Page 126 - Social Enterprise A New Business Paradigm for Thailand

Singapore is a small and urbanized country, with a relatively modest number of social enterprises.
Most were established after 2012 and typically engage in promoting employment for vulnerable

groups and providing goods and services that meet social needs. Nevertheless, Singapore has
developed an ecosystem that supports social enterprises. In 2015, Dr. Tony Tan Keng Yam, the
former President of Singapore, established a non-profit organization called the Singapore Centre
for Social Enterprise (raiSE). This organization is a collaboration between the Ministry of Social
and Family Development, the National Council of Social Service, the Social Enterprise Association,
and the Tote Board. Its aim is to support the development of social enterprises.

raiSE welcomes members from various backgrounds, including social entrepreneurs, social
enterprises, and individuals interested in creating social impact. Although companies operating

as social enterprises in Singapore do not receive specific tax incentives, the government provides
support through raiSE in other meaningful ways. Currently, raiSE operates several programs to
strengthen the social enterprise sector, including (1) VentureForGood (VFG) grant, which provides
funding of up to SGD 300,000 per project. This grant supports newly established social enterprises,
startups, or existing social enterprises seeking to expand their operations. (2) SE Fellowship
Programme, designed to enhance the capability and business sustainability of social enterprises.
The program matches social enterprises with professionals (Fellows) who are interested in
contributing to social impact. Over a four-month period, Fellows provide support through
structured mentoring sessions to help enterprises achieve predefined milestones. (3) raiSE

Masterclasses, which offer practical, hands-on workshops for both social enterprises and the
general public. These classes cover various topics such as service innovation, digital marketing,
98
business expansion planning, and employing persons with disabilities.
Vietnam was the first country in ASEAN to enact legislation specifically on social enterprises, doing
so in 2014. This led to the emergence of a growing number of social enterprises with diverse roles,
particularly in job creation, support for marginalized groups, and the promotion of leadership
opportunities for women and youth. Nearly half of all social enterprise leaders in Vietnam are
women, a proportion that surpasses the percentage of female leadership in small and medium

enterprises (SMEs), which stands at approximately 37%. The government has implemented
various policies and programs to support both SMEs and social enterprises. However, the actual
99
implementation of these policies and programs remains limited in practice.
When compared to other countries in the ASEAN region, Thailand stands out as a country that
has introduced more comprehensive measures to promote social enterprises. Table 3.1 presents

98 raiSE Singapore, http://www.raise.sg/ (retrieved on February 5, 2025).
99 UNESCAP, Social Enterprise in Vietnam, British Council and United Nations ESCAP, Source:
https://www.unescap.org/resources/
social-enterprise-vietnam, 26 March 2019.
93