‣ Defining Social Enterprise
According to Social Enterprise UK:
1. Social Enterprises are“ businesses that trade for a social or environmental purpose”. That is,“ businesses with primarily social or environmental purposes whose profits are principally reinvested for that purpose into the business or into the community, rather than being driven by the need to maximise profit for shareholders and owners”.
2.“ Social enterprises come in all sizes, from small community cafes to really big international organisations, but they ‟ re usually started by a person or group with a particular passion and sense of purpose. They can emerge as businesses from groups that didn ‟ t start out to create a business at all”.
A social enterprise does:
1. Make its money from selling goods or services or both.
2. Cover its own costs in the long term, but like most businesses, it may need help to get started.
3. Put at least 50 % of any profits towards addressing its social or environmental purpose. 4. Pay fair salaries to its staff 5. Have a clear social or environmental purpose or mission.
A social enterprise does NOT:
1. Exist to make profits for shareholders. 2. Exist to make its owners wealthy. 3. Rely on volunteering, grants or donations to sustain itself in the long term.
‣ Examples of social enterprises include:
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