Video : What is a social enterprise?

You asked, so I’ll answer – What is a social enterprise?

Social enterprises are businesses that have a social or environmental purpose.

Another key thing about a social enterprise is that it is still a business and it needs to generate profits and be sustainable. In order to do this the social enterprise needs to have a product or service that it can trade and make profits from selling.

Social enterprises reinvest the majority of the profits they make back into the business to deliver more of their social or environmental purpose. When we talk about the social or environmental purpose for a social enterprise this is at the heart of what they do and it’s not an add-on like you see sometimes with other businesses.

Video : What is social value?

You asked, so I’ll answer – What is social value?

Social value describes the wider social, economic and environmental benefits that derive from an organisation’s work or from the commissioning of services or the purchasing of goods.

Social value is focused on getting more value from the money we spend. It enables us to maximise the positive impact our work and procurement has on local communities, people and the environment.

Video : What’s the difference between social value and social impact?

You asked, so I’ll answer – What’s the difference between social value and social impact?

Let’s start with social value:

Social value describes the wider social, economic, and environmental benefits that derive from an organisation’s work or from the commissioning of services or the purchasing of goods.

Social value is focused on getting more value from the money we spend. It enables us to maximise the positive impact our work and procurement has on local communities, people and the environment.