Charity ~ Non-Profit ~ Social Business
If Everyone Cares is at a crucial stage of its development and during the last few months we have been working on our Charitable Status application. However along the journey we have been aware of the importance of looking at and assessing other options. At this stage there appear to be three main contenders – Charity ~ Non-Profit ~ Social Business.
After reading the book ‘Building Social Business’ by Muhammed Yunus we are exceptionally interested in exploring this avenue for development. Possibly by having the main part of IEC as a Charity – with an ‘arm’ of it being a Social Business.
So What is A Social Business ~
In simple terms, a social business is a non-loss, non-dividend company dedicated entirely to achieve a social goal. In social business, the investor gets his/her investment money back over time, but never receives dividend beyond that amount.*
The Seven Principles of Social Business*
- Business objective will be to overcome poverty, or one or more problems (such as education, health, technology access, and environment) which threaten people and society; not profit maximization
- Financial and economic sustainability
- Investors get back their investment amount only. No dividend is given beyond investment money
- When investment amount is paid back, company profit stays with the company for expansion and improvement
- Environmentally conscious
- Workforce gets market wage with better working conditions
- …do it with joy
I first came across the work of Dr Muhammed Yunus back in 2008. One of my mentors, Mark Victor Hansen, introduced me to his story and his work with the Grameen Foundation and The Grameen Bank. I was fascinated that one seemingly random life event could create such a change. That one experience could generate such a series of actions, combined with determination, thus having a huge positive chain re-action on the lives of hundreds of thousands.
I think it was perhaps the first time that I became acutely aware that each of us makes choices daily. How often do we watch something on television or read an article that tugs at our heart strings – then we just go back to our daily life, as though it was not real or of no real importance! How often do we hear of stories of people who did ‘Step-up’ – yet thought that we could ‘never do that’!
There is the now famous quote ~
One person really can make a difference!
Opps – I have side-tracked again!
Going back to where If Everyone Cares is – This is a crucial time, the foundations of anything are essential. IEC may have started as a dream – yet we know the importance of creating a solid ‘framework’, a structure, that will see it progress into the future, that will allow it to achieve all of its goals and even more.
If you have experience in this area, or know of anyone who has experience in this area – please contact us – Jaki@IfEveryoneCares.org
or leave a comment below ~ share with your friends ~ anything that will help us to help others
and the IEC Team :)
*Source – Yunus Centre – click here
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Yunus Centre – Twitter