Understanding Social Enterprises
Welcome to our platform, where we celebrate and support the transformative work of social enterprises. Below, we have provided a brief guide to help you understand what social enterprises are, who can operate them, and how you can connect with our community if you are part of this innovative movement.
What is a Social Enterprise?
A social enterprise is a unique type of organization that operates with a dual-mission business model: achieving financial sustainability through business activities (selling a product or service) to further environmental, social, and cultural goals while also positively impacting society and/or the environment. These entities blend the passion of a social mission with the rigour of a business model to create change in their communities and the world at large.
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- Selling Products or Services: Just like traditional businesses, social enterprises offer products or services to their customers. However, the key differentiator is their underlying goal to address social issues, promote sustainability, or drive cultural change.
- Balancing Profit and Purpose: While generating revenue is crucial for sustainability, a social enterprise’s primary motivation is creating societal value. Profits are often reinvested back into the enterprise’s mission or the community it serves.
Who Operates Social Enterprises?
We see social enterprises run by for-profit businesses, co-operatives, and non-profits and charities establishing a business or revenue-generating arm to sustain operations financially.
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- For-Profit Businesses: Some traditional businesses adopt social enterprise models to contribute positively to their communities while still generating profits.
- Co-operatives: Member-owned and controlled entities often establish social enterprises to provide goods, services, and employment opportunities in alignment with their values.
- Non-Profits & Charities: Many non-profit organizations and charities create revenue-generating arms as social enterprises to secure financial sustainability, enabling them to continue their vital work.
Unity in Purpose, Strength in Collaboration
Join our community!
Are you a social entrepreneur? or do you identify as being part of a social enterprise? If you are passionate about using business as a force for good, we want to connect with you!
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- Share Your Story: Tell us about your mission, the impact you are making, and the challenges you are overcoming. Your journey could inspire others and create collaborative opportunities.
- Learn and Grow: Join our network to access resources, attend events, and engage with other like-minded individuals and organizations.
- Make an Impact Together: Let us strengthen the social enterprise ecosystem together, creating a more sustainable and equitable community for all.
Building a Stronger Community, Fostering Innovation
Two-fold Goals:
Goal #1: Building awareness about the potential of social finance for small businesses and social enterprises in Newfoundland and Labrador through educational outreach.
Goal #2: Quantifying the size of the social enterprise sector in Newfoundland and Labrador.
Project Objective
As we embark on an exciting journey to foster a thriving social enterprise landscape in Newfoundland and Labrador, our mission is clear and threefold.
a. Understanding: Quantify the size and potential of the social enterprise ecosystem in Newfoundland and Labrador.
b. Educating: Equip leaders of non-profits, charities, co-operatives, and for-profit small businesses with an understanding of financing and funding tools at their disposal.
c. Empowering: Pave the way for an impact investing fund tailored for entrepreneurs in Newfoundland and Labrador.
Join the Initiative!
Be part of Newfoundland and Labrador’s Social Enterprise Revolution!
As a community organization in Newfoundland and Labrador, we are reaching out to you to ask for your support by participating in our online Financial Resilience Survey. This initiative aims to shed light on the financial challenges that community organizations (social entrepreneurs, small business owners, non-profits, charities, and co-operative leaders) face and explore the potential of social finance and other revenue diversification activities as strategies in their pursuit of financial stability.
Discover the potential of social finance, contribute to our research, and access tools tailored to your enterprise’s growth.
Ready to take the next step?
Partners
