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Social business to create a world without poverty October 15, 2008

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Dr. Muhammad Yunus proposes a new concept-social business after his microfinance is accepted and practiced in more than 100 countries and by 100m people. By social business he means a new kind of business where the investors will invest their money in businesses but will take no dividends.The money will be recycled in the business to create jobs for the poor and to create more opportunities for them.

Muhammad Yunus believes charity can not bring the maximum benefit to the society. He thinks charity is of one time use. In social business the money will be multiplied and reused for the benefit of the society.

But why a man would go for the business which will not earn him profit? He says human being are two dimensional- one of his self always thinks for the good of him but the other self also thinks good of the others.
This other self will turn him to social business.

To make that his idea of social business is not mere a theory, he ventured with Danone to form a company -Grameen-Danone Food Products in Bangladesh to produce yogurt in small packages for consumption by the poor children to improve their nutrition.The total backup and forward linkages were set up in such a way that the benefit
goes specifically to the poor. I made a visit by myself to the plant at Bogra and was simply impressed by it. The second project of Yunus is with The Green Childrena USA based teenagers band that started an Eye Hospital in Bangladesh on the concept of social business.

Dr. Yunus hopes that one day separate share markets will be developed for the social businesses and only social businesses and enterprises will be enlisted there.

Yunus compiled all his ideas of social business in the book by the name ‘Creating a World Without Poverty-Social Business and Future of Capitalism’.

He virtually has given a new direction for the capitalism in the future. He hopes that in the near future the poverty will be eliminated and the only place where one will get the opportunity to see poverty is the museum.

He also believes that technology will help to alleviate the poverty to large extent. The Grameen solar system that earned international fame also brought light to thousands of houses in the villages of Bangladesh. Family of Grameen is also thought to be a sort of social business.

We hope that the social business will gradually be more accepted and spread all over the world and the dream of Muhammad Yunus of a poverty free world would come true.

An ordinary citizen


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