Introduction to Social Enterprise (1/4 Webinar Series)
Updated: November 19, 2024
Summary
The video discusses the shift towards sustainable business practices that focus on people, planet, and profit in the realm of social enterprises. It explores the core characteristics of social enterprises, their funding methods, legal structures, and impact models compared to traditional businesses and charities. The case study of The Bevy, a community benefit pub, exemplifies how social enterprises operate democratically, emphasizing the significance of membership, community shares, and clear financial oversight for success. It also touches on the nuances of operational decisions, funding challenges, community involvement, and the acquisition of property in the context of social enterprises.
TABLE OF CONTENTS
Introduction
Passion for Business for Good
Experience in the Field
Founding the Good Business Club
Introducing Sophie
Defining Social Enterprise
Comparing Social Enterprise
Identifying Social Enterprises
Funding for Social Enterprises
Practical Insights
Impact Models
Introduction to Bevy
Community Benefit Society
Challenges of Board Composition
Funding Challenges
Roles and Responsibilities
Difference Between Social Enterprise and B Corp
Acquiring Property for Social Enterprises
Introduction
Introductions of the speakers and their backgrounds in business for good and social enterprise.
Passion for Business for Good
Discussion on the outdated traditional way of doing business and the new way that focuses on people, planet, and sustainability.
Experience in the Field
Seven years of experience in theory, practice, founding businesses, and supporting entrepreneurs to demystify the world of good businesses.
Founding the Good Business Club
Co-founding an alternative business network focused on purpose, social impact, and collaboration for sustainable relationships.
Introducing Sophie
Introduction of Sophie, the marketing and communications manager at Social Enterprise Mark CIC, providing an agreed definition of social enterprise.
Defining Social Enterprise
Exploration of the core characteristics of social enterprises, including mission focus, profit reinvestment, and trade-funded activities.
Comparing Social Enterprise
Comparison of social enterprises with traditional businesses, charities, and business for good, positioning social enterprises in the middle.
Identifying Social Enterprises
Examples of known social enterprises and their impact models, including separated and integrated impact activities.
Funding for Social Enterprises
Discussion on funding methods for social enterprises, focusing on trade revenue and short-term funding models.
Practical Insights
Insights into legal structures for social enterprises, emphasizing the diversity of available structures and considerations for choosing the right one.
Impact Models
Exploration of impact models in social enterprises, distinguishing between separated and integrated models for funding and impact activities.
Introduction to Bevy
The video introduces the Bevy, a pub based in Moulsecoomb, a low-income area on the outskirts of Brighton. It discusses the history of the pub, its closure due to drug-related issues, and the grassroots campaign that led to its reopening.
Community Benefit Society
The Bevy operates as a community benefit society, allowing individual members to have a democratic right in major decision-making processes. The significance of membership, community shares, and volunteerism in becoming a member is highlighted.
Challenges of Board Composition
The evolving needs of the Bevy post-reopening, especially regarding board composition, operations, and finances, are discussed. The importance of a clear financial understanding and operational oversight on the board is emphasized.
Funding Challenges
Challenges related to funding, including the reopening of the pub during a busy period and the need for mature discussions with funders, are addressed. The balance between income generation and social value provision is explored.
Roles and Responsibilities
The importance of clear communication, defined roles, and responsibilities within the organization is highlighted. The impact of different operational decisions, such as appointing a pub manager, on the overall functioning of the Bevy is discussed.
Difference Between Social Enterprise and B Corp
A comparison between social enterprises and B Corps is made, focusing on their primary goals, makeup, and purposes. The distinction between shareholder-led companies and organizations addressing social or environmental issues is elaborated.
Acquiring Property for Social Enterprises
The acquisition of property for social enterprises, including options like leasing, community share offers, and specialized funders like Unlimited and Power to Change, is explained. The importance of community involvement and crowdfunding is emphasized.
FAQ
Q: What are the core characteristics of social enterprises?
A: The core characteristics of social enterprises include mission focus, profit reinvestment, and trade-funded activities.
Q: How are social enterprises positioned in comparison to traditional businesses, charities, and business for good?
A: Social enterprises are positioned in the middle between traditional businesses and charities, focusing on both social impact and profit generation.
Q: What are some examples of known social enterprises and their impact models?
A: Known social enterprises have various impact models, including separated and integrated impact activities. Examples may include businesses like The Bevy, a pub based in a low-income area, operating as a community benefit society.
Q: What funding methods are typically used by social enterprises?
A: Social enterprises often rely on trade revenue and short-term funding models to support their operations and initiatives.
Q: What is the significance of legal structures for social enterprises?
A: Legal structures for social enterprises are diverse, and choosing the right one is crucial for governance, accountability, and operational effectiveness.
Q: What is the main focus when comparing social enterprises to B Corps?
A: When comparing social enterprises to B Corps, the main focus is on their primary goals, makeup, and purposes, with B Corps emphasizing a higher standard of social and environmental performance.
Q: What options are available for social enterprises looking to acquire property?
A: Social enterprises can explore options like leasing, community share offers, and specialized funders like Unlimited and Power to Change to acquire property for their operations.
Get your own AI Agent Today
Thousands of businesses worldwide are using Chaindesk Generative
AI platform.
Don't get left behind - start building your
own custom AI chatbot now!