social enterprise

A social enterprise is an organisation that applies commercial strategies to maximise improvements in financial, social and environmental well-being. Profit made through fundraising or the sale of products is reinvested in the organisation's mission, making them more sustainable than a non-profit organisation that may solely rely on grant money, donations or government policies. A social enterprise's main purpose is to promote, encourage, and make social change in a financially sustainable way. Unlike conventional businesses, social enterprises embed social or environmental goals into their core objectives while maintaining financial sustainability. They aim to create social value while generating income, reinvesting profits into their mission rather than relying solely on philanthropy. Social enterprises can provide income-generating opportunities to address basic needs, particularly for people living in poverty. They combine financial viability with a social purpose and can expand or replicate their models to increase impact. They are often considered more sustainable than non-profit organisations, which may rely heavily on donations or government support.