Are you secretly a social entrepreneur?
New research shows that the UK could be home to 232,000 social entrepreneurs – nearly four times as many as official estimates had calculated. Do you consider your business as a social enterprise?
Thumbs up to social enterprise
Social enterprises are usually defined as businesses that re-invest their profits or surpluses to achieve social goals.
A new study of 2,121 companies by economics consultancy Delta Economics and market researchers IFF Research reveals that one fifth – or 21 per cent – of Britain's entrepreneurs are running “hidden social enterprises.
These businesses, for-profit companies with a social or environmental consideration, are usually smaller businesses, the research found, with nearly all of them having a sub-£200,000 annual turnover.
“Hidden social enterprises have wealth and value creation potential that is similar to mainstream businesses – there is no need to compromise growth or profitability for the sake of doing something to make a difference,” says Dr Rebecca Harding, MD of Delta Economics. “Entrepreneurs really are the world's changing agents.”
We're big fans of social entrepreneurs. There is no reason why a business can be both profitable and good for society. Delta's research supports this, showing that "making society a better place" is a goal that many entrepreneurs strive for. Surely that can't be a bad thing?
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