Social enterprise is a term used to describe activity and enterprise that’s good for people or the environment. Social enterprise is about engaging in trading, collaboration or otherwise exchanging resources. Social enterprise brings benefit to a local community, through creating a fair and more sustainable economy or a better environment. Money is important to social enterprises, but making a profit isn’t the aim. It’s what you do with any profits, and how you earn your profits that matters more.
The North Lancashire Social Enterprise network within its terms of reference defines social enterprise in the following way.
“Social enterprise is an activity rather than organisational structure. Being an activity social enterprise is something individuals can also do. Social enterprise operates according to clearly stated aims or values and re-invests any financial profit or surplus to further those aims or values. Social enterprise avoids forms of private ownership such as forming limited or profit distributing companies. Social enterprise avoids activities that damage other people or the environment. Social enterprise should take action to evidence social benefit. Social enterprise activity refrains from excessive personal or private profit.”
Our definition is based on social and environmentally beneficial activities rather than legal structures. On valuing local sustainable action, on social inclusiveness, equity, fairness and equal access to opportunity.
To find out more, go to our information pages and search the links and videos on offer.
Or contact us and through us get involved with local social enterprises.