The Big Issue. Divine Chocolate. The Eden Project. What on earth do a magazine, chocolate bar and an indoor rainforest all have in common?
Well these three brands are all examples of social enterprises, the new buzzword in the business world. A social enterprise is a business that trades to tackle social problems, improve communities, people’s life chances, or the environment. I have been interested in volunteering and charity work for a number of years but it wasn’t until I arrived in Oxford that I began to learn about social enterprises and how we can use business to solve social problems. Inspired by a social entrepreneurship workshop run by the Oxford Hub, a student led social action group, and some intense googling of inspiring entrepreneurship quotes, I decided to set up my own social enterprise.
The first step when setting up a social enterprise is to identify the problem. There are social issues all around us from the large number of homeless people in Oxford to the rising number of individuals in food poverty. However, I decided that the problem I felt most passionately about was student mental health. Most people have experienced the devastating effects of poor mental heath either themselves or through family and friends.
The second step is to think of a business which can address this social issue and so I decided to design a business that would attempt to improve student wellbeing. After a crazy brainstorming session with ideas including a giant waterslide from the Bodleian library into Radcliffe Square, I settled on a slightly more practical suggestion: a business delivering parcels filled with food and other goodies designed to make students feel happier. After some research, I decided that the business should work on a ‘Pay-it-forward’ basis whereby individuals are encouraged to send parcels to their friends rather than to themselves since numerous studies have shown that altruistic actions improve your own personal satisfaction and happiness.
Next was the fun part: choosing a brand name. My original list included the rather cheesy selection of ‘Boost’, ‘Inspire’, ‘Joy’ and the Shia LaBeouf inspired ‘Elevate’, all of which made it rather obvious that I had spent too much time on various synonym websites. I eventually settled on ‘Pick-me-up Parcels’ - I mean, at least it has some alliteration!
Now for the serious business part: I would rate my business knowledge as low to non-existent but even I understand that most successful businesses need to make money. After choosing what to include in my parcels (a selection of chocolates, hot chocolate sachet, a cute animal post card and a pack of stickers/a mini teddy bear), I estimated the cost per parcel at approximately £2 and so decided to sell each parcel for £3, with all the profits being donated to four amazing charities: Student Minds, Jacari, the Against Malaria Foundation and the Oxford Student Sexual Assault and Rape Crisis Centre.
The enterprise has now been running for seven weeks and so far, I’ve managed to earn over £400 in profit for these charities as well as cheering up lots of students around Oxford as they sit their exams. I am now looking at how I can expand the business during the autumn term. Even if this enterprise does not work out, I guess I will just have to speak to the Bodleian about that water slide…
Emily Tench (First Year Philosophy and Linguistics)