A social enterprise is a business which can measure social impact and will re-invest profit for the good of the community.
This element of the programme is delivered by a specialist Social Enterprise Business Advisor to raise awareness of Social Enterprise and support our existing social enterprises in the borough.
Included will be awareness events around the pros and cons of setting up a Social Enterprise and different legal structures including co-operatives and mutuals.
Tailored one to one diagnostic sessions to determine that the viability and organisation structure supports your proposed social enterprise and continued support to enable you to start.
For existing Social Enterprises specialist support with growth and job creation to enable individuals/groups make informed choices with their development needs
The Business Factory has been offering Social Enterprise support now for a number of years. During the years 2009 to 2012, six social enterprises were set up.
In 2012, North Tyneside Council took the decision to include a separate bespoke Social Enterprise programme within the main programme, and procured a specialist organisation to deliver it.
The results were excellent and over 40 Social Enterprises were set up with a combined turnover of nearly £1,000,000 in their first year.
The social enterprise package generally includes a mix of:
- Business ideas generation
- Confidence-building and motivational activities
- Market research
- Business planning
- Advice on legal structures
- Legal registration
- Business Case development & preparation
- Advice on business management
- Help with finance and funding sources
- Help with marketing and publicity
- Feasibility Studies
- Health & Safety
- Tax and NI calculation
- In-work benefit/tax/debt management guidance
- Financial management and forecasting
- Applying for services and utilities
- Purchase of equipment and stock
- Referral and/or sign-posting to other support providers
- Aftercare service – to promote sustainability