In a study conducted by the Asia Pacific Foundation of Canada, "Financing For Social Entrepreneurship in Peru," finds that social enterprises in Peru have to a large extent relied on their founders, friends, and family to finance their businesses.
The study delves into the obstacles and opportunities in financing social entrepreneurship in Peru using a combination of structured interviews, case studies, and secondary research.
According to the study, the challenge for social enterprises in Peru is that the social entrepreneurship ecosystem is nascent with a lack of flexible, patient, catalytic, and risk-tolerant funding sources, particularly for early-stage enterprises outside of the financial services and agriculture sectors.
The opportunity is for the government and the impact investment community to collaborate, to implement innovative approaches, to impact investing, and to catalyze the emerging social entrepreneurship ecosystem in Peru.
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Although celebrity names and support associated with social enterprises can be an effective tool to promote a business and tackle a social mission, they do come with their risks.