Benefits of Social Business
Social businesses have been on the rise for a number of years, with more and more business owners wanting to take a step back from the negativity associated with a corporate, money grabbing brands and instead, running a business for the greater good and to help those in need. Here are just some of the benefits of social business.
Makes the Community Better
Many local social businesses help support and aid problems in the local community. Many large charities claim to be doing good and many of them do. But it’s come to light that many well-established charities are taking millions out of the funding to pay their CEOs hundreds of thousands in bonuses. A social business is not run for profit, all proceeds (bar the cost of pay employees a fair wage) is put back into the business.
Creates Opportunities Rather Than Just Giving
Give a man a fish and he’ll eat for a day, teach a man to fish and you’ll feed him for a lifetime.
Charity is a good thing; they give to people who are in need but they don’t always evoke change that can actually improve the situation. With social business, they work to solving the problem, rather than donating to it.
For example, Social Bite is a sandwich shop with a difference. When you buy your food, there is an option to also buy a sandwich for a homeless person. This is a lovely gesture but it doesn’t help the actual homelessness problem. Now, what they also do is train and hire homeless people, giving them a new job and a new start. This helps them get back on their feet and helps them get off the streets. All the money that is made by the business is used to pay the workers and whatever’s left goes back into the business to help in continue to run and expand.
Great Motivation for You and Staff
Working for a social business is a great motivator, not only can you do something you love, you can do it knowing that it’s going to help people, rather than line the pockets of someone who already has enough money.
Allows You to Do Something You Can Be Proud Of
Doing something for the good of others is something to be proud of. Job satisfaction in social businesses rises above most other types of jobs. This is because you know you are doing something that really benefits and changes people’s lives for the better.