The Big Issue started the business in September 1991. During 20 years of growth, the Big Issue has become one of the famous social enterprises in UK. The Big Issue runs its social business in a unique way.
Unlike any charity or social enterprise, the Big Issue combines these two parts into one efficient entirety. The Big Issue Company publishes the weekly magazines and sells them to vendors. ‘Any post investment profit generated through the sale of the magazine or the sale of advertising is passed on to our charity, The Big Issue Foundation.’(Big Issue) The foundation then passes all profit to homeless people. Furthermore, the foundation also accepts public donations.
This combination is able to maximize its social effect while the publisher can focus on publishing magazines and the foundation can concentrate on help the poor, without bothering tight cash. It shows the future of social enterprise, binding specialized profit-oriented companies and charities.
Moreover, traditional companies should partly become social enterprises because they are more specialized in profit making. If they would like to use a small part of income to help the poor, the social effect will be significant. Traditional companies can also gain intangible assets, such as fame, reputation and social-caring image.
Work cited:
1. Big Issue. “Introduction To The Big Issue.” Big Issue-About Us. The Big Issue, Jan-Nov 2011. Web. < http://www.bigissue.com/About_Us_2.php >.