social delta

Consulting and support for social enterprise in Canada

Tag: social change

Community Impact Bond: invest in social innovation through HUB Ottawa

Impact Hub Ottawa has been in existence for more than five years providing space, resources, information and a network to many of Ottawa’s most progressive citizens and organizations. They have recently moved to a new location as they continue to grow.

The staff and board of HUB Ottawa are hosting a mix and mingle event in which they will share their growth plans, launch their new Community Impact Bond opportunity and answer any questions you may have about this new investment vehicle.  If you are interested in investing in the changemakers, innovators, and social entrepreneurs making our city a better place to live, you’ll want to attend their information session.

Monday May 8th, 5:30-7pm at 123 Slater, 6th floor

This community bond offers a fixed rate of return based upon either a 2 or 5 year term. You can download a more complete prospectus at the HUB Community Bond Offer.  For more information, you may always connect with Katie Miller, HUB Ottawa’s Managing Director to discuss the opportunity further. Her full contact details are in the prospectus. I also recommend that you visit the HUB website to learn more about the programs and services offered by HUB Ottawa.

It is exciting to see Ottawa  offer social investors an opportunity to participate in creating a more vibrant, just, and healthy city;  I encourage you to find out more.

Key Ingredients of Flourishing Social Enterprises

Poverty & Purpose

It is no accident that some of the hotbeds of new and successful Canadian social enterprises are in specific, economically depressed regions: North end Winnipeg, Downtown Eastside Vancouver, Regent Park in Toronto,  and rural Nova Scotia and Newfoundland. It is said that necessity is the mother of invention, and indeed, the needs of the population in these regions are acute and entrenched: discrimination, drug use, alcoholism, obesity, crime, unemployment, marginalization… Where there is poverty, inequality, and significant loss of livelihood there is a need to try anything; poverty creates an irrefutable purpose to develop a mechanism to arrest human suffering. Social enterprise is one such mechanism, where a business model is employed specifically to address community and human needs.

Innovation & Investment

Desperation may be a driver for change, but someone has to create an idea for the business. In my experience, social enterprise business ideas are rarely conceived by committee.  More commonly, a single person is responsible for a creative social enterprise idea, and they need to then invest their time, energy and often finances to bring that idea to the market. That individual can work independently as a solo-preneur, or as an intrepreneur within government, the private sector, co-operatives or non profits. Growth and development of the idea will of course require support from many actors within these organizational structures, and even from a broader community, but innovation and investment typically starts with one person who has a dream to make life better for others.

Risk & Reslience

However, business is not easy; ask any entrepreneur. Social entrepreneurs face an increased challenge because they live in a world where success is measured in social wealth, not in financial returns. Creating a business where maximizing social benefit drives all business decisions can—and in most cases does—suppress financial returns. Risk is therefore large and the expectation of future financial wealth is optimistic at best, and frequently a myth.  In the private sector, individuals and organizations assume risk on the presumption that future financial rewards will compensate them for risking their time, energy, money and social capital. Social enterprise flourishes when the innovators have a resilient constitution, and a way to accept, manage and even embrace personal losses for the sake of a common good.

Patience & Prudence

The worst part is that starting a business creates risks that last for a long time. For many individuals and organizations launching a social enterprise, the initial energy can be whittled down by a thousand tiny cuts, often over years. In my experience, social enterprises that are spearheaded by an innovator in the non-profit sector may take up to three years to launch, and perhaps five  years to break even (if ever). Accepting, managing and embracing losses and risk over that length of time—all motivated by a sense of optimism and altruism—requires exemplary patience and a strong, informed, and flexible plan to succeed. A full-fledged business plan may seem excessive, but there has to be at least an understanding of the market, the risks, the operational requirements, proposed budget including both projected income and expenditures.

Help to support fair wages for global garbage pickers

One of Social Delta’s friends, Plastics For Change, has launched an Indiegogo campaign to raise money to launch their global platform to support a fair market economy for those on the globe who make a living collecting plastic from the world’s oceans and beaches.

The brain behind this concept is Andrew Almack,  and we’ve been working with Andrew for several months and have been amazed by his knowledge, drive, and commitment to this issue.  Social Delta has no doubt that this business will significantly improve the lives of thousands of individuals living in poverty, while simultaneously help to clean the world’s water of a  growing plastic menace.

Join Social Delta as a contributor to the Indiegogo campaign today, and learn more about how Plastics For Change is a force for good on our planet.

 

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