Starting a Social Enterprise resources

Amanda Johnston from SENI gave an overview of What is A Social Enterprise, what is the differences between operating as a charity and as a social enterprise and whether community groups/charities should consider starting a trading arm of a social enterprise and the differing legal structures you can be operate as, including the importance of having a board.  

Three other speakers spoke about their experience starting and running social enterprises:

• Chara Clarke – You Glow Girl
• Jacinta Linden Community  – Bolster (formerly Space NI)
• Narita Woods – Fox & Bean

Reasons to make it legal

• Limiting your personal liability - If your business gets into debt you personally may be liable.
• The legal framework you choose helps create your identity.
• Your legal framework will set the rules and regulations about how you trade

Things to think about

• Need to have clear aims for their business
• What are your mission and objectives?
• How are you going to be financed?

Reasons to start a social enterprise

• Someone has experienced or identified a problem they want to solve (and then solve it for other people)
• All businesses should operate this way, and put people and planet on an equal footing with profit
• Charities needing to earn more of their money to survive and thrive
• Not wanting to rely on handouts or donations or volunteering to be sustainable
• Being inspired by examples of successful social enterprises
• See a gap in the market that they could income generate from

Things to consider when starting a social enterprise

• Charity to social enterprise is changing the funding model
• Decide on your legal structure
• Find support and Get a mentor either from a support programme or someone you admire and respect
• Finding and keeping best people – skills of board and staff team very important.
• Business approach
• Finding investment and funding

For more support and help go to the SENI website