If you are considering a social enterprise, or social purpose business, as part of your nonprofit’s fundraising strategy, make sure your organization ask these questions:
1. What is social enterprise?
Read Earned Income: A Critical Resource for Sustainable Nonprofit Health Organizations to learn the basics of social enterprise and nonprofit earned income.
2. Does the board of directors understand and support the social enterprise?
Bring the 10 Minute Board Exercise – Intro to Social Enterprise to your next board meeting.
3. What are the risks?
For more things to consider, when starting a social enterprise, check out Business Plan Outline for Social Enterprise.
4. How will we fund our social enterprise?
Before your social enterprise is sustainable, you will need to find funding to launch it. Make sure to attend Show Me the Money: How to Fund Your Nonprofit Social Enterprise on Wednesday, June 11th at 3:00pm.
5. Am I ready for a social venture?
Start thinking like a social entrepreneur with Top 10 Tips for Unleshing Your Inner Entrepreneur for Social Good. For more support, check out their BOOST Academy Peer Link-Ups for Social Enterprise ($250).
Have you had a successful social enterprise? Be sure to sign-in on ConnectVA and post your advice or suggestions below! Have a resource to share? Create a free 4Good account to access and share reports, articles, and other publications related to social enterprise.