Profit for Purpose
What is it?
Social Enterprises are a band of businesses that exist to create a fairer and more sustainable world. They must do three things:
- Have a defined primary social, cultural or environmental purpose consistent with a public or community benefit
- Derive a substantial portion of their income from trade, and
- Invest efforts and resources into their purpose such that public/community benefit outweighs private benefit.
Why did we do it?
Our certification through the Social Traders network requires us to redistribute 50% of profit towards charitable initiatives that align with our purpose. We had already been offering pro-bono and low bono services to community organisations; the Social Enterprise certification formalises this work by providing a framework for measuring the impact of our financial investments.