What is a Social Enterprise?

Social Enterprise is one of the top buzz words in the UK and yet, in most of Canada and the US the initial response to the phrases ‘social enterprise’ or ‘social entrepreneurship’ is, “Huh?”

The concept, the revolution and the beauty of social enterprise simply does not exist in the way we know it over here.

Social enterprise can be defined as an organisation with a social, ethical or environmental purpose. In terms of finances, the surplus revenue is reinvested in the COMMUNITY to benefit others, NOT to make stakeholders rich. It’s quite simple, and it’s beautiful.

A social enterprise is the most value driven type of company that one could start, and although they are similar to a charity (in that they beneift the community first and foremost), they CAN still make a profit.

In the last 10 years, the United Kingdom has seen hundreds of social enteprises popping up around the country, so much so that they introuced the label CIC – Community Interest Company.

Yet, what is shocking is that there are millions of good ideas running through the minds of young people but very few actually take that idea and turn into reality. It doesn’t have to be a social, ethical or environmental idea to be a great idea (although social enteprise is a very exciting option) – it just needs to come from your  personal values. The most successful people in our business world today are driven by what is IMPORTANT to them, and similarly, their businesses are built on the same.

So how does one make their idea become a reality?

Currently, there is lots of options for young people but a great choice is to start working with a business coach. Through this type of partnership one can gain the clairty and confidence they will need to bring their idea to fruition.  

If you live in the borough of Hammersmith and Fulham and are between the ages of 18-25 – check out Striding Out’s Social Pioneer Summer Academy. 

Britain can become a leader in social enterprise and direct the rest of the world towards a socially aware business world. You can be apart of  this revolution.

Get a coach today, start now!

Article by Quinn Simpson

Youth & Business Coach