Salford University launched its Centre for Social Business on the occasion of the Nobel Prize Professor Muhammad Yunus’ recent visit.
The hub, located at Salford Business School, aims to promote ethical business ideas and is directed to both students and entrepreneurs. Corporate social responsibility, social justice, transformational marketing and microfinance are the main courses held at the centre. However, these are also considered to be the essential keys in order to run a business that does not only enrich its investors, but that also provides a relevant benefit to the community around it.
Salford University Vice-Chancellor Prof Martin Hall said the centre is an outstanding opportunity to support people who want to contribute to the community, but often lack of the right skill set to find the way to do it.
The first excellent praise for the initiative came from Prof Yunus himself. Speaking to a packed lecture theatre of more than 500 people, the Nobel Prize winner said: “the first responsibility of society is to help people in distress”, and rebalancing the economic system is possible if we encourage the foundation of non-dividend businesses which directly address social problems.
Prof Yunus is known for founding Graemeen Bank, which has lent over £16bn to small entrepreneurs in poor countries over the last thirty years.