How social business can power a sustainable future

As Bangladesh grapples with rising unemployment, persistent poverty, and escalating climate risks, Nobel Laureate Professor Muhammad Yunus's 3ZERO vision-Zero Poverty, Zero Unemployment, and Zero Net Carbon Emissions-shines as a beacon of hope, offering a bold and transformative roadmap for the nation's future.

The numbers speak volumes. With 65 per cent of Bangladesh's population under 35 and a labour force exceeding 73 million, the country sits on a demographic goldmine. Yet, unemployment has risen to 4.63 per cent in FY2024-25, with 2.7 million people currently out of work. While extreme poverty has declined-from 12.9 per cent in 2016 to 5.6 per cent in 2022-income inequality continues to widen, threatening long-term social stability and growth.

THE SOCIAL BUSINESS REVOLUTION: At the core of the 3ZERO vision lies the social business model. Unlike traditional businesses, social businesses are enterprises that solve social problems through entrepreneurial means, without the pressure to maximise profits. These businesses reinvest their profits in operations and mission expansion, creating self-sustaining engines for growth and development.

Grameen Bank, founded by Professor Yunus, pioneered this model and today reaches over 9 million borrowers, 97 per cent of whom are women. More significantly, 68 per cent of these borrowers have crossed the poverty line, proving that inclusive financial systems can drive systemic transformation.

"There are an estimated 10 million social enterprises worldwide, encompassing over 3 per cent of all businesses," according to the World Economic Forum's 2024 report. In Bangladesh, social business is no longer a niche idea; it's a national movement. Over 5,500 3ZERO Clubs across 63 countries reflect the global appetite for this approach, with Bangladesh at its epicentre.

ZERO POVERTY -- BEYOND MICROFINANCE: Social business in Bangladesh has moved beyond microcredit. Grameen Danone Foods combats child malnutrition by offering fortified yoghurt at affordable prices. The company sources milk from 500 local micro-farmers, while creating over 350 direct jobs. It serves the dual purpose of improving nutrition and empowering rural economies.

Another example is Grameen Veolia Water, which provides safe drinking water to rural populations that previously relied on groundwater contaminated with arsenic. These models demonstrate how social businesses, by addressing fundamental human needs, can create a sense of empathy and connection while also generating sustainable livelihoods.

Looking forward, integrated service platforms can be developed at the village level. These would combine digital financial tools, healthcare access, nutritious food, and educational support under cooperative or social enterprise models. With a people-centred approach, such models can help entire communities rise above poverty, sustainably and inclusively.

ZERO UNEMPLOYMENT -- FROM JOB SEEKERS TO JOB CREATORS: While many businesses reduce labour costs through automation, social businesses prioritise labour intensity to create inclusive employment opportunities. This strategy opens doors for groups historically marginalised in the job market-the rural poor, women, and persons with disabilities.

Grameen Danone's value chain is structured around social inclusion. From local farmers and factory workers to the "Grameen Ladies" who distribute yoghurt in rural areas, every link in the chain generates income and empowerment. These women, often first-time earners, become change agents in their families and communities.

Looking ahead, Bangladesh has an opportunity to nurture youth-centred entrepreneurship ecosystems. "Skills to enterprise" pathways-where vocational training directly leads to startup opportunities-can mobilise young people as innovators and job creators. Support systems such as access to micro-equity, mentorship, incubators, and digital platforms will be key to unlocking this potential.

Green jobs are also a major frontier. As global economies transition toward sustainability, demand is rising for roles in renewable energy, waste management, sustainable farming, and circular manufacturing. Bangladesh can capitalise on this opportunity by aligning its youth training programs with green enterprise models.

ZERO NET CARBON -- CLIMATE ACTION THROUGH BUSINESS: Bangladesh is one of the countries those are most vulnerable to climate change, ranking 9th globally in terms of climate disaster risk. Rising sea levels and extreme weather events threaten to displace tens of millions of people, with projections suggesting that 17 per cent of the country could be submerged by 2050. Urban centres are already feeling the pressure from an influx of climate migrants.

Social business offers a platform for climate adaptation and mitigation. Grameen Shakti has already installed millions of solar home systems in off-grid areas. This initiative not only reduces reliance on fossil fuels but has also generated thousands of green-collar jobs, including technicians, sales agents, and maintenance workers.

Future models could include community-owned solar mini-grids, biogas plants, electric vehicle services, and climate-resilient farming cooperatives. Social business could also play a crucial role in developing Bangladesh's blue economy through sustainable fishing practices, mangrove restoration initiatives, and coastal tourism efforts that protect marine biodiversity while generating income.

THE IMPLEMENTATION BLUEPRINT: Achieving the 3ZERO goals will require innovative financing. Social impact bonds, blended finance structures, green bonds, and blockchain-powered impact tracking can help attract private capital to public goods. These instruments ensure that investment returns are tied to measurable social and environmental outcomes.

Technology is another enabler. Artificial intelligence can be harnessed to identify social needs and optimise resource allocation. Internet of Things (IoT) devices can provide real-time monitoring for agriculture, water use, and energy systems. Digital marketplace platforms can connect social entrepreneurs to consumers and donors globally.

Equally important is an enabling policy environment. Legal recognition of social enterprises, tax breaks, access to government tenders, and simplified regulatory processes can accelerate the growth of the sector. Public-private partnerships will be vital for infrastructure development, while regulatory sandboxes can support innovation without stifling it through excessive red tape.

Bangladesh must also invest in education. Currently, education receives just 11.88 per cent of the national budget and only 1.69 per cent of GDP-far below the amount needed to nurture an entrepreneurial and innovative generation. Increasing investment in education, especially in entrepreneurship, sustainability, and digital literacy, is critical to making the 3ZERO vision a reality.

A GLOBAL MODEL IN THE MAKING: The momentum behind social business in Bangladesh is increasingly international. The 9th Social Business Youth Summit 2025 brought together over 350 entrepreneurs, changemakers, and policymakers from across the globe to design solutions for shared global challenges. Their collaboration demonstrated that Bangladesh is not only a case study but a leader in the global 3ZERO movement.

Unlike conventional businesses that guard their secrets, social enterprises are inherently collaborative in nature. Their purpose-driven nature fosters ecosystems where knowledge is shared, partnerships are built, and innovations are scaled across borders. This spirit of openness and collective action is what makes social business not just a model, but a movement.

END NOTE: As 2025 unfolds, Bangladesh stands at a crossroads. One path leads toward ecological destruction and deepening inequality. The other envisions a society where economic activity serves human flourishing and environmental sustainability.

The Grameen legacy has laid the groundwork for future success. Now, it's time to scale these models across sectors, regions, and demographics. By aligning entrepreneurial innovation with social goals, Bangladesh can transform its demographic advantage into a development miracle.

The question isn't whether the 3ZERO vision is achievable-it's whether we have the collective will to make it happen. The foundation has been laid; the next chapter is ours to write. As the world watches, Bangladesh has the opportunity to show that sustainable development isn't just an aspiration-it's a choice.

Taskin Shakib is Lecturer & Executive Assistant to the Vice Chancellor at North South University. Humaira Haque is Senior Lecturer, Department of Accounting & Finance, North South University.