17/7/2013

The Crunch

If you are planning to start a social enterprise, check this program out by Social Traders

David Brookes, the managing director of Social Traders, told _StartupSmart _start-ups had similar needs regardless of if they were a business or a social enterprise.

A social enterprise is fundamentally a business, so they have similar requirements and challenges to business. Funding is often a prerequisite, but our experience is standard, commercial forms of finance can be out of reach for social enterprises and a more patient form of capital required to get these groups off the ground,” Brookes says.

Brookes says the funding is usually a blended or hybrid model that combines repayable loans with donations.

Sixteen places are available this year. This is double the amount of places available last year.

According to Brookes, many aspiring social entrepreneurs underestimate the importance of developing a solid business plan and sustainable revenue models.

We need more of these and focusing more on sustainable revenue models is key for long terms lasting impact.


Humanomics


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