What is a Social Enterprise?

A social enterprise is a business model that prioritises the creation of social or environmental impact alongside financial sustainability. Unlike traditional businesses that primarily seek to generate profits for their shareholders, social enterprises are mission-driven and focused on addressing societal problems by creating positive changes through their products, services, or operations.

Social enterprises can take various forms, including non-profit organisations, cooperatives, and for-profit entities. However, what sets them apart from other types of organisations is their emphasis on using market-based approaches to promote social good or environmental sustainability.

For example, a social enterprise may aim to empower marginalised communities by producing and selling handmade products created by local artisans. Another social enterprise may seek to reduce waste and promote resource conservation by creating environmentally friendly products.

In summary, social enterprises strive to create a positive impact alongside financial success, making them a powerful tool for addressing some of the most pressing social and environmental challenges of our time.