What is a Social Enterprise?
A social enterprise is a business driven by a social or environmental purpose.
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.
Many social enterprises adhere to the Community Economic Development (CED) Principles:
- Local employment
- 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
- Human dignity
- Interdepartmental and intergovernmental collaboration
For More Info:
Ivy Lopez Sarmiento,
Small Business Development
250-240 Graham Avenue,
Winnipeg, MB R3C 0J7
Toll Free: 855-836-7250
Email: firstname.lastname@example.org or