Towrads rethinking of entrepreneurship: Social entrepreneurship

Abstract

Social entrepreneurship is highlighted as a result of general entrepreneurship development because the traditional entrepreneurial factors are accomplished with the social aspects of common good. Entrepreneur's responsibility in choosing the main business activity within an industry increases if the way he conducts his activities is considered. Institutional support for social entrepreneurship is achieved by generating many business activities in order to fulfil different kinds of social needs. Social entrepreneurship is possible if both entrepreneur’s initiative and institutional support for small and medium sized enterprises (SME) are included in performing for traditionally non-profit activities. Allowing private initiative to fulfil the real needs of different users in social, educational, cultural and other non-market fields is a good way to support SMEs. However, the institutional control should still remain in place in order to protect the minimum performing standards. SMEs contribute to the Croatian national economy as an important part of the process of transition and adjustment to the democratic societies and market economies. Based on the participation in generating Croatian GNP and contributing to the rate of employment, SMEs should have permanent institutional support. This is the primary purpose of newly established Ministry for Entrepreneurship and SMEs. The development of social entrepreneurship in transition countries is important for general economic development, but also for the supporting values of ethics in business activities.