Sign In

Username:
 
Password:
  

NEWS

New Regen School Wales course started
Sept 2007

Learn more »

...............................................................................................

Coalfields Regeneration Trust has announced an increased level of support for Regen School Wales for 2007/08.

...............................................................................................

Andrew Rees from Gilfach Goch Community Association and one of our mentors Mel Witherden on course completion Regen School Wales students successfully complete 2006/07 course.

...............................................................................................







Jargon

Part of this jargon buster has been repoduced with kind permission of Social Enterprise Magazine

Below are listed the most common words and phrases you are likely to come across in the social community enterprise sector.

a b c d e f g h i j k l m n o p q r s t u v w x y z

A

• Asset based development

A development strategy that recognises that the possession of tangible assets (land, buildings or a dedicated income) is the key to achieving the goals of self-sufficiency, independence and sustainability which underpin community based regeneration organisations.

Back to top

 

B

• Best value

The current arrangements for reviewing the effectiveness, efficiency and economy of public sector services, and the measure of value for money in public sector procurement.

• Biodiversity

The diversity, or variety, of plants, animals or other living things in a particular area or region. The term encompasses habitat diversity, species diversity and genetic diversity. Biodiversity has value in its own right and has soclal and economic value for human society.

• Brownfield land

Any land or premises which has previously been used or developed and is not currently in use, although it may be partially occupied or utilised. The land may also be vacant, derelict or contaminated but excludes parks, recreation grounds, allotments and land where the remains of previous use have blended into the landscape, or have been overtaken by nature conservation or amenity use.

Back to top

 

C

• Capacity building

The development of skills and knowledge and experience in local communities to increase the ability and willingness of community members to initiate projects, programmes and business, to organise these ventures and to keep them running.

• Charities

Charitable status is available to all organisations with exclusively charitable purposes and activities, whether alleviation of poverty, advancement of religion or education or ‘other purposes beneficial to the community’. Charitable status comes with highly beneficial tax advantages but trading is limited and must be in line with charitable purpose; hence it is appropriate for some social enterprises but not all. Several charities in the voluntary sector have trading arms – their own social enterprises – to generate income to support their charitable aims.

• Cluster

Organisations or enterprises that aim to improve their commercial performance through direct and indirect forms of collaboration, or sharing of resources, customers, inputs, often resulting in locational advantages from close proximity with each other.


• Communities First

Communities First is a major flagship Welsh Assembly Government programme aimed at cutting poverty and helping to improve the lives of people who live in the poorest areas.

• Communities First Support Network

Communities First Support Network is a formal partnership of nine national voluntary sector organisations that offer dedicated support to the Communities First programme.

• Common bond

Credit unions all have a common bond. They determine who is able to join them. There are four types. A community or residential bond refers to anyone who lives in a certain geographical area. A live or work bond refers to people who work and live within a certain geographical area. An employment or industrial bond refers to all employees in a company or group of companies. An associational bond refers to membership of a trade union, trade association or other group.

• Community business

A trading organisation which is set up, owned and controlled by the local community and which aims to create self supporting employment for local people and also act as a focus for local development. The terms community business is often used by social enterprises that focus on local markets and services.

• Community care plans

Publicly available plans for each local authority that outline or update local community care provision or strategy.

• Community development finance institutions (CDFIs)

A financial services provider (possibly a community based bank, community loan fund or a community development venture fund) which has a mission to achieve social objectives. They lend and invest in deprived areas and markets that cannot access mainstream finance, including social enterprises. Some CDFIs focus specifically on financial services for business and social economy organisations rather than individuals. While some CDFIs are regulated as banks or building societies, most do not have deposit-taking status. The legal forms most often used are the indistrial and provident society (IPS) and, in association with chartiable status, the company limited by guarantee.

• Community development venture capital fund

A venture capital fund, run for profit, that is targeted at communities that lack investment.

• Community enterprises

Community based and led organisations that are:
Trading for social purpose so that surpluses are reinvested in further enterprise development in community ownership of land and buildings for social and community benefit. They share the same combination of enterpreneurial skills and social purpose as social enterprises.

Community Enterprise is distinguished however by its focus on a community of place or interest and delivers local services to local people—often involving also the employment of local people. Development Trusts are a model of community enterprise joining up the delivery of a range of local services.

• Community Interest Company (CIC)

A new legal form for social enterprises. They combine the features of a company with some elements of a charitable organisation (ie assets can’t be sold off for private gain). CICs will report to an independent regulator on how they are delivering for the community and how they are involving their stakeholders in their activities.

• Community Investment Tax Relief

A tax break to encourage investment in Community Finance Institutions. Relief of 5% p.a. is paid for up to 5 years for investments in accredited CDFIs

• Community loan fund

A community loan fund is a CDFI that provides loans.

• Company limited by guarantee

A company registered with Companies House with members rather than shareholders; members guarantee a nominal sum for paying liabilities and can also pay a regular membership subscription. Charities, Development Trusts, Social Firms and Community Businesses frequently use this form of incorporation..

