A social enterprise can trade on the open market, just like any other business, but its profits are reinvested into socially beneficial projects. These might tackle social problems, boost communities or improve the environment.
A social enterprise could be a limited company, charity, cooperative, sole trader or business partnership. From housing associations to credit unions, leisure trusts to charities, social enterprises are present in a wide range of sectors and follow a wide range of business models.
Our Support for social enterprises page outlines a variety of local and national resources to help Sandwell social entrepreneurs understand the structures available and make the most of their business, so they can boost the benefits for the causes they care about.
Among the schemes we currently feature is the Social Enterprise Support Fund. This is run by the National Lottery Community Fund, alongside five social enterprise support agencies. It offers grants of up to £100,000 to help social enterprises rebuild after Covid-19. If you run a social enterprise and think you could be eligible, visit the website for further information. But don’t delay! The application window closes on Thursday 24 March.
For all-year-round support and information, Think Sandwell is here, with links to funding opportunities, helpful organisations both nationally and regionally, and forthcoming events. If you’re looking to set up or develop a social enterprise in the borough, make our Support for social enterprises page your first port of call!