That's a great question!
Social enterprises, like ordinary businesses, can take many different forms and use a variety of business models. You may have even bought something from, or used the service of, a social enterprise without even realising. Have you ever bought a pair of Toms? Or a copy of the Big Issue? They're social enterprises! Using retail products to make a difference in peoples lives. Even the Union is a registered social enterprise, reinvesting all of our funds into helping to make your life as a student the best it can be.
For ACT Now! and our funding schemes, we have come up with our definition of a social enterprise:
'An enterprise with a primary social mission that applies/intends to apply commercial strategies to improve human and environmental well-being.
For-profit social enterprises will reinvest a significant proportion of their profit back into the business or target community'
A business with an ethical and social mission at its core, applying business strategies to achieve its goal.