What is a social enterprise?
There are different definitions of what a social enterprise is, but the common factor is the purpose that these enterprises have to contribute to the common good, while generating an income. Here are some concepts that represent very well what a social enterprise is:
Organizations that address a basic unmet need or solve a social or environmental problem through a market-driven approach. (Social Enterprise Alliance)
A venture that seeks to engage in social impact while also generating revenue from operations (double- or triple-bottom-line return). A social enterprise may be structured as a for-profit or a not-for-profit and may or may not receive grants or donations in addition to revenue generated from operations. A social entrepreneur is one who engages in that work. (Elsdon, Mark. We Aren't Broke: Uncovering Hidden Resources for Mission and Ministry. Eerdmans.)
What is double- (or triple-) bottom-line return
A return on investment that includes a social return (double-bottom-line) or a social return and an environmental return (triple-bottom-line) in addition to the financial return. Sometimes this is also described as returns in people, profit, and planet. I also use the idea of a triple-bottom-line return in a different way in this book. I refer to a social enterprise that is financed with church-owned capital as having a triple-bottom-line return when it (1) produces mission impact through the enterprise, (2) generates financial return for the enterprise and the church entity that is the investor, and (3) produces a second layer of mission impact for the investing organization when its financial returns are also used for mission and ministry. (Elsdon, Mark. We Aren't Broke: Uncovering Hidden Resources for Mission and Ministry. Eerdmans.)