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Student hubs - Social Enterprises


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Student hubs - Social Enterprises

  1. 1. What is Social Enterprise? And how do I start one?
  2. 2. Aims • To understand ‘social enterprise’ • To go through an ideation process to identify a need that can be solved by social enterprise • To understand the first steps in starting a social enterprise
  3. 3. Social Enterprise? There is no legal structure for a social enterprise, but they all broadly do this: 1. Aim to generate their income by selling goods and services 2. They are set up specifically to make a (social)difference 3. They reinvest their profits into their social mission
  4. 4. Basic definition If you are considering social enterprise, one of the easiest ways to think about it is using a scale: Charity Corporate Social Enterprise
  5. 5. Better Definition Traditional Charity Social Enterprise Traditional business Less commercial More commercial Less social More social
  6. 6. Types of SocEnt As you can imagine, treating social enterprise as a ‘middle ground’ means there can be lots of interpretations. Examples include: • Co-operative • Voluntary Organisation • Social Business
  7. 7. Examples of SocEnts Some you might know:
  8. 8. Examples of SocEnts Some you might not:
  9. 9. Society profits Social Enterprise UK is one of the leading organisations in the field of social enterprise. This is how they describe it: X2cXjIQU
  10. 10. Dos and Don’ts SocEnts do: • Make money from trading • Cover their costs in the long-term • Put their profits into a social cause • Pay salaries to staff SocEnts don’t: • Exist to make profits for shareholders • Exist to make owners very wealthy • Rely on volunteers, donations, or grants to stay afloat
  11. 11. One more thing to think about…
  12. 12. What happens if you take away the need? In a successful social enterprise, when you take away the need for the business – if the social problem is solved – what happens? Think about if… • Divine: all farmers are wealthy • Fifteen: all disadvantaged youth empowered
  13. 13. The market demand for your product /service should NOT be dependent on the need If you take away the social need, the business should stand on its own What happens if you take away the need?
  14. 14. Creating a social enterprise idea
  15. 15. Identifying the ‘real’ need Consider your car not starting: (Problem) My car won’t start 1. The battery is dead 2. The alternator isn’t working 3. The alternator belt is broken 4. The alternator belt was old and not well looked after 5. The car was not maintained as recommended by the garage.
  16. 16. Identifying the ‘real’ need A more practical example: (Problem) Greg is homeless 1. Greg cannot afford a house 2. Greg doesn’t have a job 3. Greg’s CV not high quality 4. Greg has suffered from lack of job and poor execution for a long time 5. Greg dropped out of college and doesn’t have skills or qualifications
  17. 17. Creating a social enterprise idea
  18. 18. Premise You are a committee of individuals tasked with solving a ‘big picture’ need. You have the following things: • A large venue (sports hall sized room) • A year of no commitments • £10,000,000 to spend on anything you like
  19. 19. Stage 1: Blue sky thinking
  20. 20. Stage 2: Growth phase
  21. 21. Stage 3: Streamlining
  22. 22. Stage 4: Consolidation
  23. 23. Stage 5: Realisation…
  24. 24. Realisation Even the most outlandish ideas have a root in the practical. How are you going to take this idea and turn it into something? What do you need to know to move forward?
  25. 25. Planning your enterprise • Problem Definition • Outline the solution • How will your revenue structure work? • Break the solution down into tasks • Assign the tasks to individuals • Determine what resources you need
  26. 26. Planning your enterprise Some things to think about: • Who do you know that could make this work? • Where will you source the materials / resources you need? • How much money will it cost to start up? Where will your revenue come from?
  27. 27. Any questions?
  28. 28. Aims • To understand ‘social enterprise’ • To go through an ideation process to identify a need that can be solved by social enterprise • To understand the first steps in starting a social enterprise
  29. 29. Final thoughts… • The main thing that stops success of social enterprises is a lack of action • The need and the market demand are equally important in a social enterprise • Now is a great time to start a social enterprise – both in terms of money and advice
  30. 30. Funding sources Small start-up grants are available from the following: • O2 Think Big • UnLtd • University • LEPs • vinspired • Prince’s Trust
  31. 31. Thanks