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Posted by Sarah Brown on 23 Feb '24
Social enterprise now and the future
Social Enterprises are part of the growing "social economy". The infographic below gives a snapshot of the state of the sector.
You can get the full report Social Enterprise 2024 with more data and the priorities for the sector by emailing sarah@inspire2aspire.co.uk with Social Enterprise 2024 in the subject line. The report includes tips on how to capitalise on the trends identified.
We have been establishing social enterprises since the early 1990s, and we possess a deep understanding of the challenges and opportunities these organisations face. Our proven techniques, honed through a robust blend of commercial, voluntary, and statutory experiences, are designed to create and support successful social enterprises.
We have identified several critical issues that can undermine a social enterprise, and it is essential to address them head-on:
- Insufficient funding to sustain the start-up period until the enterprise reaches viability
- Excessive demands placed on a small number of individuals, typically volunteers
- A lack of sales and marketing expertise
- An overemphasis on social objectives at the expense of income generation
- A failure to leverage existing knowledge and contacts, opting instead for untested approaches
- Ambiguity around the social impact being generated
To ensure success, social enterprises must confront these challenges decisively and strategically.
Find out more about social enterprises including the different legal structures such as a CIC here
Tags: social enterprise