Definition of Social Enterprise
“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” (DTI definition)
Social Enterprises are business-like entrepreneurial organisations with primarily social objectives. Their surpluses are reinvested back into their business or the community to help achieve these objectives and change people’s lives for the better. Social enterprises are not driven by the need to maximise profit for shareholders and owners.
In essence, social enterprises use business solutions to achieve public good. They tackle a wide range of social and environmental issues and operate in all parts of the economy, helping make it stronger, more sustainable and socially inclusive.
Social enterprises have the potential to spot and move into gaps where services are not being provided. They can add value by providing services in innovative ways which better reflect the needs of the community.
“Social Enterprises are businesses that trade with a social purpose, using business tools and techniques to achieve social aims”
Social enterprises use their profits to further their social goals. As social businesses they are not focused on maximising profits for shareholders but on delivering a better quality of product or service for customers in pursuit of their social goals. They require a legal structure that enables them to trade whilst minimising the risk to the organisation and its members and that