Not business as usual: The emergence of social enterprises in Bangladesh

Social enterprises are redefining the nature and purpose of business by merging profitability with social and environmental responsibility. In contrast to traditional models that prioritize shareholder value, social enterprises pursue a “triple bottom line” that balances people, planet, and profit. This paper examines how these hybrid organizations are reshaping capitalism by embedding ethics, inclusivity, and sustainability into core business strategy. Using Bangladesh as a central case study, it explores how a nation once marked by poverty and vulnerability has become a global hub for social innovation. From the pioneering models of BRAC and Grameen Bank to emerging ventures such as iFarmer, ShopUp, and Friendship Colours of the Chars, Bangladeshi enterprises demonstrate that economic growth and social justice can advance together.

The paper also situates this transformation within a global context, drawing connections to the rise of B Corporations, the evolution of ethical consumerism, and the broader institutional shift toward sustainable enterprise. Yet, challenges persist—particularly the absence of clear legal frameworks, the cost of ethical commitments, and the threat of “impact-washing.” Despite these constraints, social enterprises continue to redefine the metrics of success, emphasizing shared value, community empowerment, and environmental stewardship. Ultimately, the study argues that Bangladesh’s social enterprise model provides a compelling roadmap for inclusive, purpose-driven development across the Global South and beyond.