*social enterprises

Question 1

what is a social enterprise?

Answer 1

organisations that trade and earn income from businesses but use the profits to help their cause (eg homelessness or training for young people)

Question 2

what are the key features of social enterprises

Answer 2

ownership is typically structured similar to the private sector

controlled by ST/Ps/BOD

financed by grants, private investment and donations

have social aims which seek to improve society in some way

Question 3

advantages of social enterprises

Answer 3

Social aims/cause can help attract customers to buy product/use service

More likely to receive grants from the government due to their positive impact on society

Easier to attract high quality employees who want to support the aims/causes

Question 4

disadvantages of social enterprises

Answer 4

due to heavy reliance of grants, levels of funding can be unpredictable

difficult to compete against profit-driven private sector businesses