Social Enterprises, Lifestyle Buisness and more
Cards (13)
- what is a social enterprise?a business whose motives are not financial but to provide a service or benefit to society. profits made are generally reinvested
- what is a lifestyle business?a business set up by an entrepreneur to work on what they want in the way they want
- what is an online business?a business that only operates via the internet
- example of social enterprises?
- fair trade
- charity shops
- places that hire homeless and ex offenders
- advantages of social enterprises?
- customers are more loyal and willing to buy
- reduced PED
- access to grants and social investment
- personal fulfilment
- disadvantages of social enterprises?
- may face higher costs
- raising captial is harder
- why start a lifestyle business?
- a work life balance
- a passion or personal interest
- flexibility
- autonomy
- sufficient income
- examples of a lifestyle business?
- freelance work
- coaching
- blogging or vlogging
- online retail
- advantages of life style businesses?
- lower start up and operating costs
- greater flexibility and a work life balance
- ability to pursue interests
- disadvantages of a lifestyle business?
- limited income potential
- limited revenue potential
- hard to raise captial
- example of online businesses?
- ecommerce stores
- digital distribution
- subscription services
- content based businesses
- advantages of online businesses?
- lower start up and overhead costs
- wider market reach
- flexibility
- scalability
- take advantages of e-commerce trends
- access to digital tools and platforms
- disadvantages of online businesses?
- increased competition
- customer service may be compromised
- technical issues
- cybersecurity issues