What is Social Enterprise?
Unlike Not-For-Profit Organisations and Charities, Social Enterprise operate with a business and revenue model to ensure financial viability and sustainability. They are still driven primarily by social purpose as the main objective and see revenue as a way to ensure this can be achieved. Community, disabled, families, domestic violence… whatever the cause, a revenue model looks at where other value can be provided to exchange for revenue to meet the social objectives.
Mind For Me wasn’t planned as a social enterprise, didn’t even know of such things but knew it had to stand on its own legs. It was recognizing the need to be viable and sustainable that led to the current model and being categorized as a Social Enterprise. There is a lot more that goes on behind the scenes to ensure our social purpose is not compromised and objectives can be achieved and sustained.
How about CSR (Corporate Social Responsibility)?
CSR is where a business or corporation minimizes or compensates for their impact. This is a part of their responsibility to the community and external stakeholders but isn’t their main objective or purpose. CSR itself may be comparable in social impact but Social Enterprise has this at the very core and uses a business structure and model to ensure it can be achieved.
If you’re involved with a Not-For-Profit Organization, a Charity or Social Enterprise do let us know your purpose and what you’re doing!