IFA-HK SOCIAL ENTERPRISE SET-UP
The UK definition of Social Enterprise is that it is a business with primarily social objectives. The surplus of the business is principally reinvested for that purpose in the business or in the community. Social enterprise is not being driven by the need to maximize profits for shareholders and owners (Social Enterprise: A strategy for success, UK Department of Trade and Industry, 2002:7).
It is really good news passed from Mr. Malcolm Dean and Mr. James Kong in May that IFA-UK’s approval in setting up “IFA-HK Social Enterprise” or “IFAHK SE” in Hong Kong. As promoter for such venture and advocator for social enterprise development in Hong Kong, this is unquestionably an encouraging act.
From IFA perspective, this is a vehicle aiming to increase members’ exposures to the community as well as encouraging IFA members and their clients’ awareness on Corporate Social Responsibility (CSR) gearing towards social enterprises set-up. Also from social enterprise perspective, “IFAHK SE” is a pioneer financial accountant social enterprise set-up in Hong Kong. The aforesaid are expected to add value in IFA-HK development.
The road for social enterprise establishment is not an easy task, being an entrepreneur is a challenge, not to say a social entrepreneur. Entrepreneurs are drivers of progress. They act as engines of growth, harnessing opportunity and motivation to fuel economic advancement in the commercial sector. Social entrepreneurs, like their business counterparts, tap into vast reserves of ambition, creativity and resourcefulness in relentless pursuit of hard and measurable goals. They are motivated by altruism and a strong desire to promote the growth of equitable civil societies. Social entrepreneurs pioneer innovative, effective, sustainable approaches to meet the needs of the disadvantaged (Raymond C.M.YIM – Social Entrepreneurship: 2007).
There is a strong belief that if one is doing something right and something good, rewards must come eventually. Glad to share with fellow IFA members that the writer’s persistent approach in establishing social enterprise since Year 2007 finally leads to the award of the “China Outstanding Innovative Entrepreneur Award” presented at People’s Hall, Beijing, China on June 6th this year. As for other HKSEIC incubating projects in Hong Kong, a “Postnatal Nursing Care Social Enterprise” will be incorporated next month. It is also anticipated that by the end of this year, an education social enterprise will roll out in collaboration with Raymond’s global partner, Ms. Kim Alter who is the Managing Director to Virtue Ventures LLC in USA and Visiting Scholar to University of Oxford Said Business School.
Awards Section of www.seic.hk
Hon. Secretary – IFA (HK)
Founding Chairman – Hong Kong Social Enterprise Incubation Centre (HKSEIC)
Date: 11 June 2009