Glossary Term

Social Enterprise / Social Business

A commercial entity that uses business practices and provides products or services that generate revenue in the marketplace, but does so in order to advance a social or charitable mission. Related to the idea of corporate social responsibility, but in social enterprises and social businesses the social mission is top priority and all aspects of the business – the nature of its products and services, hiring and personnel policies, environmental practices, etc. – align with that philanthropic mission. B Corps / Benefit Corporations, and L3Cs, are usually considered social businesses.

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