To meet the standard in full, you can show that your business idea makes sense and will make a lasting difference. You have made sure of this by doing thorough market research, by testing your idea on a small scale, or by building up a solid trading history.
How do you know that your social enterprise idea makes sense and is likely to make a lasting impact?
If you are still forming your idea or getting started as a social enterprise you may want to test whether people will buy from you. You then need to work out whether you can build a business around it that is capable of achieving social impact. There are usually three stages:
The Steps to Startup online launchpad program from the Social Enterprise Institute will take you through all of the foundational steps to planning and launching a successful social enterprise.
If you are involved with an established or growing social enterprise, there is no greater sign of market validation than having a customer buy from you repeatedly.
You will need repeated and growing business activity in order to maximise the positive impact of your social enterprise.