Social business is formed to address and resolve social problems. Such businesses need to be financially self-sustainable, and non-loss no dividend company but different from a nonprofit organization. Though it gained huge popularity immediately after being initiated, the social business model has not been able to be established as a parallel economic entity yet. Thus, this study attempt to identify factors creating obstacles in the path of its success and to propose a CSR approach to overcome the constraints. CSR model for developing social business might be a successful attempt because profit-maximizing business enterprises have both financial capabilities as well as managerial skills in running a social business. This study is based on the opinions of different stakeholders of the society including highly qualified academicians, prominent business icons, experienced psychologists, relevant regulators, and potential social business entrepreneurs. A structured questionnaire is used to explore the thoughts of respondents. The questionnaire for the interview was developed based on the opinions of the experts from different fields who attended a 5 hours focus group discussion. The study reveals that initiating new laws for CSR activities, providing cash incentive, providing tax exemption by the government and motivating heads of the big corporate houses in establishing social business unit as a part of their CSR activities can help in establishing social business model as the parallel economic entity. A CSR based social business model is proposed in this study incorporating the findings of the study.
