Social Businesses

Helping you to achieve financial success and social impact

Social businesses are unique in their pursuit of profit and purpose. They’re driven by their values as much as commercial imperatives: by a desire to contribute to their chosen cause or community.

As the global issues of the last few years have led many of us to examine our own values, purpose has become more important to consumers than ever before. Yet
even before this period of transition, the UK’s social enterprise sector was firmly on the rise: estimates already put its contribution to the economy at some £60 billion a year.

In some ways, social businesses operate much like any other firm, with similar commercial and compliance obligations. But they must also contend with specific
complexities in terms of their structure, strategy and stakeholders.

What’s more, they’re under more pressure to ‘get it right’. When your goal is to drive positive impacts for society, the risk to your reputation from doing the wrong thing is that much greater.

Experienced support

At Goodman Jones, we support many social businesses: from medical and solar technology providers, to specialist not-for-profit consultancies and supply chain
assurance services.

As trusted advisers to social enterprises, charities and family firms, we have the range of skills to help you achieve financial success, business growth and ultimately your social objective.

We can help you to manage multiple stakeholder sets (customers, investors and communities) – and address the tensions and conflicts inherent in doing so. And we
understand the succession challenges you face as you strive to give something back to the community, and to leave a positive legacy for future generations.

Our services

Our dedicated and highly experienced social enterprise team will work with you to:

• Identify and create the right structure for your organisation – for example, a limited company, charity, community interest company (CIC) or industrial and provident society (IPS).
• Take advantage of any relevant investment incentives – for example, structuring your business so that investors can claim Social Investment Tax Relief (SITR) will make it more attractive to potential funders.
• Gather and present information for the financial elements of B Corporation accreditation – and amend your articles of association to reflect this accreditation.
• Carry out effective scenario planning, bringing in intangible aspects like public opinion and perception; and factor such elements into your financial planning and
  budgeting.
• Tell your story – by reporting and communicating the impact your organisation is
  having to your stakeholders. This could be in your financial statements, or via dedicated impact or ESG reports (even if these aren’t statutory requirements).

And of course, we can provide the financial, accounting, reporting, payroll and tax support you’ll need whatever your corporate structure – including:

• Formation and registration
• Business and strategic planning
• Engagement of workers and employment tax
• Financial forecasting and modelling
• Governance and risk
• Systems and internal controls reviews
• Company secretarial services
• Tax reporting, planning and advice
• Reinvesting profits
• Mergers and acquisitions