Programme Glossary

The School for Social Entrepreneurs (SSE) is the lead partner of the South West Social Entrepreneurs Partnership (SWSEP), which includes three programmes across the region. The three programmes that are part of the partnership include:

• Devon Social Entrepreneurs Programme
• Somerset Social Entrepreneurs Programme and
• BaNES Social Entrepreneurs Programme.

The programmes are funded by the UK Government through the UK Community Renewal Fund (CRF).

As part of the funding for the Partnership SSE and our partners must measure and report on specific activities and targets linked to the programme.  Some of the terms used may be unfamiliar to you, therefore we have produced this glossary to let you know what each of the terms mean.

Throughout the programme, you will also hear us refer to some of these terms within the different programme elements. There will be opportunity to have further discussions about these terms, but we wanted you to be clear about what we mean, in terms of this programme.

Attracting/leveraging investment

You have been successful at attaining a place on this programme and the grant that comes with it. This can be appealing to other funders or investors who recognise that you have already met other grant eligibility requirements and therefore may be interested in ‘chipping in’ to.

Beneficiaries

The people that benefit from the activities that your organisation runs. If beneficiaries are the ones directly paying for the activities, they could also be the customers.

Business created

For this programme, we will recognise an official ‘new business’ as one that has established a legal structure (incorporated) and has registered with Companies House and/or Charities Commission.

We will also register individuals that have registered as self-employed with HMRC.

Customers

A customer is anyone who gives you money for your goods or service. Customers may not always be the beneficiaries. For example, if a parent pays for their child to take part in a workshop you are running, the parent is the customer. The child would be the beneficiary. Customers could also include funders who give money for you to provide your goods or services. Again, they will not receive the good or service but are the ones paying for it.

Environmental impact

This is the environmental change or benefit that you may be looking to make through your social enterprise.

Freelancers/contract workers

These are people that you pay to help you deliver and run your business. They could be session workers, marketing help or admin support. They are not on the company payroll and so would submit at invoice to you for the work that they have provided.

Full Time Equivalent (FTE)

FTE is a quick way to reference the proportion of the week that an individual is employed.

Every company will be slightly different based on their number of working hours per week but will works on the principle that anyone working full time is 1.0 FTE and each working day (based on a 5 day working week or equivalent hours), is a 0.2 FTE.

Jobs safeguarded

If we talk about jobs safeguarded, this will mean job positions that were at risk of being made redundant, but due to changes made within the organisation you are able to retain them.

Legal structure

There are many types of legal structure. Each will provide a legal framework that will determine the rules and regulations for how the business will run. This is not something to rush – it is a good idea to establish how you would like the business to run and then choose the legal structure that best fits. For every legal structure there are pro’s and con’s and so specialist advice is recommended.

Net profit and loss

This is an accounting term that gives a snap-shot of the financial status of an organisation. It is the figure that is left when you have taken your total expenditure away from the total income.

• A positive number will indicate a profit.
• A negative number will indicate a loss.

Non-traded income

This is any income that comes into your organisation that does not come directly from sales. It would include grants and donations.

Products to firm

A new product to your firm will mean that you have created a new product or service that is new to your organisation. This could be the addition of a new workshop or creating a new service that was not in existence for your organisation previously.

Products to market

• This is different from a new product to firm, in that it is a brand-new innovation, product or service that has not existed anywhere. It is the creation of something completely new.

This may include:

• Product – when it is either at pre-launch or launched to the market
• Process – when it has been introduced into the business
• Service – when it has been introduced to the market

Social impact

This is the change or benefit that you are looking to make through your social enterprise.  This could be to individuals or communities.

Standard Occupation Classification

The Standard Occupational Classification (SOC) 2020 is a consistent way to classify jobs. Jobs are classified into groups according to the concepts of “skill level” and “skill specialisation”.

These groups are included in the table below.

More information on SOC can be found here: https://www.ons.gov.uk/methodology/classificationsandstandards/standardoccupationalclassificationsoc/soc2020/soc2020volume1structureanddescriptionsofunitgroups#introduction

Traded income

Traded income refers to any income that has come from the exchange of your goods and services for payment. This will include all sales, tendering and procurement.