Starting a Social Enterprise
What is social enterprise? It is defined as a business with specific social objectives that serve its primary purpose. They are seeking to generate profits, whilst maximising benefits to society and the environment. The difference is in how they operate, and how they use their profits.
Factors to consider when starting a social enterprise include:
- Mission. What is the goal?
- Market. Is anyone else trying to solve these issues?
- Money. Who is going to pay for the product or service?
- Social Impact. What is the positive difference you will make?
- People. Who needs to be involved to make this work?
- Sales & Marketing. What is your USP and how will you share it?
- Legal. Ensure your business starts off on the right foot.
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