Site Sponsors
Sites for small businesses
(£9.99 a month):
www.BusinessSiteMaker.com
Websites you can adjust for free
Sites for all businesses
(From £795):
www.3Gwebdesign.com
Websites you can adjust for free
Information
Setting up a social enterprise...Social enterprises are businesses that trade in order to pursue a social aim.
They: produce goods or provide services to achieve their goals and financial self-sufficiency have explicit social aims such as employment and training - particularly for disadvantaged groups - or provision of services.often have a democratic management style with a number of different stakeholders taking part in decision making - these may include employees, users of the social enterprise or specially appointed trustees
often report on their social, environmental and economic impact.
principally reinvest profits in the business or in the community to further their social aims.
Social enterprises are diverse and operate at many levels. They include community enterprises, social firms and mutual organisations such as co-operatives and large-scale operations operating nationally or internally. What they have in common is a commitment to meeting social and financial needs, with some also aiming to meet environmental needs. Sources of finance and funding for social enterprises include: trading income retained profits bank, Community Development Finance Institutions and other loans.
Social enterprises may qualify for grants in the same way as other types of business. In addition, social enterprises in disadvantaged communities, or which address social exclusion, may qualify for start-up and capital grants. Search for grants for the voluntary and community sector on the governmentfunding.org.uk website. Setting up a social enterprise
There is no single legal model for setting up a social enterprise. They include companies limited by guarantee, industrial and provident societies, and companies limited by share. Some organisations are unincorporated and some are registered charities. However, if you are planning to set up a social enterprise, you may want to set up your organisation as a limited company. There are three main ways of doing this: You could set up your social enterprise by registering it as a company limited by guarantee. This is the most common type of set up for organisations intending to trade in this sector.
You could register your limited company as an industrial and provident society.
You may set up a business by registering your business as a company limited by shares.
It is also worth noting that a new trading form - the community interest company or CIC - is due to be introduced in mid-2005. This will provide social enterprises with the flexibility of the company form. Read about CICs on the DTI website.
Get more information on starting a Social Enterprise here or join this site, if you are already one, here.