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.
Read the latest success stories from those who MKCE have supported.
Be inspired by what others have achieved.
Search the directory of Milton Keynes Social Enterprise Network members to find the social enterprise you need to help grow and expand your organisation.
