First of all you need to identify your interests and understand the needs of your local community. This will help you decide where your time and passion can be used most effectively.
- You may want to start with volunteer work. From this you could develop partnerships with others, enabling you to form a network, sharing skills to help others.
- Maybe you have entrepreneurial ambition? If so, how about setting up your own Social Enterprise. This gives you the chance to create a business where the aims are primarily social or environmental and all profits are ploughed back into the business.
You need to ensure that people are inspired by your idea, so start by talking to your friends. Ask for honest opinions. You may need to adapt or change your idea based on their feedback.
- If you have an activity in mind, get organising, spread the word and get started... the sooner the better!
Get your ideas on paper, remember to include...
You must establish the aims of your business. Remember that in order to contribute to your local community, one of your key objectives is to make a profit.
You need to collect evidence and information that shows your business idea is viable. Ask friends and family for their opinions. Ask them what they as customers are looking for, and whether your idea meets their expectations?
Think about what type of business you want, will it be a limited company or charity? Make sure you research company structures, and choose the one best suited for your social enterprise.
A business plan is crucial to inform you and any potential funders, of the business aims and objectives. Try and imagine your social enterprise over the next two years. Think about everything that may affect your business, i.e. funding, staff and advertising etc.
- Business Link provide free guidance on how to write a business plan - www.businesslink.gov.uk/socialenterprise
Are you confident enough in the area you are entering, would any additional training be an advantage to the company, e.g. accountancy?
- Not sure where to go for help? SETAS, a social enterprise training and support network, may be able to point you in the right direction - www.setas.co.uk
How will you fund your social enterprise? You could consider public funding, local business support or a personal loan through contact with your local Bank Manager.
- UnLtd provide support and funding for local entrepreneurs - www.unltd.org.uk
The first few months can be tough, ensure you have the drive and commitment to follow it through. For help and support try one of the following links:
- Social Enterprise Magazine - Provides news and practical help for people working in social enterprise
www.socialenterprisemag.co.uk
- Communinty Action Network - Learning and support network for social entreprenurs
www.can-online.org.uk
Although it may be tough at first, remember it will be worth it, as you will be rewarding both yourself and your local community.