YCC Magazine

Vol.3 Issue 1

Issue link: http://digital.imedianorthside.com/i/995393

Contents of this Issue


Page 18 of 33

18 S ocial Enterprise is a term being used more often in economic conversations today. Some believe it is the future of the business world! Could it also be the future of youth organizations and other non-profits? Social Enterprises are businesses with primarily social, environmental or cultural objectives. They are typically designed to fill a gap in existing services that cannot be provided by the public or private sector. Social Enterprises focus on benefiting society in some way while simultaneously being self-sustainable. Involving Social Enterprise in non-profits allows for the associations to stand on their own and become less reliant on grants or traditional fundraising. Having a way to make a profit that can be invested back into the organization is a great way for youth organizations to operate! Social Enterprises can have a particular focus on a need found in the local community. Depending on the venture, the benefit will be seen throughout different areas of the community; including the youth. There are many different ways youth can get involved with Social Enterprise as well. They can assist in planning and operation of the businesses while reaping the benefits! Social Enterprises can start from a business which finds itself meeting higher standards of social or environmental performance. It can also start from a charity or non-profit who are considering engaging in an earned income that they can reinvest. Individuals experienced in Social Enterprise often use a term Triple Bottom Line Framework, which is an accounting framework that incorporates three dimensions of performance: social, environmental and financial. The framework is also known as The Three P's: people, planet and profit. When considering doing business an individual can evaluate how they will affect society SOCIAL ENTERPRISE: A New Future for Youth Organizations?

Articles in this issue

view archives of YCC Magazine - Vol.3 Issue 1