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What is 'Social Enterprise'?

Updated: Apr 9, 2022

What is Social Enterprise

If you look up the term ‘social enterprise’ online, you may find countless varying explanations of it. Indeed, it is a fluid business concept, an emerging one still, that is morphed by every member of its community.

Stories of Social Enterprise

The concept of a social enterprise was popularised in the UK in the late 1970s. Unlike the traditional commercial enterprise, the social enterprise seeks to balance activities that provide financial benefits with social goals, such as housing for low-income families or job training.

While profit-maximization is not the primary motivation, revenue still plays an essential role in the enterprise’s sustainability. Sustainable revenue differentiates a social enterprise from a traditional charity that relies on external funding to fulfill its social mission. It does not mean social enterprises cannot be profitable. It is simply that their priority is to reinvest profits into their social mission rather than financial returns to shareholders.

To PURICRAFT, what does it mean to be a ‘social enterprise’?

To be a social enterprise means to give back to the society by protecting it and making it a better place. While it does not seek to maximise profits, it has the responsibility to ensure that its customers and employees are receiving fair treatment. It should also be an advocate of love and kindness, embodying the spirit of ‘paying it forward’.

How does PURICRAFT practice the spirit of social enterprise?

PURICRAFT hopes to connect people and promote floristry through affordable floral workshops and products. We believe that floristry, like other forms of art, is for everyone ─ be it a creative outlet, a channel of love, or a way to find inner peace.

While maintaining economic viability, PURICRAFT strives to be socially responsible by upholding the quality of our handcrafted products, rewarding our florists fairly and giving back to the community as much as we could. We dedicate 10% of our profit to various social initiatives, e.g. free community floral workshops, internships, bouquet giveaways, to share the joy of floristry with the underprivileged, promote dialogue among various community groups and create employment opportunities as much as we can.

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