Success Doncaster

A social enterprise is a business, like any other ‘normal’ business that trade goods and services.  However, what makes them different, is what they do with the profit they make.  This is typically re-invested back into the business or into community projects.  A social enterprise can be set up by individuals, groups or even entire communities and operate in a wide range of industries such as horticulture, recycling, transport and childcare etc.  Here are a few examples of such enterprises - The Big Issue, the Eden Project and Jamie Oliver’s restaurant – Fifteen.

There are a number of sources of funding. These include grants, loans and equity funding. Successful applications for finance begin with a well researched business idea and a good business plan. An advisor can guide you through all funding options and help you with applications.

For as often and as long as you need.

There are several legal structures that social enterprises can adopt. Choosing the one that fits your business depends on how the business is to operate. Professional advice and careful thought is essential before you start as changing the structure at a later date can be costly and time consuming.

Yes as long as the company is structured to enable this.

The basic structure of a Community Interest Company (CIC) is the same as a Company Limited Guarantee. The main difference is that a CIC has additional checks and safeguards such as the asset lock and community statement which safeguard the assets of the company.

If you are not 100% sure that your business will work, don’t do it! Early market research will tell you if there is a desire for your product or service and financial predictions within your business plan will tell you if the social enterprise can be profitable.

There is a thriving social economy in Doncaster which provides a whole range of products and services. Many are members of the Community and Social Enterprise Partnership. To find out more contact Ellen Shipley on 01302 343300 or visit the CSEP website at www.doncastercsep.org.uk.

The Social Enterprise Development (SED) team based at Doncaster CVS are funded by Success Doncaster to provide start-up and mentoring support to social enterprises in Doncaster. The package of support offered by the SED team covers all aspects of the development of a social enterprise; from the initial idea right through to start-up.