Kathmandu, September 23 : Nepal Social Business is the first or its kind initiative in Nepal where social business’s seven principles coined by Noble Laureate Professor Muhammad Yunus is being implemented. It is a joint initiative of Chaudhary Group’s CG NSB and Lions Club International. Nepal Social Business aims to address social issues faced by our nation through social business. Its mission is to help social business to grow in Nepal , which solves social problems while at the same time is self-sustaining and with the potential to grow and scale itself.
Core activities of NSB will be to do awareness,incubation and funding. Awareness will be to spread concept of social business. In incubation they will do the training,mentoring and expert consultations. After incubation Â they will invest in the concept that will be developed into Social Business Plans. We will invest into the best social business ideas and help them to grow.
Social issues faced by society are getting more complex and dynamic that they cannot be addressed solely by the governments and traditional social-sector organizations.Social business is a new approach which applies social business principles to address social issues in economically sustainable manner. Social business is a combination of a NGO and a business. It has a social objective similar to a NGO and it is financially sustainable like a business. According to Professor Yunus, the father of social business, it is financially sustainable organization solely to solve social problem. Whereas, original investments may be recouped,all potential profits and interest are reinvested to further improve and diversify the social impact. For countries like Nepal which are highly depended on donor funds,social businesses can become a change for sustainable as well as socially fair development. With its focus on social impact and sustainability NSB believes that through creation of social business they can accelerate the development of Nepal and solve our pressing social needs. The projects pass through various commitments: Social Impacts Assessment(SIA) Committee, Incubation Committee and Investment Committee. The independent SIA Committee will do detail assessment of the proposed concept after they have been incubated.They will look for some detail information on how the social impact will be made through this social business and how significance is the impact. After the approval from this committee it will be presented to Investment Committee.
Chaudhary Group started its partnership with Yunus Centre in December 2012 to implement social business in Nepal in form of CGNSB. In July 2014 during Lions Club International Convention in Toronto, CG Nepal Social Business (CGNSB) and LCIF signed official partnership and formed Nepal Social Business.
Few incubated pilot projects in Jumla are Karnali Miteri Udgyog, Tatopani Ecotourism, Organic Phalphul Tatha Khadya Prasodhan, Miteri Shanti Batika.