Third Sector Flashcards
Explain what is meant by the Third Sector in the UK and how third sector organisations are different from other kinds of business.
‘Third sector’ is a term used to describe the range of organisations that are neither public sector nor private sector.
- The third sector is not about making a profit but rather making a difference to society or improving a community.
- Third sector organisations generally provide a service, rather than supply products.
- They often tackle social problems.
- They often support a specific cause, eg a children’s charity such as Save the Children.
- Their aims often include raising awareness and promoting a cause.
- Generally, surpluses or profits are reinvested to support the cause.
- They aim to operate ethically and be socially responsible.
Give examples of different types of third sector organisations in the UK.
Charity, Community group and Social Enterprise are different forms of third sector business. Oxfam, Save the Children rugby clubs, golf clubs Social Bite are examples of such organisations.
There has been a significant increase in the growth of social enterprises in the past decade. Describe a social enterprise giving examples of this type of organisation
A social enterprise is an organisation that exists with a clear goal to help the community but runs the organisation like a business. All profits are reinvested back into the organisation. They benefit from specific funding and grants to help tackle social problems. Examples – Social Bite, Kibble and the big Issue.
