Two examples, although focusing on 'innovation' rather than 'entrepreneurship' per se:

1. https://doi.org/10.1007/978-94-017-8959-2_2

2. https://doi.org/10.1016/j.imic.2015.04.001

Wilfred Isak April

Entrepreneurship and sustainable development, although seemingly originating from different spheres – economics and ecology – are increasingly functioning today as interdependent and complementary concepts. Traditionally, entrepreneurship has been associated with innovation, identifying market opportunities, and generating profit, while sustainable development implies a balanced relationship between economic growth, environmental preservation, and social responsibility. However, modern global challenges – such as climate change, depletion of natural resources, and social inequalities – demand a new kind of entrepreneur: one who does not seek only economic gain, but also aims to create a positive impact on the community and the planet.

Entrepreneurship can be a powerful driver of sustainable development. Through sustainable business models, social innovations, the development of green technologies, and circular economy practices, entrepreneurs have the ability to transform markets and consumer behavior. At the same time, sustainable development opens up new markets and opportunities for entrepreneurs – by supporting environmentally friendly products, ethical business practices, and the development of local communities. For example, sectors like renewable energy, sustainable agriculture, ecotourism, and green construction are now fertile ground for innovative entrepreneurial ideas that contribute to both economic progress and environmental protection.

It is important to emphasize that sustainable entrepreneurship requires broader awareness and responsibility. It is an approach that places long-term goals and intergenerational justice at the core of business operations, rather than focusing solely on short-term profit. Such entrepreneurs increasingly rely on ESG (Environmental, Social, Governance) principles, measure their impact through the UN’s Sustainable Development Goals (SDGs), and strive to be transparent and inclusive in decision-making processes.

In conclusion, the relationship between entrepreneurship and sustainable development is not only possible, but essential in today’s world. Their integration is key to building a more resilient, just, and environmentally friendly economy. Entrepreneurship rooted in sustainability can become one of the most powerful tools for addressing the pressing issues of the 21st century.

It depends on the location of the business. In SEE, local companies consider sustainability to be just another regulation that costs them more, as it reduces their profits in the short term. The exception is Western businesses there. They are usually the ones who appreciate the benefits, such as reducing their production costs, which preserves their profits.