Social Venture - Explained
What is a Social Venture?
Written by J. Mance Gordon
Updated at April 21st, 2024
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
-
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
- Courses
What is a Social Venture?
A social venture can be described as a formal agreement, a contract, or an undertaking to solve social problems or effecting social change. So, a social venture can be better explained as the incorporation of business skills to solve social or societal problems.
Social ventures are commonly organized as non-profit ventures - but this is not mandatory.
There are many social ventures that are organized as for-profit business. They may be organized specifically as a B-Corporation or pursue a designation is a Certified B Corp (a designation issued by B Labs).
B-Corporations and B-Corps have a social mission that is perpetuated within the company's business model.