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Social Enterprise
A busted flush or the next
big thing?
Stephen McGarry
@steviemcgarry
Why social enterprise is like...
Why social enterprise is like...
 Focus on strengths
 Don't forget your roots
 Funding is critical
 Do the right thing
 Measure
 Don't get caught up in
branding
 Support Team &
Leadership
 Roll with the punches
 Small things matter -
‘Marginal Gains’
 Compete or
cooperate
Branding
Support & Leadership
Roll with the punches
What are our strengths?
Compete or Cooperate
‘Marginal gains
Don't forget your roots
Funding is important
Do the right thing
Measure what you do
Programmes of Support
Social Economy Support
Programmes of Support:
 Social Enterprise
 Support
 Networks & Linkages
 Non-Social Enterprise
specific
 Community & Voluntary
sector
Access to finance:
 Grant providers & trusts
 Ethical Lenders
 Social Entrepreneurs
 Innovative sourcing
 Equity finance
 fundraising
Social Economy Support
 Social Entrepreneurship Programme
 Belfast City Council pre-enterprise
programme
 Social Economy Village
 Trade Social
 Non-Social Enterprise specific
Social Entrepreneurship
Programme (SEP)
 NI wide initiative provided by Invest NI
 Blend of one to one mentoring and training
workshops
 2 elements to the programme
 Lead in or Enquiry
 Core – Start Up
SEP – Core Support
 Start Up stage – suitable for ideas which will
generate more than £50k turnover annually
within 2 years of start up
 Business ideas should show growth potential
 Business planning: 3 year business plan and financial
projections
 Flexible finance package: provided by Invest NI/Lloyds
Foundation and UCIT
 Post start aftercare: tailored to your needs
 Menu of training: ‘staples’ and more unique
Pre-enterprise support
 For Belfast based groups with little or no experience of
social economy structures or ethos
 Workshops
 Best Practice Exchange
 1:1 Mentoring support
Pre-enterprise support -
continued
 Pre-enterprise workshops
 Governance support
 1:1 mentoring
 Best practice exchange – 3 visits and 1 day work
shadowing
 Final event and evaluation - involving other
support providers to the sector
Social Economy Village
 A Work West initiative to provide dedicated quality
workspace for the social economy sector
 Funded by the International Fund for Ireland and DETI
through the Peace II Extension Programme
 Officially opened in June 2009
 9 offices available and 4 industrial units
 Quality room hire and meeting facilities available
www.tradesocial.net
@trade_social #societyprofits
 Free profiles for NI social enterprises in Work West’s
trade directory for the sector
 Supports our ethos to “buy from within the sector”
 Funded by Lloyds TSB Foundation for NI and Strategic
Investment Board
 Officially launched in June 2008
 Details of 266 social enterprises, and growing
 Regular E-Zine function – allows us to keep in touch with
profiled companies and stakeholders
Other
 Belfast City Council –
Economic
Development
 NICVA
 School for Social
Enterprise @ UBS
 Invest NI (Innovation
Vouchers & Jobs
Fund)
 UnLtd – for Social
Entrepreneurs
 Business in the
Community (ProHelp)
 Volunteer Now
 FE & HE: work
placements &
expertise
Other2
 www.governancehub.org.uk
 CIPFA courses
www.cipfa.org.uk
 www.diycommitteeguide.org
 www.clearlyso.com
 www.socialfirmsuk.co.uk
 www.startups.co.uk
 www.halfbakery.com
 www.entrepreneur.com
 www.nibusinessinfo.co.uk
 www.hbr.org
Access to Finance
Grant providers & trusts
Ethical Lenders
 Ulster Community Investment Trust
 Big Issue Invest
 Charity Bank
 Tridos & Unity Trust Bank & Cooperative
Bank
 Esmee Fairbairn Foundation
 Social Investment Fund
Innovative finance
 Equity finance
 Afforded under ‘new’ CIC status
 Capped returns
 Fundraising
 Increasing ‘philanthropy’?!
