Mythbusting: private sector business people just want to maximise profit

… the 2002 definition of social enterprise published by the then Department of Trade and Industry, which states that: ‘A social enterprise is a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners.’

Unfortunately, it’s utter codswallop – not because it’s necessarily wrong about social enterprises, but because it’s wrong about businesses which are not social enterprises…” – the is the last in my Mythbusting series for The Guardian‘s Social Enterprise Network.

This is the last Mythbusting feature because I’ve reached the point where I’ve busted all the major social enterprise myths I wanted to bust. That obviously doesn’t mean there are none left and it would be great to see other people tackling theirs.

I’ll be continuing to write for The Guardian‘s Social Enterprise Network. I’m now planning two new regular series of articles on approaches to social innovation and social enterprise business models. I’ll also be continuing to write about developments in the social investment market, both in the UK and internationally.

Thanks a lot to everyone who’s read and made comments on the Mythbuster series.  


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One response to “Mythbusting: private sector business people just want to maximise profit

  1. Let me bust one more for you. That government will give you money of your dreams are bigger than your budget. It’s David Cameron using the example of social impact funding to place children in loving family homes. 3 years ago, this was precisely what I asked him for support with in a proposal to place children in loving family homes. What does it say about the credibility of the social impaxct market, where those outside the inner circles of social finance may find they lose everything to have it read back to us.


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