Are You a Social Entrepreneur

 

Social enterprises are revenue-generating businesses that operate with a different bottom line from traditional businesses. A social enterprise may be registered as a not-for-profit or a for-profit business.

However, unlike other business models it has a double bottom line. One is, of course, to make a profit. The other is to generate cultural, social, community economic development or environmental outcomes. Some social enterprise may combine several of these outcomes.

I suggest the most effective business model for the social enterprise is a cooperative. A co-operative is a group of people acting together to meet the common needs and aspirations of its members, sharing ownership and making decisions democratically.

The cooperative business structure lays the foundation for the development of a social enterprise, regardless of the product or service the company is offering. I will use as an example, the cooperative I helped found, the Inspire Cooperative.

The Inspire Cooperative was formed as a worked owned and operated cooperative. The intent was to create an organization that could generate income while operating with a triple bottom line. The triple bottom line is the three Ps people, planet, and profit.

The Inspire Coop provide a range of educational experiences while working with a variety of community partners. The members choose the cooperative business model because it embraces the democratic principles of inclusion, diversity, and cooperation.

The first Coop venture was the Campbellton Community Garden. The Campbellton Community garden was started by the Restigouche Community Inclusion Network. The Garden provides residents of Campbellton, from all walks of life, the opportunity to grow their own food. The Garden also offers free workshops. Gardeners can only use organic products to tend their plots.

In 2016, the Coop became an active partner in the Garden with the goal of taking over the operation in 2017. Since becoming a partner the Coop has started a new program. “Growing Livelihoods in the Garden”. Two of the 40 garden plots will be dedicated to teaching youth how to plant, care for, harvest and market vegetables at our local Sunday market. All funds generated by the community garden are set aside for the Garden's needs.

The Coop's second project is the Campbellton Sunday Market. The Market has created one part-time job (15 hours per week for six months) and offers local artisans, crafters and primary and secondary food producers a location where they can sell their wares. The Sunday Market focus is on developing a strong and resilient regional economy.

If you are an entrepreneur with a good product or service idea and have a cause you believe in then take a close look at setting up a social enterprise.

If you are worried that while you have a great product but lack all the skills needed to start and operate a business then take a close look at the cooperative business model.