In the modern economy, it’s no longer enough for businesses to simply offer value in exchange for money. Today, people are more conscious than ever of how their purchases impact society and the world around them. People are looking beyond standard for-profit businesses and instead supporting companies that offer a clear benefit to the world at large. In this post, we will introduce you to social benefit businesses (also called “social enterprises”). We’ll explain what social benefit businesses are and why you should support them if you care about making an impact on society through your spending.
If you support these kinds of businesses, you can call yourself a part of the Social Enterprise Movement!
What is a social benefit business?
A social benefit business is a for-profit organization whose primary mission is to benefit society as a whole rather than to maximize profits for shareholders. Some of the most common types of social benefit businesses include non-profit organizations, B-corporations, certified B-corporations, and hybrid-benefit businesses. When you shop at a social benefit business, you can be sure that your purchase is helping to make the world a better place. Social benefit businesses are responsible for a huge portion of jobs in the modern economy.
These types of businesses are also on the rise, with more and more companies choosing to adopt a social mission.
Why support social benefit businesses?
Social benefit businesses gain support not just from customers, but also from investors and employees. This support helps these businesses to thrive and grow, which can ultimately lead to greater prosperity for everyone. Social benefit businesses often face lower barriers to entry, easier access to capital, and greater public support than for-profit businesses. This means that they can better meet the needs of the communities they serve, which can be especially useful in disadvantaged or underserved markets.
As social benefit businesses grow, they can create jobs, produce more sustainable products, and contribute to the common good. Find out who is trying to make a difference in an area that is important to you and help them in their efforts!
Ways you can support Hearth & other social benefit businesses
- Invest in social benefit businesses. Many social benefit businesses rely on investment from private individuals. If you have a little extra money to contribute, consider investing in a social benefit business. HeARTh, and her sister not for profit DMG, are very close to acquiring properties that will provide housing, jobs, and sustainability income to do more good! We are looking for investors to fill the last bit of capital needed for this project to go ahead. An investment in housing is a great tax shelter with strong sustainability and return on investment, socially and economically!
- Purchase from social benefit businesses. When you shop at a social benefit business, not only do you get a great product or service, but you’re also making an impact for the good. HeARTh/DMG have begun and are developing some businesses that are providing job experience, skill building, and a paycheque to individuals with barriers! Become a customer and let us help you and help the community too! There are other organizations also running social enterprises. Give them your business and share their info to your networks!
-Sponsor a social benefit business. HeARTh runs day programs that give our clients and others in the community something to do during the day in a safe and welcoming space. It takes space, staffing and supplies to provide this service. Consider sponsoring a monthly membership to the B.E. Club so someone else who needs it can enjoy it! Who else in the community is trying to fill a gap that you want to see filled?
- Volunteer for social benefit businesses. If you want to contribute to a specific cause but don’t have money to donate, consider volunteering your time. This way, you can help out your community and support a social benefit business at the same time. HeARTh and DMG can always use skilled and non skilled assistance as we develop our spaces, create and run our businesses, and grow our programs and projects. And other organizations in the community can use help as well.
- Advocate for social benefit businesses. If you’re part of an organization that has a direct line to lawmakers, consider taking up the cause of social benefit businesses. They can use some of the breaks they are not currently entitled to because they don’t fit into an outdated “mold” and criteria. As well, social benefit businesses that provide social supports, that exist to make the lives of barriered community members better, and the people who work in these businesses, are underpaid and overtaxed.
Join the movement
The social enterprise movement is gaining momentum, and it’s not too late to get on board. When we all support social benefit businesses, we can create a better world. Here are some of the ways you can support HeARTh Social Profit Company and DMG:
- Sponsoring a B.E. Club membership - Donate supplies and recycled items - Purchase a monthly subscription to Home to Hope - Join our online community (follow us on FB, IG, TikTok, and subscribe to our newsletters) - Share our information with your networks - Use HeARTh as an investment or tax shelter - Become a business/trades mentor - Hire our Crew for your maintenance needs - Consider us for space rentals to host events - Support our Musical Fundraiser
To learn more about us and each of these options for supporting us, visit our website at www.dmgdomoregood.org We are looking forward to connecting with you!