What is Social Enterprise?
A widely used definition of social enterprise comes from the Department of Trade and Industry. It describes social enterprise as:
"… a business with primarily social objectives. Its surpluses are reinvested for that purpose in the business or in the community (rather than being driven by the need to deliver profit to shareholders and owners)”.
However, a lively debate continues about the types and models of social enterprise and many people prefer to define social enterprise as an activity rather than an organisational form. So, if you are “trading with a social purpose” - charging for room hire, providing training or office services – think social enterprise.
Why social enterprise?
There are many good reasons why you might consider becoming a social enterprise:
- Independence – you can choose how to spend your earned income
- You can keep your mission focus and not be pulled off course by meeting grant funding criteria
- You can improve quality and choice for your service users or local community.