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The world's 10 million or so social enterprises are twice the size of the global advertising industry, according to a new report from Social Enterprise UK.
And they're helping to solve some of the world's biggest problems, including poverty, climate change, and inequality, the Guardian reports.
Last spring, the UN adopted a resolution recognizing the role social enterprises, cooperatives, and others play in creating a sustainable future.
The Social Enterprise UK report estimates that there are social enterprises with an annual revenue of around $10 billion, and it cites a recent study by the World Cooperative Monitor that found many of the world's top social enterprises are located in countries that have some of the world's worst poverty rates.
"There's a huge opportunity for social enterprises to solve some of the world's biggest problems," a co-author of the report tells the Guardian.
"They're creating jobs, they're reducing poverty, they're helping to solve some of the world's biggest problems."
But there's a lot of work to be done, and the report warns that some of the most promising social enterprises are located in developing countries, which have some of the world's worst poverty rates.
For example, in Nigeria, one of the
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Social Entrepreneurship
Spotlight
When it Comes to Social Enterprises, Failure is the Best Platform for Innovation
In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.