WHAT IS A SOCIAL ENTERPRISE?
Social enterprise can be for nonprofits and for-profits alike.
WHY IDENTIFY AS A SOCIAL ENTERPRISE?
For traditional nonprofits, social enterprise can be a powerful complement to other activities when it advances the social mission and the financial independence of the organization.
For new organizations or start-ups, — both nonprofits and for-profits — social enterprise gives entrepreneurs the ability to bake social impact and financial stability into it’s DNA from the outset.
For traditional businesses, social enterprise initiatives enable a company to integrate social impact into business operations and integrate social goals into alongside financial returns.
SO WHAT DOES THE SOCIAL IN SOCIAL ENTERPRISE MEAN?
What makes a social enterprise different from a traditional business or enterprise is it’s approach to seeking profits. The social aspect of the organization can be categorized in three ways–by selling, sourcing, and/or sharing. Many organizations can be one or more of these components.
Organizations that make their impact through what they sell or to whom they sell it.
Organizations that develop their programs by how they make their products of services, typically using environmentally sustainable methods and employing the underserved.
Organizations that exist to share some or all of their profits with charitable organizations or causes.