Yunus Social Business was born out of the now renowned social business model (“no loss no dividend”) conceptualised 30 years ago in Bangladesh by Nobel Peace Prize Laureate Professor Muhammad Yunus. Yunus Social Business – Global Initiatives (YSB) was co-founded in 2011 to support social entrepreneurs on a global scale. YBS currently works in seven countries, where, through their local country teams, they accelerate and finance early-stage and scaling social businesses, using well-tested methods to enable local entrepreneurs to build solutions from the ground up, and grow social businesses that matter.
They provide two levels of services: Entrepreneur Services is a 3 month accelerator structured program, selecting , coaching and mentoring high-potential early-stage entrepreneurs. The Financing program provides support for more established social businesses through debt or equity, in the form of soft loans and grace periods according to each business’ needs, combined with 6 to 8 years of post-investment support.
An example of social business they support is DIGO, the only major manufacturer of domestic cleaning products in Haiti. DIGO works with micro-entrepreneurs to help them increase their income by selling cleaning products to end-customers. In 2014 they increased the income of over 100 micro-entrepreneurs in Haiti. Yunus Social Business provided financing for DIGO, both from their direct philanthropic investors and leveraging from co-investors. They also supported the DIGO team through facilitating access to experts in distribution networks and supply chain systems, which were needed to sustainably scale the business.
Yunus Social Business brings many years of experience in incubating and financing ventures in developing and low-mid-income countries, including experience in policy and advocacy work, which they share with GSEN members, and they also benefit.
"GSEN has done a tremendous job in advocating our work and thereby, sharing our experiences. Starting with the GSEN Learning Week, we have had plenty of opportunities to interact with groups of peer organisations and/or individuals. The GSEN team have continuously kept our organisation on the radar and created opportunities for us to share our knowledge in workshops, studies or speeches."
Yunus Social Business