social enterprises Archives | Numbers Knowhow https://numbersknowhow.co.uk/tag/social-enterprises/ Cash flow and financial planning made easy Wed, 18 Feb 2026 15:57:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://numbersknowhow.co.uk/wp-content/uploads/2022/02/cropped-Favicon-Cog.png social enterprises Archives | Numbers Knowhow https://numbersknowhow.co.uk/tag/social-enterprises/ 32 32 Digital Accounting – Assessing The Landscape For Social Enterprises https://numbersknowhow.co.uk/digital-accounting-assessing-the-landscape-for-social-enterprises/ Fri, 24 Nov 2023 11:14:38 +0000 https://numbersknowhow.co.uk/?p=13593 A GUIDE FOR THE SOCIAL ENTERPRISE SECTOR Social Enterprise UK estimates that there are over 100,000 social enterprises in the UK (Sept 2023). Social enterprises are unique organisations dedicated to making the world a better place. They operate differently from traditional charities. They’re profit-focused, but here’s the twist: their profits often get reinvested or channelled towards noble social causes. To effectively fulfil their missions, social enterprises must maintain tight control over their finances. This guide looks at how digital accounting can benefit social enterprises. What is digital accounting? Digital accounting is simply accounting done using online software tools to create, manage and store your financial transactions. It produces the same results as traditional accounting but it has benefits such as wider access to data and opportunities to automate time-consuming processes.  Why is it important for the social enterprise sector? Digital accounting can turbocharge the financial management of social enterprises, which increases profitability. You can reinvest extra profits back into the organisation on new initiatives or donate more to current or future social aims.  What are the benefits of digital accounting? Digital accounting stands head and shoulders above its traditional cousin. The biggest advantage of digital accounting is the time saved […]

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]]> Overcoming 5 Common Challenges For Social Enterprises https://numbersknowhow.co.uk/overcoming-5-common-challenges-for-social-enterprises/ Mon, 13 Nov 2023 11:55:31 +0000 https://numbersknowhow.co.uk/?p=13623   Social enterprises do amazing things. They matter because they offer underrepresented groups employment opportunities. They also reduce economic inequity, improve social justice and increase environmental sustainability. But it’s not always rosy in the garden of social enterprise. Why is running a social enterprise difficult? Being a social enterprise brings a unique set of challenges not experienced by traditional businesses or charities. Social enterprises are constantly trying to balance their activities between generating profits and meeting their stated social aims. It doesn’t matter what you do but you must have a clearly defined social or environmental mission at the heart of your organisation, earn more than 50% of your income from trading and re-invest or donate at least 50% of your profits to your mission. However, meeting the competing financial and social needs can be difficult and many social enterprises struggle to stay solvent or meet their ambitious social goals. This blog looks at five of the most common challenges facing social enterprises today. Financial challenges for social enterprises Social enterprises can often find managing their finances difficult. These issues generally fall into three broad categories: Limited access to capital Banks and other lenders typically view social enterprises as higher-risk […]

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