The Rise of Social Enterprises and Social Businesses

I am fascinated about the rise of “Social Enterprises” and the difference to “Social Businesses.  Both SEs and SBs are focussed on making a profit and maximising social impact.  The key difference between a SE and a SB is that SE uses its profits for solving a social problem as well as delivering returns to shareholders, whereas a SB’s uses all its profits to solve a social problem.

A really great example of a SE in action is Illuminance Solutions https://www.illuminancesolutions.com.au/ who significantly give back to the community by way of provision to disability care providers of software solutions such as AvantCare, for which they do not charge a licence fee.