Running a social enterprise? We’re here to support your growth - Go Succeed

Running a social enterprise? We’re here to support your growth

April 26, 2024 | Blog | Social

All businesses need money to grow or remain sustainable, but it’s not all about financial returns. At Go Succeed, we are as committed to supporting social enterprises as we are to any other business, and have a range of support to help.

Perhaps you’re thinking of establishing a social enterprise for the first time. The first step is understanding what makes a social enterprise different from other organisations.

Put simply, they trade to address social problems, improve communities, people’s quality of life, or the environment. Each has a social mission at their heart with all profits reinvested towards achieving these goals.

And while your social mission might set your social enterprise apart, your organisation will have more in common with other businesses than it has differences.

You’ll still need a business plan, a clearly defined set of goals, profit targets, staff and HR policies. You will still have considerations around the leadership and governance of your organisation, and how the business is structured.

The most recent analysis of the social enterprise sector in Northern Ireland estimated that it provides employment for around 25,000 people and is worth around £625 million a year to the local economy.

The sector is actually made up of businesses in almost every industry providing employment for some of the most vulnerable groups in society.

Some of them have become household names such as Madlug which is now the UK’s leading purpose-driven luggage and backpack brand, or the Now Group whose services supporting people with learning difficulties and autism into jobs is now expanding to locations across the island of Ireland.

And just like other businesses, the entrepreneurs that drive social enterprises are every bit as focused on growth and expansion.

At Go Succeed, we can link you with local experts within your council area that can help you realise those ambitions.

Our programmes, delivered totally free of charge, support you with events and masterclasses, online business plan resources, access to grant funding, one to one advice and support and peer networks.

Find out more by completing our webform or by calling us on 0800 027 0639.