Social Enterprise 5 – Raising resources through Social Enterprises
Nick Priggis continues his series on Social Enterprises by looking at funding. One of the key components of a successful Social Enterprise is, to my mind, to release resources through profitability. In order to become profitable businesses often require a considerable amount of investment. How a Social Enterprise develops its financial strategy will also affect its sustainability and its ability to reinvest its profits. A Strategic Financial Plan An interesting aspect of a Social Enterprise is that it has social transformation at its heart. Whatever the legal set up for your Social Enterprise, you will be able to access grant-funding if you can demonstrate the public and charitable benefit. This type of funding provides Social Enterprises with a very low risk form of investment. However, it also depends on the…