What is a Social Venture?

A social venture can be described as a formal agreement, a contract, or an undertaking to solve social problems or effecting social change. So, a social venture can be better explained as the incorporation of business skills to solve social or societal problems. 

Social ventures are commonly organized as non-profit ventures – but this is not mandatory. 

There are many social ventures that are organized as for-profit business. They may be organized specifically as a B-Corporation or pursue a designation is a Certified B Corp (a designation issued by B Labs). 

B-Corporations and B-Corps have a social mission that is perpetuated within the company’s business model.