The number of social enterprises in Hong Kong has reached an all-time high and more can financially sustain themselves, breaking the stereotype that these organisations do not function effectively, government and industry leaders have said.
Speaking to representatives of social enterprises and businesses in Hong Kong yesterday, Laurie Lo Chi-hong, deputy secretary of the Home Affairs Bureau, said data from the Hong Kong Council of Social Service showed the number of social enterprises in the city had doubled, from 260 to 520, in the past seven years.
“Their content has also diversified. The early social enterprises were mostly set up to create job opportunities for vulnerable groups,” Lo said.
“This number is extremely high. In Korea, the number is only 14 per cent,” Kee said. “Also, the lifespan of Hong Kong social enterprises is about 9.3 years. A normal small or medium-sized enterprise lasts just 3.7 years. So the success rate is actually high. Many people have the wrong perception they are doing badly.”
The society cited the example of Hong Kong Broadband Network, which outsources some of its call centre operations to a start-up that hires physically disabled people. The social enterprise managed to break even in six months with no loss of the quality of customer service.