Social enterprises are set up to make the world a better place, using the power of business to create positive social change. Think Divine Chocolate, Jamie Oliver’s Fifteen, The Eden Project, and now, Baked: cake with a cause.
While it sounds like charity work, it is not. Social enterprises are businesses and make profits like any other business. They are financially sustainable with revenue generated through the sale of goods and services in the open market but the difference is how they work and what they do with their profit.
The inspiration for setting up Baked as a social enterprise stemmed from Lauren’s doctoral research. The fact that big business were able to control the decision-making process in politics, with little regard for society and the environment left (and still leaves) a bad taste in her mouth. She knew there had to be a better way of doing business, a more socially conscious way of doing business. The social enterprise model was it.
“I loved the premise that the business I would set up would be driven by social objectives and fully transparent and accountable, one of Baked’s core values and, I think, crucial to its future success” (Lauren, 2014).
This means that at Baked, we are driven by achieving our social mission, not by paying out to shareholders or to make our owner very wealthy. We have chosen to reinvest 100% of our profits into achieving our social mission so that when Baked profits, Worthing profits.