Social enterprises are businesses that trade for social and environmental purposes, reinvesting their profits into their social mission
Using social enterprises as part your supply chain can deliver a range of benefits for your business. It can help you meet your corporate social responsibility objectives, tackling unemployment or supporting people with mental health issues.
The differences are in their actions and their motives. Social entrepreneurs concentrate more on transforming the approaches of modern society for the good of the community and the environment, whilst business entrepreneurs concentrate a lot more on the income and wealth-building aspect of things.
A social enterprise is a commercial organization that has specific social objectives that serve its primary purpose. Social enterprises seek to maximize profits while maximizing benefits to society and the environment. Their profits are principally used to fund social programs.
You need a business like attitude mixed with some good business sense. Your social enterprise needs to have a visionary driver, this is key to the success or failure of your enterprise as your passion for doing what you do will either encourage others or scare them off.
The visionary driver needs to encourage others their journey to make things happen. The driver also needs to engage with their inner salesperson.
1 You need to generate sales not rely on grants and funding
2 Prepare a robust contingency plan within your business plan
3 Revisit your business plan Quarterly to review your goals and tick off achievements and set new goals
4 Remember you chose to be a social enterprise as away of doing business not as a legal structure.