We describe ourselves as a ‘Profit fr Purpose’ organisation. Put simply we aim to make a profit for the purpose of reinvesting it in new projects and to cover our business running costs. This is a form of social enterprise.
The definition of a social enterprise can be found on the Social Enterprise UK website.
We fit all of the requirements to be a social enterprise and we are working on getting membership to the Social Enterprise UK group.
The Social Enterprise UK state that a social enterprise is;
- A business that aims to generate their income by selling goods and services, rather than through grants and donations
- Are set up to specifically make a difference
- Reinvest the profits they make in their social mission
This is exactly what we do, what we believe in and what we promote.
The requirements from Social Enterprise UK are that we;
- Have a clear social and/or environmental mission set out in their governing documents
- Generate the majority of their income through trade
- Reinvest the majority of their profits
- Be autonomous of state
- Be majority controlled in the interests of the social mission
- Be accountable and transparent
Again we fulfill all of these requirements, apart from that as a start up business we do not at the moment generate most of our income through trade. However we have a plan and business model that will enable us to in the future.
All of the requirements for us to be a social enterprise are clearly stated in our Articles of Association, and we have a Supervisory Board that oversees our work. So we take the idea of social responsibility and self governance very seriously, and we believe we have a business structure to give people confidence in what we are doing.