Profit matters in every business. If a business is on a mission to maximise profit, sharing the benefit beyond the business founders, employees and shareholders may not be a priority.

Profit-for-purpose rather than the alternatives

More tellingly, the hidden costs of doing business – the social and environmental impacts – are rarely factored into the enterprise model.

This is why social enterprises are so important. Unlike profit-driven businesses, or charities that depend entirely on government funding or fundraising, social enterprise provides an option that combines the best of both worlds.

Social enterprise is about commercially viable businesses generating income and creating jobs to respond to entrenched social or environmental issues. Some call this ‘profit for purpose’.

In fact, many social enterprises are intentionally designed to respond to the wicked problems and inequities that are a consequence of ‘business as usual’.

The birth of a new leadership body for social enterprise

The South Australian Social Enterprise Council (SASEC) supports more than 60 member organisations representing a workforce of some 310 employees and 260 volunteers. The inaugural elected board of SASEC is busy growing its membership base. (It’s only $20 to join as a social enterprise or as an associate member.)

Social enterprise sector growth is accelerating in Australia. SASEC’s formation brings South Australia into alignment with other state-based peak organisations that form the Alliance of Social Enterprise Networks Australia.

Globally, social enterprise is bringing together international governments, NGOs, industry groups and, of course, diverse communities. Each year, leaders in the global social enterprise community gather online for the Social Enterprise World Forum (SEWF), with Nova Scotia, Canada hosting this year (2021).

Australia is set to host the Social Enterprise World Forum

Next year is generating extra excitement here in Australia, as Brisbane (with plenty of help from its interstate friends) won its bid to host the 2022 SEWF in Queensland next September.

With international borders opening up, the 2022 forum promises enormous opportunity for the Australian community and its social enterprises to engage with some of the world’s most exciting businesses and institutions. Satellite events are in planning for the months leading up to the forum, with Adelaide playing host to an education-focussed forum in autumn 2022, with details to be announced in the new year.

Work continues to forge partnerships across the public, private and community sectors to enrich and generally make life easier for social entrepreneurs, from one-person startups to nationally and internationally active organisations.

Article originally published in CityMag.