Social what?

The Social Enterprise Coalition's own definition of a social enterprise is an organisation that trades in the market for a social purpose.

Social enterprises are all around us; a recent report tells us that there are more than 55,000 in the UK, with a combined turnover of £27bn per year, busy delivering lasting social, economic and environmental change.

The more well-known ones include Cafedirect, The Co-operative Group, the Eden Project and Jamie Oliver's Fifteen; here in MK - we have long established social enterprises like Milton Keynes Community Foundation and the Parks Trust, together with newer community-driven projects such as Wolverton's Farmer's Market and SUST.

Social enterprises aim to sustain their business and make profits - it's what they do with these profits that's different. The government, in having recognised and promoted social enterprise culture for the past six years, says this:

"A Social Enterprise is a business with primarily social objectives whose surpluses are principally re-invested for that purpose in the business or the community, rather than being driven by the need to maximise profit for shareholders and owners".

Essentially - you can run your social enterprise and draw a wage while providing a public service and ploughing excess income back into the business. The social enterprise model principle can apply to individuals or organisations.

If you have a business idea but aren't sure whether it qualifies as a social enterprise, please give us a call or email for some friendly advice.