The purpose of a social enterprise is to bring a strategic, business-minded approach that enhances the wellbeing of the consumers, the housing organisation and society. The main focus of social enterprise initiatives is the delivery of products and services that enhance quality of life ahead of achieving a financial return for the housing organisation. However, the relationship between cost and the social return generated must remain an important factor in maintaining viable and successful initiatives. An association which does not adopt a viable business model with funding an essential element does so at its peril!
Social enterprises can help to improve the health and wellbeing of housing association tenants by giving them greater security, a better local environment and living conditions, as well as helping to improve their personal development capabilities and working to save them money on essentials. Initiatives may include educating residents in issues from how to lead a healthy lifestyle to advice on operating household systems for maximum efficiency and cost-effectiveness.