If you are thinking of setting up a Social Enterprise in the UK we can help. We enjoy supporting entrepreneurs share values in commitment to social causes. We believe that your business and your cause will make a difference to the sustainability of our planet, our society and our way of life. Starting your social enterprise means you will make you a part of a network of 70,000 plus social enterprises across the UK.
We can help you with everything you need to set up your Social Enterprise, the right way.
Being a social enterprise means that while you operate your business as normal, you re-invest at least 50% of your profits into social causes. What you choose to do to create your profits is entirely up to you and what causes you choose to re-invest at least 50% of your profits into. It is also entirely up to you.
So essentially, being a Social Enterprise merges the traditional charity with the traditional profit-seeking business.
A Social Enterprise must meet the following requirements:
- A Social Enterprise must have a SOCIAL MISSION
- It must be TRADING FOR PROFITS
- And must be re-investing at least 50% off it’s PROFITS INTO ITS ACHIEVING ITS SOCIAL MISSION
- It should be INDEPENDENTLY OWNED but does not exist to maximise shareholders wealth.
- A Social Enterprise must measure its SOCIAL IMPACT.
Because you are running your business selling goods and service to the open market, you are able to choose from a number of business structures. Many Social Enterprises choose to start off as sole traders, Partnerships or Non-Profit Organisations and move on to choose a legal structure such as a Limited Company at a later stage.
Deciding on which structure suits you best will depend on a variety of considerations such as tax implications, legal separation and the basic constitution of your Social Enterprise.
School for Social Entrepreneurs – The School for Social Entrepreneurs to get access to learning programmes and support for social startups. The SSE also offers grants. Visit www.the-sse.org
UnLtd – Get access to a range of grants and advice for social enterprises at the pre-startup and established phases of their social entrepreneurship. Visit www.unltd.org.uk
The Directory for Social Change – Offer training courses and offers a searchable database of trusts and foundations. Visit www.dsc.org.uk
Funding Central – Funding Central is a great place to find Funding opportunities and is free to for small businesses to use. Visit www.fundingcentral.org.uk/
NatWest Social & Community Capital – Natwest bank’s independent charity which can provide bigger loans between £30,000 and £750,000. They also offer business support to social enterprises who are unable to access mainstream funding. Visit www.natwest.com/scc