A social enterprise are businesses that are set up to change the world. Although like most businesses they aim to make a profit, but they reinvest and donate that profit to create a positive societal change which separates them from other businesses. They exist in nearly every sector from healthcare to creative agencies, with over 70,000 social enterprises in the country that employ nearly a million people. Social enterprises include The Big Issue, the Eden Project and the London Symphony Orchestra.
Social enterprises are defined as having:
A clear social and/or environmental mission set out in their governing documents.
Generated the majority of their income through trade.
Reinvest the majority of their profits.
Autonomous of the state.
Majorly controlled in the interests of the social mission.
Are accountable and transparent.
The Big Issue & Social Enterprises
Founded by John Bird and Gordon Roddick in 1991, The Big Issue is one of the UK's leading social businesses and exists to give people struggling with homelessness the opportunity to make an income. Magazines are made at a high quality and are sold to vendors for £1.50 (£1 less than the actual price). The vendors make up the £1 difference for every copy they sell, with which they can either buy more magazines to sell and make more profit or keep the money for things like food and clothes. This business model makes The Big Issue a prime example of a social enterprise as it is an organisation that uses its profit to bring about a positive social change instead of just generating wealth like most businesses do.
Different Social Enterprises
The Eden Project
Cafedirect
Camara
The Co-operative Group
Divine Chocolate
Fairfield Material Management
HCT Group
John Lewis Partnership
London Symphony Orchestra
Skoll Centre for Social Entrepreneurship
Technology Trust
Two Fingers Brewing Co.
Welsh Water
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