What is a Social Enterprise?

 

 

Our projects include initiatives such as building an orchard to provide more fruit to the local community, exploring better education for young people, making a profitable film while raising awareness on asylum-seeking children to name a few!

We call all the organisations we work with ‘social ventures’. Their legal forms vary and might include Registered Charities, Companies Limited by Guarantee (CLG), Companies Limited by Shares (CLS), Industrial and Provident Societies/Cooperatives(IPS), Community Interest Companies (CIC), and Limited Liability Partnerships (LLP).

We make sure that all our social ventures deliver a defined social or public benefit by asking them to do the following:

  • Validate the social and/or environmental benefits that they are trying to create, and state their social purpose;
  • Substantiate the social purpose with their financial commitment to supporting that purpose. For most of our ventures this requirement is set out in their founding deed. In the case of for-profit companies, we would encourage a proportion of the profits to be donated for charitable purposes and that all of the funds raised through FundIt.Buzz be applied for charitable purposes.
  • Monitor and report the social impact they have created with the support from the funding raised through FundIt.Buzz.

With this approach, we believe we can identify and recruit a diverse spectrum of organisations to feature their projects on FundIt.Buzz, and, with your support, they can develop their world-changing ideas. Click here to explore our social ventures and get started!

If you are interested in digging a little deeper into this concept, we recommend the articles below:

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