Nobel Laureate Praises Social Businesses

6 March 2014

Cambodia’s social business sector is in its infancy, but it will grow as the country’s youth turn their attention to addressing the problems plaguing their country, visiting Nobel Peace Prize laureate Muhammad Yunus said.

Social business, a term first coined by Yunus, is a business created to address a social problem. Such businesses are financially self-sustainable and the profits are reinvested in the business to boost their social impact.

Yunus won the Nobel Peace Prize in 2006 for his work to create economic and social development for the poor through microcredit. In 1983, he founded the Grameen Bank, which provides microcredit to those in need.

Source:
http://www.cambodiadaily.com/business/nobel-laureate-praises-social-businesses-53645/