13 May What are the Three Main Types of Social Enterprises?
What sets a super successful company like TOMS Shoes apart from every other shoe company? For every pair of shoes or pair of glasses purchased, TOMS gives a pair to someone in need. TOMS has quickly expanded from simply shoes to so much more – they put social enterprises on the map.
TOMS and other social enterprises such as LearningOnline.xyz are so much more than another run of the mill charity. You’re giving what you’re getting, while getting to keep what you got! It can be tricky to figure out if a company is a social enterprise or a charity – according to the Social Enterprise Alliance, there are three main types of social enterprises.
1. Opportunity Employment
Think about companies like Goodwill, who employ those who are underprivileged and help them build their job skills while helping them make a living wage. These companies dedicate themselves to employing those in need, keeping them socially conscious.
2. Transformative Products or Services
This is where a product or service, such as Cudoo.com make a real difference! For every course purchased on Cudoo.com, LearningOnline.xyz donates one to someone in need. Companies such as TOMS, LearningOnline.xyz, etc… all provide a product or service to someone who needs it.
3. Donate Back
There are many companies that would fall under this umbrella, these are companies who donate a portion of their profits to nonprofits that will address basic unmet needs. Pura Vida Bracelets donate some of their profits to 190 different charities.
Social enterprises are everywhere, even if you don’t realize it! Next time you’re out, look around and see how many pairs of TOMS shoes you see or Goodwill stores – you’ve been a socially conscious shopper for longer than you think!
What are some of your favorite socially conscious brands? Let us know in the comments down below.