Key Elements of a social enterprise

Separating us from the private and third sector

Photo by Jon Tyson on Unsplash

Some charities call themselves a social enterprise, and some corporates call themselves a social enterprise. Then social enterprises call themselves social enterprises.

Confused already? That’s the problem, many people can’t really differentiate what is really a social enterprise which can then lead to a lack of trust in the sector. There are standards such as B Corp certification, and legal structures such as CIC that can demonstrate who is and who isn’t, however these aren’t necessarily available or accessible all over the world.

Here I discuss the key elements of social enterprise, based on legal structures, certification and strategies from around the world. When deciding if a company/charity/social enterprise is or isn’t what they say, ask yourself these questions.

Who is/are their priority/priorities?

Stakeholders should be the number one priority for a social enterprise. These stakeholders are often defined by the mission or goals of the social enterprise, and can be a group of people or part of the environment. These stakeholders will have some sort of say on how the social enterprise is run. Obviously, the Amazon Rainforest can’t fill in a questionnaire or attend an AGM, but it is still able to…