GENERAL KNOWLEDGE

Detailed explanation-1: -Social enterprises are often confused with Non-Governmental Organisations (NGOs). However, the main difference here is the revenue model.

Detailed explanation-2: -A social enterprise, unlike typical NGOs, could take the form of company limited by shares or by guarantee. NGOs on the other hand, almost invariably, are organized as companies limited by guarantee under Ghana’s company law, Act 179, 1961.

Detailed explanation-3: -A social enterprise is an organization or venture (within an organization) that advances a social mis-sion through market-based strategies. These strategies include receiving earned income in direct ex-change for a product, service, or privilege. Social enterprises can come in both nonprofit and for-profit varieties.

Detailed explanation-4: -Saerin Cho: A nonprofit is an organization that is not conducting its activities primarily to make a profit, whereas a social enterprise is an enterprise providing social benefit and may be a nonprofit or a for-profit. The two circles can overlap for an organization that is both a nonprofit and a social enterprise.

Detailed explanation-5: -The biggest difference with an NGO is the scope of work that most non-profits assume. Many non-profits are affiliated with churches, boys and girls clubs, and alumni associations. An NGO, on the other hand, has broader and internationally driven footprint.