AVA Magazine July 21

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The Rise of the Social Enterprise With more Social Enterprises emerging over the past year, we take a look at their different legal structures.
AVA | July 2021 5 Your Love Rara CIC Aileen Longino AVA Development Officer specialising in Social Enterprise During this last year we have seen a stream of social enterprises starting up in Aberdeenshire - many people are looking to address their work/life balance by starting up an entrepreneurial business. Some of these businesses become social enterprises and take the legal form of Sole Trader, Community Interest Company, Company Limited by Guarantee or a Scottish Charitable Incorporated Organisation (SCIO) to name a few. But what is a Social Enterprise? A Social Enterprise is an organisation that is carrying out some form of trading whether it be with goods or services. The difference between a Social Enterprise and a charity is that Social enterprises aspire to generate an independent income and are nor reliant on funding. Your Love Rara is a Community Interest Company run by the amazing Zara Grant. It has been developed to support Mental Health and Wellbeing for children/young people and adults within the Aberdeen and Aberdeenshire area. Their ethos and goal is to create a creative, inclusive environment supporting mental health, imagination and bringing community together whilst inspiring others. Your Love Rara programmes are with qualified coaches supporting and teaching resilience, methods to support anxiety and depression and personal growth - never more important in our current climate. Through social inclusion they aim to raise funds to organise and support inclusive environments for all children and adults to be able to access this service. This includes but is not limited to children and adults with disabilities, disadvantaged households and diverse cultures within the local area. They want to continue to support local charities with fundraising events and spreading joy within the community. Visit: www.loverara.co.uk Key components of a social enterprise include: • Developed with strong social and/or environmental purposes at its core • Having an Asset Lock that ensures any profit is reinvested into the organisation. • A dissolution clause that stipulates that on wind up, assets are transferred to a similar organisation with similar social purpose. • An aspiration for financial independence through income generated trading. At AVA our Social Enterprise specialist Aileen Longino works with a wide variety of social enterprises across Aberdeenshire. We would like to feature three AVA Members who are all social enterprises but who all have a different legal structures. Photos courtesy of Your Love Rara CIC
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AVA Magazine July 21

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