Community Enterprise: Importance, Challenges, and Funding Sources

Community Enterprise

Contents
PURPOSE OF THE REPORT ........................................................................................................1
INTRODUCTION TO THE ENTERPRISE...................................................................................1
AIMS AND OBJECTIVES OF CHOSEN ORGANISATION ......................................................2
HOW THE ORGANISATION GETS THIER FUNDING ............................................................2
KEY CHALLENGES AND OPPORTUNITIES OF ESTABLISHMENT ...................................3
RECOMMENDATIONS.................................................................................................................4
REFERENCES................................................................................................................................4
APPENDICES ................................................................................................................................5

PURPOSE OF THE REPORT
Community enterprise can be described as businesses which work for their social
objectives instead of financial and profit gaining ones (Kawharu, 2019). All the profit generated
from these enterprises will be reinvested for doing good for the community rather than
maximizing profits for the establishment. Community enterprises are considered as important as
it aid in revitalize communities, encouraging entrepreneurship, promote sustainability and many
more. They can solve varied issues through their collective involvement in an effective manner.
These enterprises earn income for them as well as try to bring changes in the community.
Purpose of this report is to analyse the importance of community enterprise and varied
significant challenges as well as opportunities they face while running their social programmes
in an effective manner. This project is considered as important as it aid readers in understanding
about funding resources of community enterprises in a precise manner.
INTRODUCTION TO THE ENTERPRISE
Age UK is regarded as registered charity organisation which run its programmes for
protecting the interests of older people in an effective manner. Its headquarters is at London,
United Kingdom. It also has a commercial arm named as Age Co Limited which sell products as
well as services whose profits are reinvested in charity programmes. They provide products such
as home insurance, legal services, bathing solutions and many more. Major services of Age UK
are home help, social activities, day centres and many more for the older people.
Age UK is running their operations on a local, national and international level. They have
made collaborations with Age Scotland, Age International, Age NI for supporting older people
across 40 countries in a strategic manner (Age UK. 2021). Their major focus of Age UK is to
provide care and health related help to older people. Age UK network has indulged in
partnerships with varied independent charities for making their network wider and serve massive
population.
Their programmes encompasses of helping older people to keep their life active and
updated with major advancements in world (Stott and Et. Al., 2022). In their physical activities,
they indulge older people in games such as walking football, fit as a fiddle, one step at a time and
many more for keep them active. During winter season, Age UK indulges in warm houses
programme which targets most vulnerable as well as older people. Age UK has appointed more
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than 75,000 dedicated volunteers all over the world which protects long-term interests of future
generations in a strategic manner.
Officials of Age UK had launched a programme which follows the promising approaches
in regards with loneliness as well as isolation in life of older people. Under this programme,
volunteers are asked to understand, reach, support individuals in accordance with loneliness and
health practices. In old age, loneliness is considered as major public health concern which can
influence their physical as well as mental health (Kirkpatrick, 2017). It is important to aware the
people about the issue for helping them to come out of this. Officials of Age UK has become a
leading expert in loneliness reduction service for which they have also created an application for
helping older people.
One of the significant programme of Age UK is Maintenance Cognitive Stimulation
Therapy (MCST) whereby group members take active part in meaningful as well as stimulating
activities in an effective manner. Varied activities are getting performed by older people with the
aid of volunteers such as discussions, word games, musical activities and many more
(Plungpongpan and Ruangvanich, 2021). This programme help patients of dementia in
improving their cognition, independence as well as well-being in an effective manner. It is
considered as beneficial for people suffering from dementia such as improvements in mental
ability, confidence, sense of belonging and many more.
AIMS AND OBJECTIVES OF CHOSEN ORGANISATION
Vision statement can be described as a document which describes desires of an
establishment that they want to achieve in a loner time period (Leape and Et. Al., 2020). Vision
of Age UK is that no one fear from ageing. They want to make people understand that growing
older can be challenging but it is not an illness. They believe in making older people connected,
respected, can enjoy life and live it with dignity.
Mission statement is an action-based document which declares the purpose of an
establishment as well as how they can serve their consumers in a strategic manner (Cohen-
Mansfield and Et. Al., 2018). Mission of Age UK is to make a positive difference in community
by improving the quality of life as well as provide timely support to people who needs it most.
Their aim is to represent the voice of older people to policy makers and decision-makers
whose policies can affect the older people. Officials of Age UK are entering into effective
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