The Social Impact Blog
The Social Impact Blog covers the latest research, thinking, and developments in social enterprise and in improving the sustainability of the social sector. Posted approximately once per week, by reading this blog you will become better informed about the challenges facing nonprofits and social enterprises and find ideas on how you can make a difference in our society through the impact of for-profit and nonprofit socially-focused organizations.
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Impact measurement has the potential to be a powerful marketing tool for social enterprises and nonprofits but recent interviews reveal a preference for stories as validation of the “social” value of social enterprises and nonprofits.
As we learn more about what works in fostering more entrepreneurship, here are a number of recent lessons for economic development officials, grant-makers, investors, and entrepreneurs that can help Central Ohio continue to develop a thriving environment for new businesses.
Rather than look at the messages of these entrepreneurs as guidance only to become entrepreneurs, perhaps we should take a cue from the Arnold Fitness Expo and view their messages as guidance on to how to be fit businesses even if we don’t aspire to the extreme fitness of entrepreneurship.
Central Ohio is getting on the map when one of the oldest social impact investors in the U.S., RSF Social Finance, cold calls the Center for Social Enterprise Development to ask to be introduced to our most dynamic local social enterprises and to some of our major local players.
We need to recognize that the value of exploring social entrepreneurship is not exclusively to become an entrepreneur. Rather, the value is always to have a meaningful experience in how to solve problems and develop new skills to solve problems.
There is a flood of worry among nonprofits about where federal funding may go and whether there may be changes in the tax laws that would diminish the incentive for charitable giving. Nonprofits have needed to have a backup plan for sustaining their mission long before 2017.
One of the biggest challenges in conceptualizing a profitable business by a nonprofit is the distinction between wants and needs. Having 501c3 status makes resolution of this dilemma not straightforward.
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