Igniting Social Change through Social Enterprise

By Dr. Kim Carter

A social enterprise, more commonly known as an organization that employs various strategies to maximize the well-being of our society both financially and environmentally. Social enterprises, profit or nonprofit, endeavor to accomplish such through behaviors that support positive social impact or change. As such, social enterprises aim to meet both business and societal purposes. 

What sets social enterprises apart from businesses in general is their aim to make positive social changes. It is important to note that organizations that support social enterprises may be included in this group as well since they promote, support, and encourage the activities of social enterprises. Social enterprises are known to financially support the efforts that addresses disparities among persons and their communities. Another identifier of a social enterprise is their self-sustaining ability to maintain financial solvency as well as their ability to duplicate their model structure into other geographic areas. 

Social enterprises have both a philanthropic and cooperative footprint domestically and abroad. The social enterprise model has been widely simulated and/or adopted worldwide as the most efficient model for social change. Several key factors in the emergence of social enterprises is the decline in private and public funding, making competition stiff for the few dollars that are being distributed, and the need for (and access to) enhanced social services (Smith, et. al, 2012). Where do we fit in? 

Glad you inquired about what your role is with igniting social impact through social enterprise. In a more organized setting, you can participate in owning a collective of shared office space for shared businesses, Obtain a board seat at your local credit union. Or, establish your own credit union. If establishing a new business entity isn’t what you are interested in, you can provide a financial contribution, or volunteer at a social enterprise such as a community center, community garden, etc. You can become a community activist or generate engaging conversations that inspire social change at a Ready community action circle. The primary objective of igniting social change through social enterprise is to generate income for reinvestment into the community. I leave you with two questions designed to ignite your path for social change. What will you do today and who (or what social enterprise) will you connect with to ignite social impact through social enterprise?

Reference

Smith, B. R., Cronley, M. L., & Barr, T. F. (2012). "Funding Implications of Social Enterprise: The Role of Mission Consistency, Entrepreneurial Competence, and Attitude Toward Social Enterprise on Donor Behavior". Journal of Public Policy & Marketing. 31(1): 142–157.