Do Good. Do Well. Social Enterprise.
Unlike traditional business structures that strive to meet a shareholder-driven bottom line, a social enterprise has three main objectives:
This enhanced “triple bottom line” (also known as a 3BL) is a cornerstone of a social enterprise’s goals. By shifting a business’s attention to a more community and environmentally-minded structure, a company can do good in the community while also turning a profit and doing well for itself.
A triple bottom line is a perfect complement to both for-profits and non-profits because it blends the best aspects of both structures together. For non-profits, a triple bottom line allows a company to retain its mission statement and its desire to help the community while also promoting sustainability and longevity through proper funding. Conversely, for-profits may use their business to help the community and the environment without worrying about a shareholder-driven bottom line. In the long run, social enterprise promotes the well-being of any structure by bringing the best of both worlds together.