Though more entrepreneurs are pursuing social or environmental goals, they still have to find a successful product or service to sell, the New York Times reports.
As people’s wealth increases, they think more about quality and less about quantity. Companies like Toms, Warby Parker and Uncommon Goods have pushed this concept into the mainstream by creating successful business models built around helping others.
This trend has led to the rise of B Corporations, a certification for companies that meet high standards of social responsibility. The program started in 2007, and now more than 2,500 companies have been certified in more than 50 countries.
However, other companies struggle mightily before closing, as it’s difficult for most entrepreneurs to find a balance between promoting a product and helping those in need.
