A Financial Guide for Social Entrepreneurs

This book provides what it promises to the reader, i.e. A financial guide for
social entrepreneurs. It departs from the challenges that social entrepreneurs
face to fund their ventures. We discuss three main challenges in this context:

1\. Access to funding;
2\. Complexity of business models;
3\. Predominant focus on social impact.

This book offers an overview of the different funding possibilities while
presenting the main funding actors in Belgium as an illustration. Yet, we
think that more is needed to survive the financial wilderness of social
entrepreneurship. Therefore, we advise attention to a solid business model,
supportive ecosystem, impact measurement and effective communication. The
illustrative case studies and the presentation of ecosystem actors that can
provide support to social entrepreneurs make this book a quite practical
guide. All cases and ecosystem actors presented here come from the Belgian
context, which is what we know best. We are confident that this Belgian view
can inspire the international community as well. This book could be useful to
social entrepreneurs, impact investors, universities, vocational training
centers, corporates supporting social entrepreneurs, social impact incubators
and accelerators, policymakers or everyone who wants to help a social
enterprise in their journey. And please enjoy reading, our societies need more
social entrepreneurship!

ABOUT THE AUTORS

Nikolay Detchev. Associate Professor of Entrepreneurship and Corporate Social
Responsibility at VUB, Belgium. He holds the Solvay Business School Chair of
Social Entrepreneurship at VUB, with founding partners Close the Gap, BNP
Paribas Fortis and Euroclear. Nikolay is a member of the Investment Committee
of Trividend, an executive board member of the International Association for
Business and Society and the International New Business Model Conference
Series, and board of directors member at VUB related incubator ICAB nv.
Philippe Eiselein a PhD Candidate and Research Assistant at the Department of
Business at the Vrije Universiteit Brussel (VUB). He is preparing his doctoral
dissertation on the Business Models and Scalability of Social
Entrepreneurship. His ongoing research has been presented over several
international conferences. He has been actively supporting the VUB Chair of
Social Entrepreneurship since its inception, contributing to several
international projects and events, while coaching (social) entrepreneurs
coaches and acting as the Chair’s webmaster. Kris Vander Velpen holds an MBA
from Cornell University and a Business Engineer degree in Computer Data
Processing as well as a Bachelor in Thomistic Philosophy from the KU Leuven.
Kris is now an independent consultant, building and implementing tailor-made
top-line growth practices within major profit and non-profit organisations.
Furthermore, he is Professor “Entrepreneurship and Innovation” at Flanders
Business School and a Visiting Professor at KU Leuven.
Maxime Bouckaert studied business and applied economics at the Vrije
Universiteit Brussel (VUB). Shortly afterwards, he launched a company called
‘Koalect’. This company helps organizations create more impact through
fundraising, crowdfunding and crowdsourcing. He has a team of fourteen people
that currently support over 120 organizations to engage with their community
in a better way. Abel Diaz Gonzales a PhD Candidate and Research Assistant at
the Department of Business at the Vrije Universiteit Brussel (VUB). For his
doctoral dissertation, Abel has conducted field research in Bolivia, Ecuador,
Colombia, and Belgium. His research has been presented at different
international conferences (among which are the Academy of Management, IABS,
EMES and New Business Models). Abel has acted as a reviewer at various
conferences and for journals, and as co-organizer of numerous events.