Enterprising sorts
28 July 2008 | Steve Bagshaw
Politicians have, of late, been extolling the virtues of ‘social enterprises’ – that is, companies set up specifically to tackle a social or environmental problem rather than to maximise shareholder value.
And buyers say there are advantages to using them: they can assist with hitting CSR targets; have commercial nous; and have a potential advantage over ‘third-sector’ organisations because they don’t rely on funding or subsidies to be able to deliver products or a service.
But in the SM feature ‘Profit with a purpose’ buyers are warned to do a financial and commercial evaluation and ensure the supplier has the capacity to do what you need – or can build that capacity – as well as checking they do create the social good they claim to do before doing a deal.
What have your experiences been with social enterprises?
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