Social Enterprise Report
introduction:Social enterprise is an alternative business option, when society profits. They trade and tackle social problems, improve communities and life chances. This report is linked to a live project. Social Enterprise is an up and coming thriving scheme allowing people to start their own business with funding available. Society has to profit in these businesses. Some Social Enterprises are more well known than others, one of the most well known Social Enterprise in the UK is The Big Issue Magazine.
What makes a company a social enterprise?
A social enterprise has a clear social/environmental mission set out in their governing documents.They have to generate more than 50% through their own trading activities. It is not a charity. Profits have to be generated. Social Enterprise is an alternative business option which allows the local community and society to benefit. Social Enterprises have a clear mission and sometimes environmental for example the eden project.
The rise in popularity of Social Enterprise
Social enterprise has had a rise in popularity and now the UK is home to 68,000 social enterprises. The Guardian newspaper states that although 3/4 of the public support social enterprises, only 20 percent know what they are. In order to raise the popularity further, firstly awareness needs to be raised.
What is required legally
CIC (community interest companies) is required legally. It is a limited company, created for the use of people who want to conduct a business or other activity for community/ society benefits.
Funding available
The government-backed bank has an initial 600 million and will lend to social enterprises. This is just one of the fundings available. There are also ways to get funding without relying on government funds, for example: Kickstart.
Kickstart is a new programme run by experienced entrepreneurs for entrepreneurs which invests up to £30,000 to help fund early stage business - including sustainable social enterprises. There are many ways of funding similar to 'kickstart' for example here are some which I have researched:
- www.kickstartinvestment.com
- www.unltd.org.uk
- www.startupbritain.org
- www.sicamp.org
- www.theemergelab.org
Case studies:
Who Made Your Pants:
This is a social enterprise located and formed originally in Southampton. It is a campaigning lingerie brand. All profits in the business go back into the business. They believe their pants can change the world. The costs go towards training, support & advice. Who Made Your Pants was inspired by human rights and was developed solely from this. The idea that started the social enterprise was that the founder stopped and thought about who made their pants and where they came from. Who made my pants is a social enterprise developed to empower human rights and prevent sweat shops.
Hilsea Lido For The People: (HLPP)
The Hilsea Lido has been redeveloped and the splash pool has been reconstructed and given a new look as funded by the government. However, the Hilsea lido could not get the funding to re-open the swimming pool. Profits made in the social club area of the Blue Lagoon go into re-opening to pool. It is a developing social enterprise funding itself for the community of Portsmouth in order to re-open the pool. Hilsea Lido currently holds fundraising. They hold fundraising events, encourage donations, have the help of the community involvement, and seek business partners. Strong ties with the business community to access commercial expertise, fundraising support and donations is essential for the running of a commercially successful venue. The pizza house restaurant have hosted 2 highly successful fundraising events. The Hilsea Lido website states that: 'The Community Payback Team have worked long and hard to make sure that the site is clean and presentable. They are continuing their support by preparing and painting the ladies toilets, clearing huge areas of overgrown shrubbery and unwanted trees from around the perimeter of the lido and digging out drainage holes and pipes that have been blocked up for years.'
The Hilsea Lido now has office space at Enterprise House in the centre of Portsmouth. The team at the Lido are working hard to re-open the pool in order to profit local people and allow a safe place to swim and play. They are currently looking for lifeguards and are hoping to have the pool up and running by next summer.
Yellow Kite Southsea Castle:
Yellow Kite is a social enterprise based in Southsea Castle. Yellow Kite is an organisation that hosts and makes lunches. The lunches they make are designed to help needy people. They sell for only £2.00. The website states: 'Yellow Kite, Pompey’s favourite social enterprise will be serving up a really decent meal for less than the price of a well-known burger. And guess what. It will be nutritious and tasty too. Well that’s what our very own masterchef Danny says.' Love lunch is a community project where all you need to do is turn up with proof of Portsmouth post code and £2.00 for a tasty and nutritious lunch. Yellow Kite is the most popular social enterprise in Portsmouth with its slogan 'food on a mission'. Yellow Kite has developed a range of support packages available now to all community cafes in the city where they can access guidance, grants and an opportunity for improving their current menu offer. They have just launched a' Meatball Monday' scheme where they teach folk young and old across the city how to make a wholesome meal for just £1, we started with meatballs but have much more planned. Their aim is for sustainability well into the future, giving a long-term legacy to all that healthy Pompey has achieved.
Conclusion:
I have found that Social Enterprise Schemes have been some what successful. The rise in popularity is only going to help improve success rates and help young people in the economy. A social enterprise is an effective way to set up a business as there is financial help available and the community and society will profit. It is a good alternative option to take when setting up a young business and with greater awareness of the scheme comes a greater number of social enterprise schemes in the community.
Recommendation:
Big field productions (a developing social enterprise) could use techniques in order to attract a young audience. The general audience will be attracted to the area if there is a USP linked to it that other places do not supply for them. For example, cheaper tickets to events than Vue cinemas or commercial businesses.
As it is in Petersfield it could attract the local audience by focusing on local events, for example it could link with the local football club (Petersfield or Liss) and hold events for the games and attract the young team members and friends to attend before/after the game. It could even develop into holding awards evenings for the teams and hold live music and quiz etc. It is these USP's that will attract a local audience and eventually word of mouth will spread the talk about Big Field Productions. This is another way to help profit society.
BIBLIOGRAPHY:
http://www.theguardian.com/social-enterprise-network/2013/jan/08/social-enterprise-popular-confusing-study
http://knowhownonprofit.org/how-to/how-to-get-funding-for-a-social-enterprise
http://www.whomadeyourpants.co.uk/pages/about-us
http://www.hilsea-lido.org.uk
http://www.yellowkite.org.uk/southsea-castle/
