Social enterprises can communicate social value more effectively

A report released today by New Economy suggests that social enterprises could improve the way they articulate their products, how they add value and achievements in order to take advantage of commercial opportunities.

The report, ‘Commercialisation for Social Value’, has been supported by the European Union, in order to increase understanding and raise awareness of the various challenges that social enterprises currently face in the UK, Spain and Italy.

Partners from these countries engaged with the project as they recognised the challenges social enterprises are currently facing as well as sharing an interest in supporting the development of the sector.

It suggests that whilst social enterprises are often good at describing their services and demonstrating their passion to help others, greater clarity is required on what products and services are actually being offered and how they benefit clients and commissioners.

The findings of the report will be used to help social enterprises to develop their business models, as well as to communicate their social value and engage with potential customers in the private and public sector. This can allow them to better integrate supply chains as well as improve and grow their business.

Alison Gordon, director of project development at New Economy, said: “Successful social enterprises are a key part of our economy and are critical to the kind of ambitious sustainable, diverse business base we want in Greater Manchester.

"Social enterprises can provide targeted and specialised services to commercial and non-profit markets that meet buyers’ needs more cost-effectively than bulk generic contracts.

"We have some great examples of social enterprises here in Greater Manchester doing excellent work- but there is much more that can be done.

“This project has identified some challenges for social enterprises, but has also identified significant opportunities.

"In most cases, social enterprises and their potential buyers are keen to work with each other to share information about market need, improve products and services and tailor communication.

"By becoming better businesses, social enterprises can maximise their ability to improve social outcomes.”