Social Business Plan

A business plan will help you to clarify your idea, identify challenges and allow you to monitor the progress you’re making.

Your business plan is not a static document, it is something you should revisit and update as your organisation grows.

The basic idea behind a Benefit Corporation is that it is a for-profit, non-tax exempt entity that is legally able to emphasize it’s stated social or environmental goals ahead of maximizing profits for shareholders. The Huffington Post reports that as of 2012, 31 percent of those defining themselves as social enterprises were LLCs.

Once you have your plan on paper it will be quick for you to pull together the information requested by funders or investors.

According to the Harvard Business Review, in most U. states for-profit companies can accept donations and nonprofit companies earn revenue, which dispels the myths that a nonprofit can’t make money, or a for-profit venture would miss out on donations. Overall, the consensus among the experts is that the structure of the social enterprise should be decided by what will best serve the organization, facilitate its charitable mission, and, of course, keep it sustainable.

They also note that after the 2007 recession—when things looked grim for the U. “Our best chance to make the world better is to agree that the choice among corporate structures should be made entirely in service of social impact,” says Rich Leimsider, the Vice President of Fellowship Programs at Echoing Green, a nonprofit that invests with social entrepreneurs.

The Social Enterprise Alliance offers this definition: “In its early days, the social enterprise movement was identified mainly with nonprofits that used business models and earned income strategies to pursue their mission.

Today, it also encompasses for-profits whose driving purpose is social.

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