Background to Forth Valley Social Enterprises
Forth Valley Social Enterprises CIC was founded in November 2012 by Stirling based Social Entrepreneur, Matt McGrandles.
During his time both working for others as well as on his own ventures he gained an understanding that, like himself, people engage more in the learning process when there are practical experiences involved. Having approached the new Forth Valley Chamber of Commerce he was introduced to CVS Falkirk’s social enterprise support executive, Dave Park. After a 3 hour mapping session with Dave, the bones of what was to become FVSE CIC was in place along with our social aim:
‘Empowering young people with employability and enterprise skills needed in the work place’
Unike other businesses you can tell a social enterprise from their set up. There are five essential elements of a social enterprise.
- A Social Enterprise (SE) is a business trading in the marketplace selling goods and services but whose primary objective is to achieve social and/or environmental benefit.
- Regardless of its legal form, the constitution of a SE will include the requirement that profits are reinvested in the business or in the beneficiary community and not distributed to owners/shareholders/investors.
- The constitution will always require that on dissolution, the assets of the SE are reinvested in another organisation with similar aims and objectives. Taken together Criteria 2 and 3 are referred to as the ‘asset lock’ the defining characteristic of a SE which distinguishes it from the private sector.
- SE’s are different from those charities and voluntary organisations which do not aspire to financial independence through trading.
- SE’s are distinct from the public sector and cannot be the subsidiary of a public body.