Different Types of Social Economy Enterprises (SEEs)

Co-operative

Co-operatives – are organised by, and for, their members who come together to provide a shared service from which they all benefit. They operate in many fields. The best known co-operatives belong to the traditional consumer co-operative sector which includes retailing, banking, insurance, travel and funeral services. While the traditional co-operatives are undergoing a period of internal renewal and growth, new types of co-operatives are also developing. These include housing co-operatives, care co-operatives, worker co-operatives and new generation agriculture co-operatives.

Community Business

Credit Union/CDFI

Credit Unions are financial co-operatives established to help people save and borrow money. Members of a Credit Union save in a common fund. As well as being a good savings option, with successful Credit Unions paying an annual dividend of up to 8%, the money saved can be used to make low interest loans to other members. The Credit Union is directed and controlled by a volunteer Board of Directors elected by the membership at the Annual General Meeting. All members of the Credit Union have one vote, regardless of how many shares they own.

Housing Association

Provision of affordable housing for rent or low-cost home ownership and supportive housing for elderly/disabled

Local Enterprise Agency

Stimulating enterprise and business growth through provision of advice, support and workspace

Social Firm/Supported Employment

Social Firm – is a business created for the employment of people with a disability or other disadvantage, who have been excluded from the labour market. It is a business which uses its market-oriented production of goods and services to pursue its social mission. These firms are tackling new sectors such as ICT and Tourism instead of the traditional sectors for disabled people (assembly, furniture work etc.) One of the core objectives is to enable disabled people to become economically independent. Paying wages at market rate is an important aspect of social firms.

Trust / Development Trust / Neighbourhood Partnership

Development Trusts – operate as umbrella organisations under which different regeneration activities take place. Their boards include representatives of key stakholders e.g. local community representatives, local business people and representatives of community organisations. An established Development Trust may run a variety of initiatives, some of which may operate as trading subsidiaries. Activities include building and managing workspace, providing sport and recreation facilities, running childcare centres, promoting community development, carrying out environmental improvements, preserving and refurbishing local buildings, running training programmes, supporting small businesses, and setting up community enterprises.