Nobel Laureate Muhmmad Yunus said on Tuesday that social business was aimed at solving others’ problems by investing funds and getting back the capital without any profits.
The people involved in the traditional business are for only making profits but the social business is driven by social consciousness for solving others’ problems, said Yunus at the luncheon meeting organised by the American Chamber of Commerce in Bangladesh at the Ruposhi Bangla Hotel in the capital.
Social business has two features—non-dividend and problem solving business, he said.
‘To protect self is the very nature of the human kind but selflessness is also a nature of human being. We are missing the selflessness in the traditional business,’ Yunus said.
He said that he had never any intention in his mind to earn profits for himself by lending money to people, even he didn’t think of buying a share of Grameen Bank for him.
He said many countries including France, India, Japan and Haiti had collected funds for starting social business in those countries.
He said that he was going to arrange a global conference on social business in November this year, where many academics and politicians including UN secretary general Ban Ki Moon and Barzilan president Dilamah Rouseff would participate.
AmChem executive director A Gafur also addressed the meeting which was chaired by its president Aftab-ul Islam. Chargé d’Affaires of United States mission in Bangladesh John J Danilovich and AmChem vice-president Kahlid Hossain were also present.
-With New Age input