 “Buy a Brick”
 Instagiv / MyCharity / JustGiving
 Crowdsourcing
 Grant Tracker & J4B
Contact us
Stephen McGarry
Work West
301 Glen Road
Belfast
BT11 8BU
Tel: 028 90610826
s.mcgarry@workwest.co.uk
www.workwest.co.uk
www.tradesocial.net

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Why social enterprise is like the olympics

  • 1. Social Enterprise A busted flush or the next big thing? Stephen McGarry @steviemcgarry
  • 3. Why social enterprise is like...  Focus on strengths  Don't forget your roots  Funding is critical  Do the right thing  Measure  Don't get caught up in branding  Support Team & Leadership  Roll with the punches  Small things matter - ‘Marginal Gains’  Compete or cooperate
  • 6. Roll with the punches
  • 7. What are our strengths?
  • 12. Do the right thing
  • 15.
  • 16. Social Economy Support Programmes of Support:  Social Enterprise  Support  Networks & Linkages  Non-Social Enterprise specific  Community & Voluntary sector Access to finance:  Grant providers & trusts  Ethical Lenders  Social Entrepreneurs  Innovative sourcing  Equity finance  fundraising
  • 17. Social Economy Support  Social Entrepreneurship Programme  Belfast City Council pre-enterprise programme  Social Economy Village  Trade Social  Non-Social Enterprise specific
  • 18. Social Entrepreneurship Programme (SEP)  NI wide initiative provided by Invest NI  Blend of one to one mentoring and training workshops  2 elements to the programme  Lead in or Enquiry  Core – Start Up
  • 19. SEP – Core Support  Start Up stage – suitable for ideas which will generate more than £50k turnover annually within 2 years of start up  Business ideas should show growth potential  Business planning: 3 year business plan and financial projections  Flexible finance package: provided by Invest NI/Lloyds Foundation and UCIT  Post start aftercare: tailored to your needs  Menu of training: ‘staples’ and more unique
  • 20. Pre-enterprise support  For Belfast based groups with little or no experience of social economy structures or ethos  Workshops  Best Practice Exchange  1:1 Mentoring support
  • 21. Pre-enterprise support - continued  Pre-enterprise workshops  Governance support  1:1 mentoring  Best practice exchange – 3 visits and 1 day work shadowing  Final event and evaluation - involving other support providers to the sector
  • 22. Social Economy Village  A Work West initiative to provide dedicated quality workspace for the social economy sector  Funded by the International Fund for Ireland and DETI through the Peace II Extension Programme  Officially opened in June 2009  9 offices available and 4 industrial units  Quality room hire and meeting facilities available
  • 23.
  • 24. www.tradesocial.net @trade_social #societyprofits  Free profiles for NI social enterprises in Work West’s trade directory for the sector  Supports our ethos to “buy from within the sector”  Funded by Lloyds TSB Foundation for NI and Strategic Investment Board  Officially launched in June 2008  Details of 266 social enterprises, and growing  Regular E-Zine function – allows us to keep in touch with profiled companies and stakeholders
  • 25.
  • 26. Other  Belfast City Council – Economic Development  NICVA  School for Social Enterprise @ UBS  Invest NI (Innovation Vouchers & Jobs Fund)  UnLtd – for Social Entrepreneurs  Business in the Community (ProHelp)  Volunteer Now  FE & HE: work placements & expertise
  • 27. Other2  www.governancehub.org.uk  CIPFA courses www.cipfa.org.uk  www.diycommitteeguide.org  www.clearlyso.com  www.socialfirmsuk.co.uk  www.startups.co.uk  www.halfbakery.com  www.entrepreneur.com  www.nibusinessinfo.co.uk  www.hbr.org
  • 30. Ethical Lenders  Ulster Community Investment Trust  Big Issue Invest  Charity Bank  Tridos & Unity Trust Bank & Cooperative Bank  Esmee Fairbairn Foundation  Social Investment Fund
  • 31. Innovative finance  Equity finance  Afforded under ‘new’ CIC status  Capped returns  Fundraising  Increasing ‘philanthropy’?!  “Buy a Brick”  Instagiv / MyCharity / JustGiving  Crowdsourcing  Grant Tracker & J4B
  • 32.
  • 33.
  • 34. Contact us Stephen McGarry Work West 301 Glen Road Belfast BT11 8BU Tel: 028 90610826 s.mcgarry@workwest.co.uk www.workwest.co.uk www.tradesocial.net

Editor's Notes

  1. fantastic summer of sport including, thanks to the Olympics and especially the Paralympics, many sports we are unlikely to look at again until Rio. A summer that inspired many of us to dust of that old bike and dream we were leading the Peloton down the Champs-Élysées , scoring the winner in the euros or claiming the Irish Open on a dramatic 18th hole at Royal Portrush. But how can the sport and especially our new Olympic heros inspire us to do greater things in our social buisnesses!
