The term ‘social enterprise’ is quite broad. Social enterprises are usually businesses, but ones that exist with the specific purpose of tackling social issues, improving communities, helping people or furthering social aims like improving the environment.
Social Enterprise UK defines a social enterprise as a business that:
- Has a clear social mission set out in a governing document
- Generate the majority of their income through trade
- Reinvest the majority of their profits
- Are autonomous of the state (i.e. they are not run by, or controlled, by governments)
- Are majority controlled in the interests of the social mission
- Are accountable and transparent
At Springboard, we help social enterprises get going by helping people set up Community Interest Companies (CICs). These are special types of company that look to fulfill the aims set out above. Springboard Chester is a CIC. We have no shareholders because we look to reinvest as much money as we can into starting new projects.