In his book, “Revolution of the Heart”, Bill Shore defines a facet of social entrepreneurship: “Instead of businesses deciding what nonprofit causes to support with some of their excess profit, nonprofits need to decide what line of business they can devise to create profits needed to support their public-interest efforts.”
Nonprofits creating a business to create the cash they need to support their efforts. This hybrid entity has a name: Community Wealth Enterprise (CWE).
Instead of fighting for a slice of the charitable pie, a CWE bakes its own pie.
It’s not a business where profit margins are top priority, and it’s not a non-profit that strives for philanthropy but has no money of its own.
[Excerpts of an article by William Long]