SEWF Social Enterprise Verification
On 29 September, we launched our pilot SEWF Social Enterprise Verification Programme. This programme was designed in consultation with our partners around the world who have been leading the way on social enterprise verification for years within their respective countries and regions. In contrast to these globally respected verifications, SEWF Verification seeks to address the gap in social enterprise verification: this is our answer to market access for social enterprises in countries around the world where verification does not exist.
Where does social enterprise verification already exist?
Social Traders: https://www.socialtraders.com.au/
Buy Social Canada: https://www.buysocialcanada.com/
Ministry of Employment and Labor: https://www.moel.go.kr/english/main.jsp
Social Enterprise NL: https://www.buy-social.nl/
This list of countries will be updated during our pilot phase of the SEWF Verified Social Enterprise launch. Adjustments may be made after SEWF 2021.
What are SEWF's verification standards?
The social enterprise has a primary social or environmental mission at the core of their operations.
The social enterprise is transparent about and accountable to their mission and aspires to the highest ethical business standards in all internal and external dealings.
The social enterprise generates the majority (51% or more) of its operating income from trade, the sales of products and services, including grants for product outputs or services. If a social enterprise is in its start-up phase (2-3 years) or is engaged with a significant capital project, expansion or scaling, traditional operating income will be considered separately from grants and other funding sources used to grow and scale.
The social enterprise reinvests the majority (51% or more) of their surpluses in pursuit of their mission.
The social enterprise is controlled in the interests of the enterprise’s mission, not individually controlled and, depending on available legal structures, are traditionally autonomous of state.
The social enterprise will have provisions ensuring that if the organisation is dissolved, disposed or converted, all residual assets will be distributed in line with the organisation’s mission.