Social Enterprise
Definition
Businesses organized to achieve social missions (reducing poverty, employing people with barriers, environmental protection) while generating revenue through selling goods or services. Social enterprises balance mission and money, using business methods for social purposes. Examples include businesses employing formerly incarcerated people, providing transitional jobs for people experiencing homelessness, or offering living wage jobs in disinvested neighborhoods. Social enterprises fill gaps that neither pure charity nor traditional business addresses.
Louisville Context
Louisville has several successful social enterprises including Goodwill Industries (employing people with barriers), Chrysalis House’s enterprises (supporting women in recovery), and smaller mission-driven businesses. However, Louisville could support far more social enterprises addressing employment barriers, poverty, and community needs. Limited access to patient capital (investors accepting lower returns for mission) and technical assistance constrains social enterprise development.
Why It Matters
Traditional businesses prioritize profit over mission while nonprofits depend on donations. Social enterprises combine business sustainability with social mission, creating jobs for people excluded from mainstream employment, generating revenue for mission, and building community wealth. Social enterprises provide pathways to employment for people with criminal records, recovery challenges, or other barriers conventional employers exclude.
Dave’s Proposal
Dave will support social enterprise development through Metro procurement prioritizing social enterprises (within $1.025 billion budget), low-interest loans for social enterprise startups, technical assistance for mission-driven businesses, and partnerships between Community Wellness Centers and social enterprises creating employment pathways. Priority support for enterprises employing people with criminal records, people in recovery, and other excluded populations.