• Company limited by shares

A company registered with Companies House which is controlled by its shareholders. This form is often used for trading subsidiaries of charities.

• Competitive tendering and contracting

Arrangements for procuring services that involve tendering by more than one potential provider. Tenders are assessed against best value criteria that assess quality and cost.

• Compulsory purchase order

A statutory power given to local authorities where agreement cannot be reached with a land owner to require the sale of land and/or buildings in order to enable the achievement of wider policy objectives.

• Co-operative

An organisation owned and controlled by its members and incorporated under the Industrial and Provident Societies Act and regulated by the Financial Services Authority. However, it is possible to incorporate as a company with co-operative principles. A key feature is ownershipand control by members. Members may be employees (a worker co-op), customers (a consumer co-op), tenants (housing co-op) or a combination of these groups (multi-stakeholder co-op).

• Corporate social responsibility (CSR)

A wide ranging set of concepts that relate to businesses conducting their activities responsibly. Factors include environmental impacts, employee and customer health and safety issues, participation in local communities (being a good neighbour), good corporate governance, other social issues and ethical and fair trading. CSR proponents argue that these issues are core to the long term sustainability of all businesses and apply equally to both small locally based businesses and large multi-national listed companies.

• Credit union

A financial co-operative, which is owned and controlled by its members. As well as being a good savings option, with successful credit unions paying an annual dividend of up to 8%, the money saved can be used to make low interest loans to other credit union members. Only people who come within the common bond of the credit union can join it and make use of its services. The credit union is directed and controlled by a volunteer Board of Directors.

Back to top

 

D

• Development trusts

Development trusts are enterprises created by communities to enable sustainable development in their area. They undertake a wide range of economic, environmental and social activities and services. As independent not-for-private-profit organisations, they are committed to involving and being accountable to local people.

Development trusts are defined as organisations that are:

A development trust is not a legal structure in itself, but is usually registered either as a company or as an Industrial and Provident Society. Many are also charities.

• Development Trusts Association (DTA)

A community based regeneration network and membership organisation formed in 1992.

• Development Trusts Association Wales (DTA Wales)

The Development Trusts Association Wales provides support to and is the membership body for a thriving and fast growing network of development trusts in Wales. It was established in January 2003, with the support of the Welsh Assembly Government, to provide support in Wales for the existing network of Development Trusts to operate well and grow their activities and to assist communities and organisations that wish to establish new development trusts and to promote good practice and a practitioner based learning network in Wales.

Back to top

 

E

• Equity finance

Funds invested in a business in the form of shares. Investors usually have a say in the running of the company and also receive a dividend from profits.

• Ethical investment

Investment which is screened to ensure it has no links to activities which the investor would not wish to support.

Back to top

 

F

• Fair trade

A term which refers to an alternative approach to international trade. It implies a trading partnership which aims to encourage sustainable development for excluded and disadvantaged producers. Supporting partner businesses seek to do this by promoting and providing better trading conditions, conducting awareness raising activities and campaigning.

Back to top

 

G

 

Back to top

H

 

Back to top

• Housing Association

Not-for-profit companies in charge of managing housing stock. The term is used interchangeably with Registered Social Landlord (RSL) – not for profit organisations whose aim is to provide affordable housing.

Back to top

 

I

• Industrial and Provident Society

This is a body incorporated under the Industrial and Provident Societies Acts, and includes co-ops, some development trusts and a range of other organisations.

• Intermediate labour market (ILM) projects

These provide training and work experience within the supportive structure of a community business. The work experience is often a year in length and provides a stepping stone to employment.

Back to top

 

J

 

Back to top

 

K

• Knowledge Economy

An economy that provides the conditions to develop new ideas whose value can be traded, for example, by the design and production of high-value goods and services. It contrasts with an economy that is focused primarily on production using existing ideas.

Back to top

 

L

• Labour Market Intermediaries

Community based organisations that are close to local people, are able to relate to unemployment issues and understand business needs. They act as job finders, brokers and support people in the early months of work.

• LETS

The terms LETS refers to local exchange trading schemes. They are community-based mutual aid networks in which people exchange goods and services without the need for money. They are an organised form of bartering.

Back to top

 

M

• Managed work space

Buildings providing accommodation for start-up and existing businesses. In addition to leased space, new businesses also have access to training and advice. They also provide an income stream as ‘ Community owned Assets ’ to community enterprise organisations such as Development Trusts.

• Micro-enterprise

A very small business, usually defined as "a business with fewer than 10 staff". Sometimes defined as "a business with fewer than 5 staff". 89% of all UK businesses have fewer than 5 employees. Some Social Enterprise such as development trusts run programmes to assist Micro-enterprise.

• Micro-finance

This term refers to small savings and loans facilities with no (or a very low) minimum deposit. It also refers to other financial services such as insurance, money transfers and bill payments that are designed for people on low incomes.

