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What is Social Enterprise
Social enterprises are businesses that trade in the market with a social purpose. They use business tools and techniques to achieve social aims and include an incredibly wide range of organisations, for example co-operatives, development trusts, community enterprises, housing associations, social firms, and leisure trusts. Most importantly voluntary and community groups are increasingly looking to Social Enterprise to fund the services they offer, as other sources of funding become more difficult to access.
Charities can be engaged in enterprise (income generation through business activity), but this must be directly related to their charitable objects. If the income generation is substantial and not related to their objects the charity usually has to set up a trading arm which is a limited company. But, apparently, that doesn’t mean that the charity itself has become a social enterprise (in a technical, legal sense anyway).
Social enterprises are set up and run as businesses, but all profits must be reinvested for social purposes. A new legal form has been created to govern them, the ‘Community Interest Company’, and there is a regulator. CICs have to prove to the regulator that they have been set up for community benefit rather than private advantage, and the profits must be reinvested.
Support for Social Enterprise in the Eastern Region (SSEER)
A project called "Support for Social Enterprise in the Eastern Region" (SSEER) is helping to start social enterprises in Bedfordshire & Luton and helping them towards success. So whether you are looking to start a social enterprise or get advice on one already under way, or indeed if you are a voluntary or community group that is looking to diversify the way you fund your operations, why not visit: www.seee.co.uk
You can find out:
- How to start up a social enterprise;
- How to keep on the right side of the law;
- How to get finance or grants;
- How to make your idea tradable
- How to survive after grants;
- How to demonstrate the value of your social enterprise.
An Guide to Becoming a Social Enterprise
If your group is contemplating becoming a Social Enterprise to assist in funding your activities, the prospect of setting one up may appear daunting & complcated. Well help is at hand as Forth Sector (www.forthsector.org.uk), who have been running a social enterprise for over 15 years, have produced an easy to follow guide that takes you step by step through the process of setting up as a social enterprise. The guide can be accessed at:
www.forthsector.org.uk/docs/New_BusPlanGuide.pdf
Reports
Other Resources
Business Link - contains useful articles on setting up Social Enterprises in the East of England
Social Enterprise Derby & Derbyshire - the site provides a useful array of resources to help in starting up a Social Enterprise
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