What is a social enterprise?
A social enterprise is a business that puts people and planet first. They trade like any other business, but exist specifically to make the world a better place.
Social enterprise peak bodies across Australia agree that the following five global standards set by the Social Enterprise World Forum are relevant and useful for Australia too and are collectively embracing them:
1. Purpose: Exists to solve a social and/or environmental problem
2. Operations: Prioritises purpose, people, and planet over profit in operational decisions
3. Revenue: Has a self-sustaining revenue model
4. Use of Surplus: Reinvests the majority of any surplus towards its purpose
5. Structure: Chooses legal structures and financing that protect and lock-in purpose long term.
Generally there are three types of social enterprises:
1) Work Integrated Social Enterprises (WISEs), which train, support and employ people who might otherwise be locked out of the labour market, such as:
Soft Landing Mattress
The Freedom Hub
Jigsaw
2) Organisations that sell goods and services that fundamentally make the world a better place, such as:
Reverse Garbage
Green Connect
