Photo by Annie Spratt on Unsplash

What are the advantages of being a social enterprise?

1. Making an impact: Within each social enterprise there is a social mission, an obvious advantage is that the business is helping the environment and/or people around the world. This benefits an entire community and has a positive impact on the planet.
2. Reaches a larger audience: Customers believe in the potential of creating a positive impact every time they purchase a product. It’s easier to attract a larger audience because the media loves focusing on companies that have a social mission that helps communities in need.
3. Brand loyalty: Customers are also most likely to become life-long consumers of the company if the enterprise advertsises their social mission becuase people feel good about contributing to a community in need.
4. Employees are more likely to stay: If employees feel like they have a purpose to fulfill it starts to feel less like a job and becomes a passion. If employees are passionate about creating social impact they are more likely to stay working for a social enterprise that matches their goals of helping people/environment.
5. Increased creativity: In many jobs creativity is limited but in social enterprises creativity is encouraged. Finding new ways to grow their social mission allows employees to come up with a variety of ideas and creations that makes them feel like a valued member of a team. Creativity in projects can help make the enterprise reach a broader range of communities in need and accomplish goals that they otherwise wouldn’t be able to do without having an open mind to using resources around them.

Anderson, C. (2020, September 29). 5 Business Benefits to being a ‘Social Enterprise’. ShareSource. https://www.sharesource.com.au/blogs/leadership/5-business-benefits-to-being-a-social-enterprise.

Image credits: Photo by Annie Spratt on Unsplash