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The UK government and UK trade confederations such as the Social Enterprise Coalition have a working definition of social enterprise. They are
"businesses 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."
There are many debates around the true definition, but in a nutshell a social enterprise is an organisation that:
- trades goods and services for a social purpose
- makes a profit (yes it's ok to make profits!)
- uses the majority of their profits for social and environmental goals.
This could mean investing their profit to benefit a community in need, running the business in a way that minimises damage to the planet and making sure that the business creates new opportunities for people through jobs or services. These can be summarised as the Three Ps:
People, Planet and Profit
Examples of these that you may recognise are The Big Issue, Jamie Oliver's Fifteen restaurant, The Eden Project, Divine Chocolate, and Cafe Direct. According to recent research, there are at least 60,000 social enterprises like these across the UK, and this number is growing rapidly.
Social enterprises come in many shapes and sizes, from community-owned village shops to large development trusts, and in many legal forms, including community interest companies, industrial and provident societies and companies limited by guarantee, among others. Whatever form they take, social enterprises prove that social and environmental responsibility can be combined with financial success.
Social Enterprise is the fastest growing business model in Europe, it:
- Tackles social and environmental problems
- Raises the bar for corporate responsibility
- Improves public services and shape public service delivery
- Offers a high level of engagement with users
- Pioneers new approaches to existing problems
- Encourages under-represented groups (e.g. women, youth and offenders)
For further information on social enterprise - simply click on the links to the left or download our leaflet in the 'DOWNLOADS' box above.
Can't find what you are looking for? Email us at - info@se2partnership.co.uk
