Overview of the Module
General Aim of the Module
The lesson on social enterprise funding and financial management aims to provide a comprehensive understanding of the financial aspects to manage social enterprises effectively (based on internal and external funding sources). Learners will achive knowledge on social enterprise funding options and opportunities, as the non-repayable grants from governments or foundations. Learners will know how to apply financial management rules (financial planning, budgeting and cost management, revenue diversification, financial reporting and transparency) for measuring impact by connecting financial investments to social value creation. Finaly, trainees will be able to estimate/calculate the social impact investments and to develop crowdfunding techniques.
Module Specific Objectives
- Explain funding options as non-repayable grants from governments or foundations, social impact investments and crowdsursing. Explaining how social impact could be measured.
- Providing knowledge and references for understianding financial management rules – financial planning, budgeting and cost management, revenue diversification, financial reporting and transparency. Explaining how impact can be measured by connecting financial investments to social value creation
- Explaining crowdfunding techniques and their way of implementation.
- Analyse and exploring different funding opportunities in action and financial management approaches applications in real social enterprise cases (develop applications for funding).
Brief Instructons on how to Study in this Module
Learning Resources for Curious Minds
Chong, P., & Kleemann, L. (2011). The future of funding for social enterprises (No. 34). Kiel Policy Brief. Retrieved from: https://www.econstor.eu/bitstream/10419/52505/1/669344613.pdf (Access 24-07-2024)
Euclid Network. EU Funding. Retrieved from: https://euclidnetwork.eu/portfolio-posts/eu-funding/ (Access 24-07-2024)
World Economic Forum (2023). Funding social entrepreneurs: why it’s time to think local. Retrieved from: https://www.weforum.org/agenda/2022/05/new-model-for-funding-social-enterprise-think-local/ (Access 24-07-2024)
ICTworks™ network. Retrieved from: https://www.ictworks.org/about/ (Access 24-07-2024)
FasterCapital. Funding Sources For Social Enterprises. Retrieved from: https://fastercapital.com/topics/funding-sources-for-social-enterprises.html (Access 24-07-2024)
Managing Finances for Social Entrepreneurs (thoroughfinancialservices.com)
Social Enterprise Toolkit. Chapter 6 Managing Finance | Social Enterprise Toolkit
Accounting for your social enterprises start-up. Accounting for your social enterprise start up The School for Social Entrepreneurs (the-sse.org)
Talukder, S. C., & Lakner, Z. (2023). Exploring the Landscape of Social Entrepreneurship and Crowdfunding: A Bibliometric Analysis. Sustainability, 15(12), 9411. https://www.mdpi.com/2071-1050/15/12/9411
How crowdfunding actually works in 2024, and whether you should use it to raise money | TechCrunch
