Social enterprises play a vital role in transforming communities and contributing to the wider economy while addressing pressing social and environmental challenges. In this blog post, we'll delve into what social enterprises are, the benefits they provide to society, and highlight some resources and services available to aspiring social entrepreneurs.
What is a Social Enterprise?
Social enterprises are businesses driven by a social or environmental mission. They aim to create positive change, channelling their profits towards addressing social issues rather than maximising shareholder returns. These mission-driven organisations are diverse, encompassing various sectors such as education, health, environment, and community development.
Benefits to Communities and the Wider Economy
Social enterprises have a profound impact on both local communities and the broader economy. By tackling social challenges, they contribute to the wellbeing and empowerment of individuals, fostering a sense of belonging and inclusion. Moreover, social enterprises often operate in underserved areas, revitalising neighbourhoods and creating job opportunities. According to Social Enterprise UK, there are over 100,000 social enterprises in the UK, collectively employing over 2 million people and generating £60 billion in revenue annually. These statistics highlight the significant role social enterprises play in driving positive social change while fostering economic growth.
Resources and Services for Aspiring Social Entrepreneurs:
Social Enterprise UK (SEUK): As the national membership body for social enterprises, SEUK provides invaluable resources, advocacy, and networking opportunities. Their website offers a wealth of information, case studies, and research to support budding social entrepreneurs.
UnLtd: UnLtd is a foundation that provides funding, mentorship, and support to individuals looking to launch social ventures. Their "Thrive" and "Grow It" programs offer tailored assistance to early-stage and established social enterprises.
School for Social Entrepreneurs (SSE): SSE empowers social entrepreneurs through diverse learning programmes, fellowship opportunities, and specialist support.
Borough of Barnet Support: Local initiatives like Barnet Together offer funding and support to projects addressing social challenges within the borough. Additionally, Barnet Council’s website offers information on free training, events and support schemes for businesses.