Building Stronger Communities Through Social Enterprise
It is no secret that many communities in Newfoundland and Labrador are struggling. This is especially true of rural towns that once relied on the cod fishery for their survival. In such places, community members and leaders are looking for ways to preserve their homes, their ecosystems, and their way of life. One trend that shows real promise for reinvigorating communities is social enterprise.
Social enterprise is the practice of business for pro-social aims. Unlike corporations, which exist primarily to increase profits for their investors, social enterprises prioritize the well-being of people, communities and the ecosystems that sustain them. Because of their people-over-profits focus, social enterprises can accomplish things that corporations cannot—or will not—do. They care for their local environments, support other local businesses, and hire people who may not seem like the ideal job candidates. They do these things despite higher costs and inefficiencies to build a better future for their community.
Dr. John Schouten, Canada Research Chair in Social Enterprise, conducts research to improve knowledge and practice in social enterprise. He and his research teams are studying both successful social enterprises and ones that are struggling to overcome challenges. The goal is to determine what makes social enterprise successful and what can be done to remove barriers to success.
The problems facing Newfoundland and Labrador communities are not unique, but they are especially acute. Schouten’s research aims to advance social enterprise as a partial solution to problems that corporations and governments have proven incapable of solving.