If your business idea has a more social or environmental purpose such as addressing social problems, meeting local community needs or bringing about social change, then it may be that setting up a Social Enterprise business would be preferable than a standard business format.
Social Enterprises often deliver products or services just as standard businesses do, but the difference is that their social purpose at the heart of what they do rather than the purpose of profit. In fact any surplus profits are reinvested into the business (hence the term not-for-profit).
Social Enterprises can work across a wide range of sectors and industries and include a variety of types including co-operatives, credit unions, community development trusts and social firms. Social Enterprises don't have to be small, examples of national brands include The Big Issue and Jamie Oliver's 15 restaurant.
Social Enterprise Advisors
Many of the skills needed to have a successful Social Enterpise are common with other types of businesses, but there are specific challenges facing Social Enterprises who need to be financially sustainable, whilst still delivering on their social objectives.
At e-factor our Social Enterprise Business Advisors, have live expertise in running Social Enterprises and can provide you with invaluable advice and support in setting up your Social Enterprise and making it a success.
To arrange a meeting with a Social Enterprise Business Advisor, call 0800 952 0181 or complete our contact form