• Micro-loan fund

A fund providing small loans, (and therefore a particular form of micro-finance). A micro-loan fund is a specialised form of financial service based on distinct products specially designed to service micro-enterprises and is not merely the occasional provision of a very small loan.

• Mutualisation

This term refers to the increased use of mutual organisations to provide services under contract to local authorities.

• Mutuals

Mutual organisations are those whose members have joined together with a common purpose to provide a shared service of mutual benefit. They are legally constituted in a number of ways. Mutual business structures include co-operatives, building societies and other employee-owned businesses.

Back to top

 

N

• NEF

New Economics Foundation

• Non profit or not-for-profit or Non- Profit distributing

Terms commonly used to describe companies such as community and voluntary or social enterprises which may well make a profit, but do not distribute their profits to shareholders, instead using them (also called ‘surplus’ in this context) for social or community benefit or reinvestment in fulfilling their social aims.

Back to top

 

O

 

Back to top

P

• Patient Capital

An alternative to private equity finance, where part of the expected returns to investors will be social rather than financial. Defined by the Bank of England as as ‘long-term finance for development, with soft terms, including little ceding of control and sub-market financial returns, in return for social gains’. Can take the form of ‘investment’ grants, loans or equity.

• Planning gain

Land. buildings or other facilities provided by a developer as part of the conditions for gaining planning consent for a development.

Back to top

 

Q

 

Back to top

R

• Regeneration

A programme of local development which addresses physical, social, environmental and economic disadvantages in both rural and urban areas.

• Registered social landlords (RSLs)

More commonly referred to as housing associations RSLs are independent not for profit organisations that are registered with the Housing Corporation.

Back to top

 

S

• SEC

Social Enterprise Coalition

• Section 106 Agreements

These are planning obligations on persons or organisations with a land interest. The aim is to facilitate the implementation of planning policies as authorised by Section 106 of the Town and Country Planning Act 1990.

• Social accounting

The process of collecting, analysing and reporting both quantitative and qualitative information to provide an account of the performance and impacts of an organisation from a social perspective. Social accounts can also include environemental or economic pefromance as well.

• Social auditing

The process of checking social accounts to make sure that they ‘add up’. An organisation that conducts a social audit makes itself accountable to its stakeholders and commits itself to following the audit's recommendations.

• Social business

A term sometimes used by social enterprises where there is a small core of members who act in a similar way to trustees. These social businesses often focus on providing an income or employment opportunity for disadvantaged groups, or providing a service to the community.

• Social capital

A term used to describe the non-financial resources – such as trust, partnership, networks, relationaships and shared values – which enable a community to thrive and function more effectively. Also used to describe the economic and other activities of the “ Third Sector ” not accoubnted for by

• Social economy

Sometimes also called the ‘third sector’, this part of the economy exists between the private and public sectors and includes social enterprises, charities and voluntary organisations, foundations, trade unions, religious bodies and housing associations.

• Social enterprise

Social enterprises are dynamic businesses with a social purpose working all around the UK and internationally to deliver lasting social and environmental change.

• Social entrepreneur

Somebody who identifies and brings to life new business opportunities but who is motivated by public and social good rather than the need for personal profit.

• Social exclusion

This is a shorthand term for what happens where people or groups find themselves excluded from society and from opportunity for reasons such as poverty, ethnic origin, age, lack of skills, bad health, low income, criminal record or gender.

• Social firm

A business created to provide integrated employment and training to people with a disability or other disadvantage in the labour market.

• Social inclusion

The ability to access and benefit from the opportunities available to most members of society.

• Surplus

The profit in many social enterprises is referred to as a ‘surplus’, to reflect their "not for private profit" status.

• Sustainability

This term is used in many ways, with different meanings e.g. can refer both to the financial stability of an organisation and to the adoption of environmental social or economic policies and practices which minimise the impact of the enterprise on the environment.

• Sustainable development

This term is often used to describe development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Back to top

 

T

• Triple bottom line

When an organisation attaches equal importance to social and environmental objectives as well as to economic financial objectives.

Back to top

 

U

 

Back to top

V

• Venture capital

Commonly as equity investment – that is, money for a share in the business. The capital is used to achieve the next phase of business growth, be that starting-up or transforming from a small to a medium sized business. Venture Capital often buys a share for a fixed period of time and may look for board level influence.

• Voluntary organisation

A self-governing body of people who have jointed together voluntarily to take action for the benefit of the community, established otherwise than for financial gain. It does not have to be a registered charity, but if it is not the aims, objectives and methods of working of the organisation must be written down in a publicly available document. The organisation should be open to all members of the community with interests relevant to the publicly stated aims. It depends largely on grants and donations for its revenue.

Back to top

 

W

• Workers Co-operatives

Often Industrial and Provident Society bona fide Co-op where the members are the employees of the business. As such employees both own and manage the business that they work for.

Back to top

 

X

 

Back to top

Y

 

Back to top

Z

 

Back to top

| Supported by |

| Copyright Regenschoolwales| Contact Us |