What is Social Enterprise?
Businesses changing the world for the better
Businesses with heart, social enterprises pursue social, cultural or environmental missions. While profit is not the main goal of the social entrepreneur, effective business-like practices are a critical support for their chosen cause.
Social enterprises identify, evaluate and exploit opportunities to create social value through commercial, market-based activities. They create jobs and generate income like other businesses but they reinvest their profits, or surpluses, to support a social mission.
There is no universally accepted definition of ‘social enterprise’ and no legal definition of ‘social enterprise’ in Newfoundland and Labrador, which reflects an evolving and emerging sector. The centre, as one part of the social enterprise ecosystem, will devote time and effort to help this evolution in Newfoundland and Labrador.