Characteristics Of Sustainable Entrepreneurship

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In this section, we briefly scan some types of entrepreneurship that are valuable and directly improve society and economy. The domain of firms’ activity is a distinguishing factor that provide an insight about their role and characteristics. Entrepreneurial activities can vary with respect to industry and to their goal. Sustainable entrepreneurship have become important since it not only can slow the deterioration of environment but also perform toward the improvement of ecosystem.
Recently, public awareness and policy makers have pressured big firms to improve their environmental and social performace. This can be the moment for entrepreneurs to fill this gap.
Cohen & Winn (2007) study the link between market imperfection and sustainable
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Sustainable entrepreneurship or as Wikipedia names “sustainopreneurship”, is an emerging area in entrepreneurship that has attracted many researchers as the sustainable development is getting more attention than before. Shepherd & Patzelt (2011) describe the characteristics of sustainable entrepreneurship. “Sustainable Entrepreneurship is focused on the preservation of nature, life support, and community in the pursuit of perceived opportunities to bring into existence future products, processes, and services for gain, where gain is broadly construed to include economic and non-economic gains to individuals, the economy, and society” (Shepherd & Patzelt, 2011, p.…show more content…
81) Moreover, in their paper Dixon & Clifford (2007) explain that eco-entrepreneurship is a combination of three dimensions of environmental, social and economics. As Grelach A. puts into word, social entrepreneurs combine their business skills with social concerns to create new services for social welfare. And, social entrepreneurship comes from such innovative individual or organization whose main goal is social aspect (Gerlach A. 2003). A very rich literature about the categories of sustainable entrepreneurship can be found in a paper by Schaltegger & Wagner (2011).
These types of entrepreneurship are not excluded from the financing challenges. Bergset (2015) express her concerns about the financing of green start-ups and the challenges they face for raising fund. Due to the characteristics of Green startups, like the fact that profit is not the main goal, investors seem to be more cautious in approaching such firms. Bergset (2015) express that theories of entrepreneurial finance can not explain this gap and propose that a behavioral approach is needed to rationalize this
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