Blog

Social enterprises are an up-and-coming business form and are a remarkable fusion of entrepreneurial spirit and social responsibility.

An Introduction to Social Enterprises

Social Enterprise 101 In a world where profit maximization often takes the front seat, a quiet revolution is underway – combining the power of business with morals and compassion. Social enterprises are an up-and-coming business form representing a fusion of entrepreneurial spirit and social responsibility. In this blog post, we’ll explore what social enterprises are, their distinctive features, and all

Read More »
By incorporating sustainability practices into your social enterprise in 2024 can make a significant positive impact on the environment and your business

Sustainability For Social Enterprises

Sustainability For Social Enterprises: 10 Easy Ways to Green Your Business In today’s world, sustainability isn’t just a buzzword – it’s a necessity. As a social enterprise, adopting sustainable practices isn’t just good for the planet; it’s also good for your bottom line and reputation. But you might be wondering where to start. Fear not! In this blog post, we’re

Read More »
design thinking is a form of strategic brainstorming that hat prioritizes empathy, creativity, and collaboration (IDEO, n.d.).

Design Thinking for Social Enterprises: Innovation That Matters

What is Design Thinking? In an increasingly complex world facing social and environmental challenges, the need for innovative solutions has never been greater. One powerful tool that social entrepreneurs can tap into to create meaningful impact is “Design Thinking” (Brown, 2008). In this blog post, we will explore the concept of strategic Design Thinking and learn how social entrepreneurs can

Read More »
"A social enterprise is an organization or program that is mission driven, aiming to sell goods or services to earn revenue while also helping to achieve positive social, cultural, or environmental objectives." “it's a balance of profit and purpose and depending on what's the problem you're trying to solve what industry you're operating in that balance can actually look very different you might have to operate with more characteristics of a non-profit you could legally be registered as a non-profit or you could be doing it more as a business but you have to you have to find that” "Aside from earning profits, you're aiming towards connecting back to serving a particular community or environment." "Social enterprises can have various legal structures, reinvestment models, and levels of involvement from employees versus volunteers." "Social enterprises fit in between traditional charities/non-profits and for-profit corporations, balancing profit and purpose." "The importance of social enterprises lies in addressing increasing worldwide challenges and diminishing funds and resources, resulting in an emerging social deficit." "Issues such as poverty, food insecurity, and lack of essential health services highlight the need for social enterprises to target social, economic, cultural, and environmental problems." "We don't have enough funding, enough resources coming our way to be able to address these issues." "Many non-profits and charities are constantly struggling for financial stability." "Financial sustainability continues to be an issue when you don't have a sustainable model and long-term relationships for acquiring resources." "A local producer of textiles is a for-profit organization focused on manufacturing ethically made products and donating a portion of profits to charities." "Social enterprises can be structured as for-profits or non-profits and operate based on various business models such as employment-based, mission-based, profit-based, or cooperative." "We're always looking to balance social impact and revenue and profits, which can be quite challenging." "There's no right answer to how closely purpose and profit must be related; it depends on the social enterprise's goals and the issues they aim to solve." "When designing a social enterprise, it's important to differentiate between social impact and business frameworks and consider core values." "Core values for a social enterprise may include transparency, community engagement, and a focus on bringing about systems change." "Social enterprises can have various degrees of overlap between purpose and profit, depending on their model and the social issues they address." "Key steps in designing a social enterprise include conducting research, engaging with the community, developing sustainable models, and seeking opportunities for growth." "Innovation in social enterprises can involve various aspects such as profit models, product and service design, environmental impact, accessibility, brand building, and customer engagement." "Diversifying business models can help implement solutions for similar problems in different communities, not just expanding geographically." "Scaling up involves influencing decisions like federal budgets, launching social finance programs, and promoting investment in women-owned businesses." "Impact measurement is crucial for balancing purpose and profit, demonstrating a commitment to stakeholders, aiding decision-making, and preventing greenwashing and social washing." "There are various models for impact measurement, including the United Nations Sustainable Development Goals, local community reports, and custom frameworks like the Common Approach to Impact Measurement." "Impact measurement involves planning intended changes, setting performance measures, collecting beneficiary feedback, assessing impact, and reporting results to stakeholders."

Watch: The Fundamentals of Social Enterprise

This virtual workshop hosted by Social Venture Circuit explores the definition of social enterprise and how their operating models can beset up to empower communities, protect the environment and redesign societal norms for future generations.  Check out the recording below to learn more about: The evolving definition of what is a social enterprise Why we need a strong future for

Read More »

5 tips to make the most of your incubator experience

The risks, challenges and ambiguities facing a new entrepreneur can be very daunting. But did you know that joining an incubator can significantly improve the probability of success for your business? Make sure to tap into this rich ecosystem of support and get the best of the experience. Over the span of the past two years, I have had exposure

Read More »

Why are numbers important and how to use them in business

Tackling the finance workflow of your business can give you a lot of power to improve, grow and communicate its value proposition sustainably. Investing time into this support function can be a valuable intervention in the circular process of planning and running any operation, whether it is a social enterprise, for-profit or non-profit. Between running your business operations and planning

Read More »