WHAT IS A SOCIAL ENTERPRISE?

08/12/2020

What Is Social Enterprise?

 

Social Enterprises are businesses that are changing the world for the better. Like most normal business’s social enterprises aim to make a profit but it’s what they do with that profit that makes them different. Social enterprises reinvest or donate to support their communities and the world around them. Here at The Wesley, for the last 70 years, we have proudly supported students in higher education who would otherwise not be able to afford the rising tuition costs of attending the UK’s universities. We believe that financial barriers that stop talented young people from attending university is an extremely worthwhile cause to support.

How Social Enterprises can impact our communities for the better?

 

Social Enterprises exist in most sectors, there are over a whopping 100,000 social enterprises throughout the country that contribute £60 billion to the economy and employ two million people, an example of a social enterprise that you may have seen locally is The Big Issue. The people who you may have seen selling The Big Issue are not beggars, they are micro-entrepreneurs who through a social enterprise have been given a chance to help themselves. The Big Issue launched in 1991 as a response to the growing numbers of rough sleepers on the streets of London, by offering people the opportunity to earn a legitimate income through selling a magazine to the public. One of the greatest aspects of social enterprises is that they give an equal opportunity to marginalised members of society, they give career breakthroughs to staff who otherwise may never get a fair chance to showcase their talents and skills within the workplace.

Lucy Findlay, the CEO of the Social Enterprise Mark says: “Social enterprise is a powerful business model because it uses business to do social and environmental good. It is inspirational because of the difference it makes to society. Some say that starting or running a social enterprise is more challenging than running a conventional business because you’re delivering to a triple bottom line, using profit (or trading) for people and the planet. Profit is important because it enables social objectives to be fulfilled”. A social enterprise is measured by more than just profit, they are measured on environmental and social impact, we call it the power of three. At The Wesley, our commitment to sustainable living and environmentally friendly living has been awarded, we have received the Green Tourism Gold Award for our efforts to become more sustainable and encouraging our guests and visitors to do the same. 

At TheWesley, we have always done what we can to support our local community, although we are a business, supporting our local community and the wider environment is at the core of our ethos. Tim Smith of the Eden Project describes social enterprise as: “A new way of doing business which will, in due course, come to be seen as the way most businesses should operate. It is a movement that gives capitalism a social heart”. We are proud to have been the first economically friendly hotel in the UK and we hope that in years to come other businesses will also take steps towards giving capitalism a social heart. Buying and supporting your local social enterprises provides meaningful corporate responsibility and enables businesses to develop an ethical supply chain.

So why not join us at The Wesley? We are still operating! Call us now to book.