Social enterprises “significantly more resilient” on some measures than commercial businesses – with staff more likely to be retained and hired – but threats of unsustainable margins and reduced cashflow loom.
Social enterprises are perfectly placed to nurture the rich connections that emerge when people work together for shared benefit – creating this ‘social wealth’ should be embedded within every social enterprise, argues author Freer Spreckley.
Social enterprises can survive social or environmental ‘bankruptcy’ – but run out of cash, and they cease trading. Financial viability means more than a healthy profit, though: it’s also the key to a better way of doing business.
Your workforce can make or break your effectiveness as a social impact organisation. So how do you build your very own A-team? Expert tips for smart hiring strategies – and some common pitfalls to avoid.
Crunching the numbers from social sector organisations that have closed could help others to predict and prevent financial fragility. From salary spend to income type, financial benchmarking specialist MyCake suggests key questions to explore.