What is a Social Enterprise?
A social enterprise is a business that serves the community by providing a product or service that helps local people. Essentially they should be operated by local people, for local people with the overall aim of improving the quality of life in the area. They should also create local job opportunities and improved access to services, training and development.
The enterprise must have primarily social objectives with all the profits reinvested back into the business for the benefit of employees, local consumers or the community as a whole.
What forms can a Social Enterprise take?
A social enterprise can take many forms and in Gateshead individuals or groups of residents have set up businesses including:
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Healthy eating clubs;
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Food cooperatives;
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Child care schemes;
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Out of school clubs.
This is an exciting and growing area and in Gateshead there are currently more than 55 social enterprises employing around 250 people across the borough. This type of business is increasingly helping to develop the community in all sorts of ways, such as
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Local job creation;
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Providing services that improve people's lives;
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Solving social problems;
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Neighbourhood regeneration.
The Government has recently introduced an entirely new type of legal structure, called the Community Interest Company or CIC s, to make it easier to set up a businesses designed for the public good.
If you’re interested in setting up a social enterprise or simply have an idea for positive change, contact the economic development team for up-to-the-minute advice and support.