Examples of Social Enterprises Widely Known:
Social enterprises are one-of-a-kind businesses that stand out from the crowd, balancing profits, social impact, and environmental responsibilities - a concept known as the "triple bottom line." Unlike traditional companies, their focus is less on maximizing shareholder wealth and more on creating positive change for society and the environment.
In a similar vein, unlike non-profit organizations that rely on donations and grants, social enterprises operate commercially, generating income via the sale of goods and services. They utilize their profits to fuel their mission and create lasting benefits for the community and the planet.
Example Social Enterprises
734 Coffee
734 Coffee is a trailblazer in the social enterprise world, supporting Sudanese refugees displaced by war and various hardships. Based in the Gambela region (7 ̊N 34 ̊E), this business partners with local farms to harvest and sell their coffee beans in the United States. Proceeds from the sales fund education scholarships for Sudanese refugees.
ANA by Karma
ANA by Karma empowers Bhutanese craftswomen by helping them produce and market handmade scarves. This social enterprise then channels its profits into supporting women's and community development programs in Bhutan. Shoppers can find ANA by Karma's products in stores and online in countries such as Bhutan, Hong Kong, China, and Malaysia.
Baron Fig
Baron Fig, an American-based company, specializes in manufacturing high-quality, eco-conscious "Confidant" notebooks. For every notebook sold, Baron Fig plants a tree to promote environmental awareness. Their offerings include various notebook options such as Blank, Ruled, or Dot Grid. fascinatingly, Baron Fig is 100% employee-owned!
Belu
In the United Kingdom, Belu supplies water with a minimal carbon footprint to customers like hotels and restaurants. This social enterprise aims to make a difference by investing over £5 million in providing clean water, proper toilets, and good hygiene to communities through WaterAid. Belu also utilizes recycled materials for its water bottles to encourage sustainable practices.
Better World Books
Better World Books is a social enterprise based in the United States that sells books online and collects them from sources like college campuses, libraries, and bookstores. By doing so, they work towards literacy initiatives and support libraries worldwide, enriching communities with knowledge. Additionally, they donate books that cannot be sold to at-risk communities within the U.S.
Successful Strategies of Social Enterprises
Clear Mission
Social enterprises establish a well-defined purpose that aligns with their social impact goals.
Innovative Model
Successful social enterprises possess novel approaches to tackling longstanding problems, often proving adaptable for different communities and geographies.
Scalability
Models that are replicable or can be expanded are more likely to bring about significant social changes.
Financial Sustainability
To achieve their goals, social enterprises require income to support operations and growth.
Community Engagement
Social enterprises involve the communities they serve in shaping their services and programs, ultimately fostering stronger connections and greater impact.
In the sphere of education-and-self-development, social enterprises like 734 Coffee offer unique financing opportunities to support causes such as education scholarships, while businesses like ANA by Karma empower communities by reinvesting profits into development programs. Meanwhile, within the realm of the financial sector, Baron Fig and Belu demonstrate a commitment to environmental responsibility by planting trees or minimizing carbon footprints, respectively. Successful social enterprises, such as Better World Books, exhibit a clear mission, innovative models, scalability, financial sustainability, and community engagement to drive positive change.
