The DTI’s definition of social enterprise is:
'a social enterprise is a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners.'
Social enterprise is a business model that aims to deliver across a range of economic, social and environmental outputs – the ‘multiple bottom line’
Social enterprise is for anyone who wants to start a business and considers social and environmental impact as core objectives
It can bring wealth and empowerment to communities which may be otherwise marginalised
Social enterprises take on a range of different company legal structures, including Community Interest Company, Industrial & Provident Society, a Limited Company, a Trust, and Co-operatives
Social enterprises operate over many different industry sectors, including health and social care, arts and design, childcare, sport and leisure, finance and transport
Examples of well known social enterprises based in London include:
Trading arms of charities are also social enterprises, so for example charity shops and Oxfam’s Unwrapped catalogue
Recent new entrants to the UK social enterprise arena include MissionFish, which powers the ‘eBay for charity’ programmes, enabling sellers to donate a portion of their proceeds to charity, and Continuous Entertainment Ltd, a local recording studio that assists local talent of any age, gender, race and musical background through the production process
For further information please contact 020 7022 1920
