The definition we use to define a Social Enterprise is;
Social enterprises are profit-making businesses set up to tackle social or environmental needs
The legal format of the business is generally not important and can include
- Limited liability company (LTD)
- Community interest company (CIC)
- Industrial and provident society such as co-operative societies and community benefit societies (BenComs)
- Limited liability partnership (LLP)
- Charitable incorporated organisation (CIO)
This simple definition from Wikipedia accurately reflects our own.
A social entrepreneur is someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change. Whereas business entrepreneurs typically measure performance in profit and return, social entrepreneurs assess their success in terms of the impact they have on society.
Social entrepreneurs are innovative risk takers who use ideas, resources, and opportunities to tackle problems and produce social benefit.
The scope of social entrepreneurship encompasses every category and sub category from war orphans to animal trafficking. Although they can work in both the pro-profit and non-profit realms, their success is measured by social profit; monetary criteria are used where applicable to gauge the sustainability of their programmes.
Why Social Enterprise?
Citizen-based organisms are the most efficient social entities on earth, outstripping corporations and institutions many-fold in how effectively they deploy resources. Rather that being the lowest common denominator of social organisation, they should be regarded as the fundamental unit of social change. The movement (social enterprise) transforms social intention into agile, responsive organisations. They are more effective precisely because they make the most efficient use out of limited resources.
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