The paper “ Funding of Social Enterprise in the UK” is a worthy example of the business case study. A social enterprise is a business with more than one bottom line, measuring its performance on more than profit. Social enterprises may have double or triple bottom line measurements - financial; social or community or cultural; or environmental (Ridley-Duff, 2011, 46). As the concept of social enterprise has matured, there has been an increase in the range of forms it can take and the number of definitions used to describe it.
Perhaps the most frequently cited definition is the Office for Civil Society’ s: which refers to a social enterprise as a business setting with mainly social objectives whose surpluses are reinvested for that purpose in the community or in the business, rather than the need to maximize profit for owners and shareholders (Holmströ m, 2007, 78). This sector, therefore, includes a huge range of businesses, from the credit union set up in a community center and serving a housing estate, to a corporation producing renewable energy turbines. A recent survey outlines the importance of social enterprise in the UK outlining achievements in profitability and attitudes to the future.
1.2 Social Enterprise and the Social Investment Market in the UK: An Initial Overview. This study attempts to give an overview of social enterprise funding currently in the UK. It sets out some key dimensions of the social enterprise market including an overview of the role of government and the meeting a range of market needs, investor motivation, recent history, and more. The study seeks to map the activity of social venture capital funds venture philanthropy funds, and other social investment funds against these dimensions (Price, 2009, 89).
Slowly the world economy is recovering. The unparalleled challenges at global, national, and territorial levels demand new strategies and tools to successfully address them. The market and the state cannot, on their own, regulate and solve all problems (Paton, 2003, 57). During the recession social enterprises, in the main, appear to be growing and to be profitable whilst achieving their social ends. Social entrepreneurs’ optimism remains high. Social investment in the social enterprise remains vibrant in the UK, with at least 62,000 social enterprises and a combined turnover of £ 32 billion which equates to 5 percent of all UK businesses, contributing £ 8.4 billion to the UK economy each year.
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RIDLEY-DUFF, R. J., AND SOUTHCOMBE, C. (2011). The Social Enterprise Mark: a critical review of its conceptual dimensions, paper to 34th International Small Business and Entrepreneurship Conference, Sheffield. Winner of 'Best Research and Knowledge Transfer Paper in Conference'
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Support For Social Enterprises: Findings from a longitudinal study". Department for Business, Innovation and Skills (BIS). http://www.bis.gov.uk/assets/biscore/enterprise/docs/b/12-566-business-supportfor-social-enterprises-longitudinal.pdf. Retrieved 22 March 2013.
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[Online], London: Social Enterprise Mark Co. http://www.socialenterprisemark.org.uk/ Accessed 11 February 2010.
PATON, R. (2003). Managing and measuring social enterprises. London, Sage.
PRICE, M. (2009). Social enterprise: what it is and why it matters. Flan.
GIDRON, B., & HASENFELD, Y. (2012). Social enterprises: an organizational perspective.
Houndmills, Basingstoke, Hampshire, Palgrave Macmillan.
HOLMSTRÖM, R., 2007. Funding story: Social enterprises. Third Sector, (491), pp. 21-21.
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