Are you a Social Business?
» » » Are you a Social Business?

Are you a Social Business?

posted in: kindness | 0

Are you a social business? What does this mean to you? Do you have some aspect of it to give back or contribute to your community?

pay it forward

Social Business – A for-profit business established for the primary purpose of fulfilling a social mission. Social businesses either dedicate a significant portion of profits to a social cause, or the business operations themselves address a social issue. The key difference between a social business and a traditional business is its reason for existence. A social business is formed primarily to solve a social problem rather than to generate income for its owners, even though the business may be quite profitable.

As I did some more research, I was reading or which Dave stated in his summary that, Social businesses, could be a hybrid. As I do expect investors to invest in my business, I also have to respect them giving or investing and their expectations of what their return will be.

If our economy continues the and return on people’s investments is low, I did would feel that I would like to give them a better return on their investment, otherwise why would they? Simply for a tax write off?

Of is the best way just be a regular business, and have a Philanthropy or do good in giving, like 1-5% of the profits? This is what most companies end up doing, for a variety of reasons. Just for doing Good, also for what they are passionate about and tax reasons too!

Perhaps a purpose driven business is what we all should aim for. Here’s some ideas:

  • Employees become shareholders
  • Doing good is a business strategy
  • Be sustainable for grow
  • Having a triple bottom line

To read more about Cause Capitalism check out this blog.

Mari-Lyn Harris

Currently you have JavaScript disabled. In order to post comments, please make sure JavaScript and Cookies are enabled, and reload the page. Click here for instructions on how to enable JavaScript in your browser.