The Impact of Social Enterprises on Local Economies

Abstract

Social enterprises influence the economies of cities, regions, or towns. Thanks, in part, to the British government as the caliber of social enterprises has flourished during a certain tenure. For example, there are more than 70,000 social enterprises throughout the United Kingdom, including cafes and catering franchises, which, in a local case, source their products and ingredients from nearby suppliers. Another study project was based on nursing-based social enterprises that were launched in the United Kingdom. These types of social enterprises improve healthcare service provision and create or maintain employment opportunities.

Historically, social enterprises emerged to solve local challenges. The working class or social fabric of communities evolved or collapsed post-industrial revolution, so social enterprises came into being to offer jobs and renaissance. The crux of this research is housing-based social enterprises and how exchanges or participation within similar enterprises influence communities and local economies. These social enterprises may be described as either centralized organizations that directly provide services in a community, or others that outsource work to local tradesman or businesses. In the latter example, take a local initiative aiming to redevelop derelict or empty properties; similar schemes refurbish these buildings and employ builders in the vicinity to carry out the renovation work.

Keywords social enterprises, local economies, employment opportunities, community impact, healthcare services, economic development, sustainable initiatives, housing solutions.