When you say Care Possible is a “social enterprise”, what are you talking about?
Care Possible Team
As part of the Care Possible community, you may have heard or seen us talk about being a social enterprise and wondered what that meant.
What is a social enterprise?
Recognized authority on the subject, Buy Social Canada (themselves a social enterprise), provides the following definition
“Social enterprises are businesses that sell goods or services, embed a social, cultural or environmental purpose into the business, and reinvest the majority of profits or surplus into their purpose.”
More financial or investor-focused sources will also often include the concept of using commercial strategies, market-based approaches, or entrepreneurial methods to deliver impact as part of their definition.
Social Enterprise Manitoba gives a few examples of community outcomes generated by social enterprises, which include improved health outcomes, reduced poverty, the creation of jobs for people facing barriers to employment, environmental sustainability, and more inclusive and sustainable local economies.
Since social enterprise is not a regulated term, you may see variations in how it is applied or used in the marketplace.
Is a social enterprise the same thing as a non-profit?
No. Not all social enterprises are non-profits, and it is safe to say that the majority of non-profits are not social enterprises.
Based on the above, the common elements in the definitions of social enterprise are:
1. Social mission
2. Business model
3. Reinvestment of surplus or profits to increase impact.
The consensus definition for a social enterprise has all three.
Care Possible is a social enterprise and a non-profit.
What makes Care Possible a social enterprise?
Care Possible is committed to delivering our impact through a non-profit structure, but as noted above, in and of itself, that does not make us a social enterprise.
We are an initiative of Manitoba Possible, a trusted non-profit organization that has been delivering programs and services for people with disabilities and their families for 75 years.
At Care Possible, we contribute meaningfully to Manitoba Possible’s mission by breaking down barriers for people in need of care and those who provide it. These barriers include access to choice in who you work with, financial barriers, equitable treatment, administrative complexities, and safety concerns. Care Possible is a social enterprise based on its social mission, business model and how our success will increase our impact, as follows:
Social Mission
Our mission at Care Possible is to offer affordable care options that provide choice and control for care recipients; support family caregivers and reduce caregiver strain and burnout; supplement and enhance the options and services already available in the market; and support our diverse community of care providers in building care practices and ensuring they receive a fair wage for providing care. We also seek to be a model for how enterprising non-profits can operate in support of our current systems and available supports.
Business model
Our business model is based on our sustainability fee, which is added to all transactions on the platform. As we receive no government funding for Care Possible, the sustainability fee provides a model for revenue that scales with the size of the platform and offsets the significant costs involved in delivering a technology solution to a complex problem.
Furthermore, we have accessed a market-based funding approach by taking on financing to fund the growth of Care Possible in the form of an interest-bearing, repayable loan. Our financing partners from Boann Social Impact and Victoria Hospital Foundation were the perfect choice to help us grow this service because they share our values and drive for creating this impact.
Surplus increases impact
Our vision for sustainability is an operation that can continually invest in growing, improving, and enhancing the service we provide our community. When you book care on our platform, you not only access online booking and scheduling tools, secure online payment, record keeping and transparency tools, and the substantial community of vetted care providers (who benefit from liability insurance provided by Manitoba Possible), you also help us support our mission and make this service available to Manitobans who need it.
As a non-profit, every dollar earned above our costs will be reinvested in magnifying our impact.
If you or someone you know is searching for affordable and flexible home care in Winnipeg, visit CarePossible.ca to learn how we make care affordable.
About Care Possible
Care Possible is a non-profit social enterprise by Manitoba Possible, dedicated to providing affordable, flexible, and preference-based in-home and respite care services. We support seniors, individuals with disabilities, and families using self and family-managed care in Winnipeg. Our mission is to ensure that every Manitoban who accesses care has an excellent experience.