What's your definition of social business?
This definition come from Muhammad Yunus
"A social business is defined as a non-loss, non-dividend company dedicated to meeting social needs; such as ensuring affordable healthcare for all, promoting better nutrition for children, creating employment for the unemployed, moving towards a safer environment, enhancing the process of women empowerment and providing safe drinking water."
"In social business, the investor gets the investment money back over time, but never receives dividend beyond that amount. All profits of the social business go towards improving the product or service provided, and increasing its reach."
We have had quite a lot of debate in the UK on the definition of Social Enterprise. Now Social Business is becoming more widely used to convey a variety of models which won't conform to the above Yunus definition.
The Community Interest Company for instance, locks the potential for asset transfer and caps the dividend distribution, yet would fail to conform to the strict Yunus definition. It might however, if founded on a Guarantee Company with no share capital or simply a business which determined to operate for the public good and not distribute any dividend.
So what's your interpretation of Social Business?
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