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Social Enterprise - a different kind of business |
What
are Social Enterprises?
These are businesses that aim not only to make money, but also to have
a positive effect on the communities they serve, the people with whom
they work and their own employees. Financial success is still important,
For them to achieve their aims they need to be secure financially and
to grow - it's just that income generated by the business is used to achieve
its social goals, rather that being an end in itself.
Social enterprises exist and compete in all sectors of the economy, and they are a growing force. They take many different forms, but all share the common purpose of social and economic success. Different types of social enterprises might be:
- Community Businesses (run by and for particular community) - for example a community business night provide a much-needed facility such as a shop, social centre or nursery.
- Co-operatives (businesses that are owned and run by a group of people for the benefit on their members) - co-ops operate across all commercial activity sectors and range from several thousand members to fewer that ten.
- Development Trusts (community based and owned regeneration enterprises) - these organisations develop physical assets such as buildings or open spaces and run them for community benefit.
- Social Firms (businesses that have a significant number of employees with a disability) - these can provide a good alternative option for people who would find it difficult to enter the general employment market.
Whilst many social enterprises have a single stated social purpose, they also tend to bring wider benefits such as creating local good quality employment, keeping money in the local economy, and providing an alternative business model.
What they have in common are the values which underpin them. They exist not just to make a profit, but to make a difference - in the way that they are managed, in the way they work with their community, in the way they do business.
Help in setting up a social enterprise
If you are interested in exploring the idea of developing a social enterprise, Co-active Ltd provides specialist business support across Devon and Cornwall.
Developing a successful social enterprise that makes money, involves all its stakeholders and offers real opportunities, but needs a broad range of support from start up to successful trading.
Co-active will support you in creating the legal structure of your social enterprise, through the process of launching the business, and provide continuing help and advice once you are set up and trading.
If you've got a business idea and want to explore social enterprise options, Co-active can give you the advice and support you'll need to get started, keep on growing to succeed.
To arrange an informal chat with a business advisor call 01752 500888 or visit www.co-active.org.uk for more information