By Kim Smythe
Social enterprise – what’s that?
There’s a new business movement coming along. It’s called ‘social enterprise’ and it’s coming to a corner store (or other business) near you. Get ready to compete – or collaborate.
A social enterprise is defined as a business organization – mainly non-profits — whose mission, conduct and revenue stream address a cultural, social and/or environmental need as their principal goal. Profits are targeted to the common good through sales of products and services. Many of these businesses also offer jobs to people who face barriers to mainstream employment.
Local examples include Code Brew, the fantastic coffee kiosk in the lobby of Nanaimo Regional General Hospital. They’ve opened a second location in the Millstone Medical Centre and have plans for more soon. Bought something at a thrift shop? Been to the Nanaimo Recycling Exchange? You’ve done business with a social enterprise which contributes millions to the local economy.
Social Enterprise Catalyst is an event that celebrates this movement. It highlights available resources to support the development and growth of local, social enterprise-based businesses. Catalyst partners are all key parts of the social enterprise eco-system including credit unions, banks and the financial management sector, foundations, mentors, educational institutions, sector specialists and consultants, chambers of commerce and the provincial government.
The first Catalyst Gala was held in Victoria in April 2014 where a Dragon’s Den-style event saw three non-profit social entrepreneurs awarded a total of $50,000 in cash and services to help boost their success. A trade show and workshops were associated with the event. Attendees were invited to a day of learning at Royal Roads University to follow up on discussions.
The Catalyst events are moving to Nanaimo with the main event held May 20 at the Port Theatre. We’ll be contacting non-profits and co-ops to build awareness around opportunities to participate and to apply to compete at the climactic Catalyst event. Got any ideas on how to help this work? Want more information now on social enterprise or the Catalyst events? Please call the Greater Nanaimo Chamber of Commerce at 250-756-1191.
Kim Smythe is CEO of Greater Nanaimo Chamber of Commerce.
