A social enterprise is a business where organisations, often with a social entrepreneur at the helm, resolve pressing social issues through their trade and practice. They are passionate, driven to fulfilling their purpose and are interested in change and how things should be.
The social enterprise pursues change, social, community or environmental change usually instead of profit in their business. Building a profitable company to undergo the change utilising available tools, business models and the knowledge required to fulfil the vision of the enterprise.
When starting out, the social enterprise should be focused like all small business start-ups on the foundations to build a successful business, planning, finance, marketing, sales, research - but the social entrepreneur also has change the world to be a better place in its sights.
So how does an entrepreneur or even a business owner become a social entrepreneur and create a thriving social enterprise that delivers resounding impact? How do they keep their staff focused on the same page as they move with zeal and tenacity to reach their summit?
“In Australia, the concept of a Social Enterprise is only just gaining momentum, as much as social enterprise has seen resounding results in the United Kingdom and the United States, the concept is just starting to take hold here. It may take time to communicate to some organisations that they are already running a social enterprise, they’re just not aware they are,” Jodie Mitchell, Manager, Sydney West Program for Social Enterprises Sydney, “It also requires patience to bring the processes and policies on board to support the long-term vision.
Conventional entrepreneurship in Australia has seen new interest as is often the case as a result of a global economy downturn, yet now there are many who are looking to address social barriers often what they’ve seen within their own family or circle of friends, the thoughts are how can I work to break those barriers down.
The key to success in a social enterprise is not to lose sight that it is a business, a lot of social enterprises are reliant on funding and grants yet some of the policies behind these financial contributions deny the money being used for actually running the business, rent, wages or overheads. Caution has to be on making sure that these fundamentals of any business are being met to stay afloat, another issue can be that the reason the funding is available may skew the focus of the social enterprise to morph into something they’re not meant to be and lose sight of the original purpose they’re meant to be.
Remember to keep your social enterprise professional, like any business working with best practice principles, to reap the rewards you are aiming for.
Targeted social enterprise development programs like ours are unique, has been developed for social enterprises to be supported, promoted and networking social enterprises with each other for additional connections. Like traditional business entrepreneurs, social entrepreneurs and their enterprises make their changes through a sustainable long-term model that will help them reach their goal and not be blind-sided by the unknowns.
For more information on becoming a social enterprise, attending an upcoming information session or workshop visit the website for Social Enterprises Sydney – www.socialenterprises.com.au or phone 1300 788 922. Friend our page on Facebook for additional information on the activity of Social Enterprise in Australia.
