Social Enterprise
Social Enterprise Explained
A social enterprise is a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community rather than being driven by the need to maximise profit for shareholders and owners.
Social enterprises tackle a wide range of social and environmental issues and operate in all parts of the economy. By using business solutions to achieve public good, the Goverment believes that social enterprises have a distinct and valuable role to play in helping create a strong sustainable and socially inclusive economy.
Business Extra is an enterprise agnecy and a social enterprise itself. Its role is to help other social enterprises to be become more succesful.
Social enterprises are not vouluntary organisations or charities , but may be the trading arms of these type of organisations. Other legal frameworks for social enterprises include co-operatives, credit unions, worker controlled businesses and companies limited by guaranteee.
A social enterprise would be expected to earn some 60% of its income from commercial activities. Social enterprises that have not reached that level are often referred to as emerging social eneterprises.
If you want to start a social enterprise then contact Business Extra as your first port of call.