As with any business, a social enterprise competes to deliver goods and services to customers in the marketplace. However, social enterprises differ from traditional businesses in that profits are re-invested to achieve, sustain and further its social or environmental purpose while still ensuring financial viability.
A Social enterprise aims to be highly entrepreneurial, collaborative, sustainable and innovative in running its operation. Some common objectives of social enterprises are:
To provide business ownership opportunities for individuals and groups of individuals who face barriers to business ownership.
To provide training and meaningful employment opportunities for community members, often for those new to the workforce or facing barriers to employment.
To enhance wages and working conditions in a specific industry, particularly those characterized by low wages, lack of benefits and poor working conditions.
To offer products and services from local resources in environmentally friendly and healthy ways, to meet local needs or fill gaps in the local economy.
To strengthen relationships between local producers and local buyers.
To employ participatory and democratic decision-making and business management.
To become more self-sustaining by generating income and profits through the sales of products and services.
To reduce dependency on charitable donations, grants and government funding.
To reduce the time spent on fundraising efforts and reporting to funders.
To enhance self-reliance, which can result in more freedom and control to fulfill an overall socio-economic-environment community mission.
Local ownership and decision-making
Local economic linkages
Re-investment of profits in communities
Local knowledge and skill development
Positive environmental impact
Health and well-being
Neighborhood stability and community cohesion
Interdepartmental and intergovernmental collaboration
For More Info: Ivy Lopez Sarmiento,Business Consultant Small Business Development Entrepreneurship Manitoba 250-240 Graham Avenue, Winnipeg, MB R3C 0J7 Phone: 204-945-2103, Toll Free: 855-836-7250 Fax: 204-983-3852 Email: firstname.lastname@example.org or Email: EMBinfo@gov.mb.ca