Introduction to SEEB (1/3) — Bridging To The Future

One of Bridging to the Future’s approaches to achieve economic independence is SEEB (Social Entrepreneurs, Social Enterprises and Social Businesses). For us, SEEB is integral to economic independence through entrepreneurship, employment and education to achieve sustainable local development.

What is the difference between an enterprise and a social business or enterprise? The key point is that a social business is still a business, and must therefore first make a profit. How they then use the profit is where the difference lies. SEEBs reinvest profits into local communities, give living wages to employees and create new approaches to deliver social good. Crucially, it operates ethically, makes money ethically and spends its profits ethically.

In the UK, the most up-to-date estimates suggest that there are approximately 68,000 SEEBs contributing £24 billion to the UK economy. This could mean that perhaps 5% of all businesses in the UK are SEEBs — a very positive thing! In addition, almost any business can be a SEEB: here in the UK we have examples such as The Big Issue Foundation, the Co-operative Group, the Eden Project, Cafedirect and the John Lewis Partnership. These businesses have both a social and business mission and deliver social, environmental, economic or political good.

Let’s take the example of The Big Issue Foundation, a financially independent charity that employ vendors (normally the homeless and disadvantaged) to sell current affairs magazines. They acknowledge that “achieving something for yourself is 100% more empowering than having it done for you” and so each vendor makes their own profit/loss depending on how many magazines they can sell.

The Big Issue is by no means alone in this regard. Social businesses and the social economy is taking root across many communities across the world, with strong centres in San Francisco, London and Birmingham, but also with significant examples in Italy, India and Brazil, amongst others.

Read Part 2, or skip to Part 3.

Photo: ceridwen, geograph.org.uk under CC BY-SA 2.0

DT