Investment & Social Enterprise in Wales Alun Jones Diaspora Business & Enterprise Accelerator 21st Jan 2017

What is a social enterprise? Social enterprises trade to tackle social problems, improve communities, people's life chances, or the environment. They make their money from selling goods and services in the open market, but they reinvest their profits back into the business or the local community. And so when they profit, society profits. Social Enterprise UK

What is a social enterprise? What it does How it does it What it does with its profit

When is an enterprise a social enterprise?

Or.......why you don’t want to be a social entrepreneur Characteristics Legal Form Governance Ownership of assets Or.......why you don’t want to be a social entrepreneur

Legal Form Which one is best....? Limited by Guarantee Charitable Incorporated Organisation (CIO) Community Interest Companies (CIC) Industrial and Provident Society (IPS) in the form of a Community Benefit Society (BenCom) Financial Mutuals Limited by shares where all of the shares are owned by one of the above Which one is best....?

The social entrepreneur is accountable Governance Volunteer board Independent decision making Regulatory oversight The social entrepreneur is accountable

Ownership of Assets Not for personal gain Dividend restrictions Asset lock Not for personal gain

And in Return....? Tax breaks – Corporation Tax, Gift Aid, etc. Rates relief Access to skilled volunteers Access to grant funding Support infrastructure

Social Enterprise is NOT Enterprise-lite Not for profit Anti-profit Corporate social responsibility (CSR) Any different to commercial enterprise in quality

What is social enterprise? Social enterprises trade to tackle social problems, improve communities, people's life chances, or the environment. Social Enterprise UK It’s about making a difference for others – that’s why you want to be a social entrepreneur!

Thank you Contact us at - 0800 288 8329 sic@wcva.org.uk @walescva