What is social enterprise?
- A social enterprise is a business with primarily social objectives and aims, as well as social responsibility.
- While still remaining a business, a social enterprise has the specific feature of reinvesting its profit in the business or in the local community, thus enabling it to deliver on social objectives.
- Social enterprises work to achieve social aims, such as job creation, training or the provision of local services, based on ethical values such as building the skills of local communities. These objectives are often seen to result in ‘social profit’, or benefits for society.
Why does social enterprise matter?
- Because of their rationale of using business to achieve public good, social enterprises are thought to have potential to help create a strong, sustainable and socially inclusive economy.
- Social enterprises are active in promoting quality employment and strengthening local social capital.
- Many social enterprises have enabled individuals and communities to work together towards regenerating their local neighbourhoods.
What are examples of successful social enterprises?
The following case studies in this manual are examples of successful social enterprises:
Greenwich Leisure Limited, London
La Grande Casa, Milan
How can we foster social enterprises in deprived urban areas? • Policy makers and practitioners can work to promote social enterprises in deprived urban areas in the following ways:
- Tailored business support initiatives
- Promoting access to finance
- Promoting networking
- Encouraging innovation and enterprise among young people
- Providing incubator space for businesses
- Regenerating deprived areas and attracting inward investment
- Promoting good governance and Strategy
Entrepreneurship