Balancing People, Profit, and Planet: Sustainable Entrepreneurship Practices for Social, Economic, and Environmental Impact in Developing Economies" A Case Study of Iringa, Tanzania
Year: 2024
Type: article
Study design: Observational Study
Abstract: This study explores the integration of sustainability in entrepreneurial practices within the Iringa region of Tanzania. Using a sample size of 140 respondents, the research examines how local entrepreneurs navigate the challenges of balancing profitability with social and environmental responsibility. The study employs a mixed-method approach, combining quantitative surveys and qualitative interviews to gather insights on how regional businesses align with sustainable development goals. Key findings indicate that while economic growth remains a priority for most entrepreneurs, there is a growing awareness of the importance of environmental conservation and social welfare in business operations. However, several constraints hinder broader adoption, including limited access to capital, inadequate policy support, and a lack of awareness about sustainable practices. The study concludes that achieving a balance between economic, social, and environmental goals requires concerted efforts from entrepreneurs, policymakers, and the broader community. It recommends that local governments and financial institutions actively promote sustainable business practices through capacity building, incentives, and stronger regulatory frameworks. The findings contribute to the ongoing discourse on sustainable entrepreneurship in developing economies and provide practical insights for fostering inclusive and environmentally-conscious business growth in rural regions like Iringa.
Author: Yohana Tweve
Institution: Ruaha Catholic University
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4407001119