Social Enterprise
What Is A Social Enterprise?
"A business with a social purpose, that through its activities generates surpluses to re-invest in sustainable activities within an accountable framework."
The key factors being that it is a sustainable business operated with the intention of making surpluses which are re-invested for the benefit of its social mission. An accountable framework existing to audit and control the operation in the three main areas of social outputs, environmental impact and financial probity.
The reinvestment is ensured by means of an "asset lock" which prohibits distributions to shareholders. Ths ensure surpluses when earned, are retrained within the enterprise to reinvest.
SCA Group As A Social Enterprise
The SCA Group's social purpose is to improve peoples' lives by providing innovative solutions to health and social care needs. Trading for over seventeen years, the SCA Group derives 99% of its income from "trading" and is one of the most mature social enterprises in the UK.
With a well established constitution, experienced Board and well defined social and environmental audit processes in place, the SCA Group treats each element of the triple bottom line" with equal importance.
The "asset lock" is established throgh its constitution as an Industrial & Provident Society with charitable status, regulated by the FSA.