Innovative Models of Green Entrepreneurship: Social Impact on Sustainable Development of Local Economies

Abstract

Introduction. Green entrepreneurship has become a powerful new force, driving sustainability and promoting economic development within local economies. This research explains how small-scale green entrepreneurship activity has its desired role in environmentally affected matters and any economic grow-ups from the low ends. Aims and tasks. The study aims to analyze green entrepreneurship models and highlight successful initiatives in various regions, including those related to solar energy, green agriculture and green product development startups, to understand the impact related to social, economic and environmental factors. Results. The findings in the research indicate that creativity is an important business strategy, partnerships in the strategic plan, application of technology and capturing communities in driving green entrepreneurship. As such, the study discovered that business models were continuously associated with the creation of jobs, and in average 15,000 new jobs per region were created. North America, Europe, Asia, Africa, and Latin America contributed significantly. Thus, as well as through strategic partnerships and technology adoption, it has contributed to a reduction in CO2 emissions by an average of 60,000 tons a year across all regions. The success of green entrepreneurship models is analyzed using empirical case studies and real-life examples to bring out core issues requiring action and offer recommendations to policy makers, investors, and entrepreneurs on how to implement green business models further. Conclusions. The research underlines the dynamic capability of green startups to solve environmental issues along with its shifting economy and community interface. An essential role of green entrepreneurs is the ability to use creative mindsets together with progressive tie-ups. This therefore engenders positive change and leads the way to a more equal and sustainable world. Going further, all critical characters in the area must still be inspired and enlightened to launch more green entrepreneurship initiatives to provide more significant influence on transitioning to a more sustainable society.