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Developing new or existing funding streams for a Social Enterprise or Charity Project - Essay Example

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Over the years, the role of social enterprises has augmented significantly which demanded for more extensive delivery of public services related with social…
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Developing new or existing funding streams for a Social Enterprise or Charity Project
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Download file to see previous pages Thus, the social enterprises can considered to be a business model which is primarily engaged in promoting sustainable society by generating prospects for better socio-economic and environmental development. Moreover, social enterprises have charitable intentions rather than commercial and profit centred inclinations (Kernot & McNeill, 2011).
Since many social enterprises have emerged from the voluntary sector due to which these enterprises are often encountered with unique challenges in growing their business as well as accessing requisite funding (Kickul & Lyons, 2012). Currently, funding has become increasingly difficult for social enterprises to obtain because social enterprises concentrate more on attaining social, economic and environmental sustainability at the cost of growth which might place potential risks on their ability to generate and to access requisite funds (Scottish Social Enterprise Coalition, 2009).
The creative problem solving process such as ECI has been proven to be a much effective technique for overcoming issues such as difficulties in fundraising which have unfavourable impacted on the functioning of the social enterprises. Thus, in order to effectively tackle the challenges of fund raising encountered by the social enterprises such as The Children’s Society, Enterprise Case Initiative (ECI) technique has been duly applied for the study. The ECI comprises a few relevant stages, for example, mess finding, problem finding, data finding, solution finding, idea finding and acceptance finding. Additionally, this report critically analyses the environment under which social enterprises are operating in the United Kingdom. Furthermore, this report intends to discuss and to evaluate the challenges encountered by social enterprises like The Childrens Society in the UK. This report shall duly emphasise on ECI model for addressing various fund raising issues associated with The Childrens Society in the UK.
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