  2. Pre Olympic talk was very much focused on who, where and when you could use the Olympic brand, even the term London 2012! And for many years now the community, public and even social economy sectors have been ‘obsessed’ with what is and isnt a social business... Social Enterprise is entering the ‘mainstream’ consciousness But too often caught up in DEFINITION and LEGAL STRUCTURES If you have a clearly defined social purpose, back this up with activities (be that reivesting and surplus into this purpose or whatever) and operate to a successful business model... You ARE a social business
  3. Unity – Energy – Commitment of entire #socent sector in Salesforce issue So many of the athletes have thanked their support team – their coaches, physios, dieticians, and so on. Make sure you have a great support team of specialists and take their advice. It might be your accountant, your partner, board member – build a team who believe in you, understand your business and have the specialist knowledge that you don’t have.
  4. Deal with setbacks and move on If you read the stories of these athletes, they have all had their setbacks but have persevered. Heptathlete Jessica Ennis could not compete in the Beijing Olympics in 2008 because of three stress fractures in her right foot. She has had to re-train herself to take off for the long jump on her left foot. This hasn’t stopped her from winning a gold medal four years later. All successful businesses have suffered setbacks, so we need to learn from them and move on
  5. Focus on your strengths Each of the athletes has their own strengths and uses them.  Are you a heptathlete, built for a wide range of events, or is the long jump really your strength? Focusing on what you do best (and getting help in your weaker areas) will give you the unique selling point you need to get ahead It may take time - Paralympian Josie Pearson won gold in the discus on Fri having competed in Beijing in Wheelchair rugby, moved to athletics in 2009 and after a lack of progress started the discus... And wins gold
  6. Competition and co-operation In the women’s triathlon, we saw Lucy Hall lead the swimming and cycling, to set the pace and tire others so that team mate Helen Jenkins could save her energy for the running, her own strength, leading Helen to fifth place. This was well deserved when she had been injured not long before the race. We all have competition, but sometimes we should consider working with our competitors rather than against them. Co-operation could lead to getting bigger projects, learning from their strengths and using your different strengths to build a stronger team.
  7. Small changes can make a big difference Many have asked what is behind the success of British cyclists in recent years. The answer is Dave Brailsford, performance director for British Cycling. Brailsford obviously has many qualities, from his eye for the small detail, or what he calls ‘marginal gains’ to an ability to appoint and delegate work to his team of experts.” We have mentioned the team of experts, but the ‘marginal gains’ philosophy is also something we can learn from in business. As a mentor and trainer, my clients often want a silver bullet to solve their marketing issues, but it is usually making small changes which add up to a big difference – from a different subject line in an email campaign to how enquiries are recorded and followed up.
  8. Don’t forget those who helped you and give back Olympic heroine Jessica Ennis regularly still competes with Sheffield AC (division three of the northern league). When you have achieved success, don’t forget your roots, and those who helped you, and be willing to help others.
  9. Funding James Ellington auctioned his sponsorship on Ebay and finally raise funds through King of Shaves sponsorship – Social enterprises must be innovative in raising finance and seek positive partnerships
  10. Do things right Ethical business – social business – social enterprise... Whatever term we use we are often obsessed with doing the right thing – using local suppliers, employing persons from disadvantaged areas or suffereing from disadvantage... As good sustainable businesses Lets face it, no one likes a cheater 
  11. Impact & Measurement Measure the impact is becoming more and more important – for PROVING what we say we do Be that for the benefit of our stakeholders (or shareholders!), funders or beneficiaries it is imperative that we can illustrate the impact we have...Imagine if Greg Rutherford hadn't bothered with measuring his 8.31m jump!
  12. Plans to develop:
  13. BCC – WW running 2 programmes currently for Strategy (for existing businesses) and a High Growth programme (for new innovative ideas) that have welcomed social enterprise – more so than perhaps any other non-social enterprise initiatives have in the past E3 Project Based Learning
  14. Dividend cap = 20% over BoE base (max 35%) Crowdsourcing BuzzBnk - £250k raised since Jan 2011 for 26 projects Peoplefund.it – Bicycle Acadamey raised £40k in 6 days! (using a 2m video)