. The role of government cannot be understated.”
He mentioned that Yunus Centre is already partnering in setting up social businesses with the governments of many cities, regions and countries around the world. These include, for example the city of Wiesbaden in Germany, the province of Caldas in Colombia, and the government of Albania among others.
Based on a cabinet level decision by the Japanese government, its development cooperation agency, JICA, is designing a social business fund, he said.
“These governments, and many others, are in the process of creating the necessary funding mechanisms and institutional structures that will enable social businesses to start operating in the near future.”
Prof Yunus further said: “In addition to what governments do, individuals and citizens have the opportunity to try to solve problems of society through social business. What I’ve been emphasizing is that social businesses should not enjoy any special favors or tax exemptions from the government, but be treated like all other business.
“In this way, with the participation of the citizens and the governments, I believe we would be able to solve society’s most pressing problems much more effectively,” he added.
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