Every business featured on Goodsmiths is making an impact in the social sector. They are social enterprises, purpose-led startups and B Corps.
Good Business Matters
A Social Enterprise tackles a social or environmental challenge and makes a decent business of it. They currently make up the backbone of Australia’s rapidly emerging social sector. Some go much further, producing an ongoing social impact as part of a fast-growing national or global business.
Large or small, these businesses are all bound by the same objective: to improve communities and enhance society in one way or another.
Creating a positive impact on the world takes many forms. For example, some people, who may be disadvantaged in some way, find it hard to find employment. With this in mind, social sector businesses are often established to offer specially designed pathways into work to meet the growing need for specific work opportunities.
Others provide opportunities for skills development or go that extra yard to address climate change and help the environment.
For-purpose and not-for-loss
All organisations, regardless of their structure, need to generate a income and make a profit. These purpose-led businesses are no different. By doing so, many evolve a long way beyond basic financial stability and reliance on grants or sponsorships. Some grow quickly, to become great-big-bloody-good businesses that create a lasting impact, while making themselves increasingly attractive to investors.
Social Traders have interpreted the profit model of a Social Enterprise as one where ‘at least 50% of profits go towards their cause’. This now forms a part of the Social Procurement Framework, developed with the Victorian Government in 2017.
The need for socially aware businesses, enterprises that do well and do good, has never been more acute.
They’re here because not only do they sell something worth knowing about, they are also doing something truly inspiring with their profits.
Certified B Corporations are one of the few internationally recognised certifications at the tip of the global movement of people using ‘business as a force for good’.
They meet a high standard of overall social and environmental performance, transparency and accountability and complete a rigorous assessment process that is reviewed on an annual basis, somewhat like a yearly ‘warrant of fitness’ check.
They aspire to use the power of business-as-usual to solve social and environmental problems.
There are over 2700 Certified B Corporations in over 150 industries and 60 countries, with 1 unifying goal – to redefine success in business.
We know that when choosing places to shop, you’re looking for quality at many levels. And so you should. Life’s too short. A delicious dinner, a thought-provoking experience, a beautifully made shirt or piece, these things are important too. So, every Good business on the Goodsmiths platform has also been chosen for their unique offering and the care with which it’s been created.
We’re in awe of all our Good businesses and the positive impact they’re making, and we are delighted to be able to introduce you to them.
Want your business featured? Contact us.