Social Business
/ˈsoʊʃəl ˈbɪznəs/
Definitions
- (n.) An enterprise that applies commercial strategies to maximize social impact alongside financial sustainability, often structured to prioritize community and environmental welfare.
The social business was founded to provide affordable clean energy solutions in underserved regions.
Forms
- social business
- social businesses
Related terms
See also
Commentary
In legal drafting, distinguish social businesses from traditional for-profit and nonprofit entities, as the hybrid nature may affect regulatory compliance and tax status.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.