If you’ve had a look around Yaundr, it’s not unlikely you’ve seen the term social enterprise thrown around. A common question that you might have yourself is: What is a social enterprise anyway?
A social enterprise can be defined as a business that is primarily concerned with social objectives. They can still be profitable, but unlike for-profit companies they do not prioritize shareholders, and profits are often reinvested into the program. Social enterprises may receive some grants or funding, but they are not primarily publicly funded like nonprofits are.
The purpose again is to maximize societal or environmental benefit, while also being profitable and sustainable.
To give an example, the Reach Foundation is a non profit organizations that has two revenue streams which can be classifies it as a social enterprise:
- Handcrafted soap made with cruelty free ingredients and biodegradable packaging
- Handcrafted wood products including cutting boards used by some of Canada’s top chefs
First and foremost, the Reach Foundation is a recovery program. They help local youth from Prince Edward Island build confidence through the coaching of essential skills required to make a transition from mental health and addiction recovery back to the workforce or school.
They provide the participants with onsite counselling, mental health and wellness coaching, and equip them with hands-on work experience through Reach’s social enterprises. The Reach Foundation also facilitates work placements for the participants at the end of the program which often turn into job opportunities.
Yaundr and Social Enterprises
Yaundr is Canada’s first social enterprise ecommerce hub. Every vendor on yaundr is either a social enterprise, a nonprofit, or a for-profit company selling goods to fundraise on behalf of a nonprofit organization.
The goal with Yaundr is to provide social enterprises a platform to increase both revenue and awareness by reaching audiences previously untapped. And if nonprofits want to develop a social enterprise of their own, Yaundr has a program that provides consultation and assistance.