Assessing the Social Return on Investment for the Project to Enhance Cultural Product Entrepreneurs in the Traditional Community Economic Zone along the Mun River, Ubon Ratchathani Province

Abstract

This research aimed to evaluate the Social Return on Investment (SROI) of the cultural entrepreneur enhancement project in the traditional community economic zone along the Mun River, Ubon Ratchathani Province. The study employed observational methods and in-depth interviews with relevant stakeholders, particularly cultural entrepreneurs. Determining the size of the target group utilized purposive sampling methodology and convenience sampling methods. Participants comprised 10 cultural entrepreneurs who expressed interest and voluntarily provided information and participated in the project. Research instruments included questionnaires and semi-structured interviews, as well as focus group discussions. Data analysis employed social outcome evaluation using Ex-Ante & Ongoing Evaluation methodology. The research findings revealed that the calculation of social return yielded a net Social Return on Investment (SROI) ratio of 2.38, indicating that every 1 baht invested in research implementation generated returns for entrepreneurs in both social value and economic value equivalent to 2.38 baht. Therefore, this research utilized the budget cost-effectively, creating benefits for society. Policy recommendations suggest that the SROI evaluation approach presented in this article should be adopted and applied by other organizations conducting activities or projects to systematically measure and evaluate investment cost-effectiveness in projects. These recommendations would enable organizations to allocate resources efficiently and maximize social benefits. Cultural entrepreneurs and related agencies can utilize the cultural capital enhancement model from this research for further development, particularly in promoting job creation and new career opportunities, developing cultural tourism in the area, and distributing benefits to surrounding communities, as well as developing local personnel to possess sustainable cultural entrepreneurship capabilities.