(Social Enterprise Definition)
Selnet subscribes to the definition as detailed below. Organisations requesting membership and / or services will be asked to demonstrate that they comply with these characteristics.
Social Enterprises will have:-
Organisations that have explicit social aims such as job creation, training or the provision of local services. They have ethical values. Their profits are principally reinvested to achieve their social aims. Increasingly social enterprises measure their social impact.
Organisations are directly involved in business activity, supplying goods or services to a market and earning incomes as a result.
Many social enterprises are also characterised by their social ownership. They are autonomous organisations whose governance and ownership structures are normally based on participation by stakeholder groups (e.g. employees, users, clients, local community groups, social investors) or by trustees or directors who control the enterprise on behalf of a wider group of stakeholders. They are accountable to their stakeholders and the wider community for their social, environmental and economic impact. Profits can be distributed as profit sharing to stakeholders or used for the benefit of the community.