A guide to third sector trading - WCVA

It’s an idea, but is it business? A guide to third sector trading
1: Getting
started
2: First steps 3: Business
planning
4: Legal and
governance
5: Funding
and
resourcing
6: Financial
controls
7: Managing
growth
8: Management
and
governance
9: Social
enterprise
10: Sources
of support
1: Getting started – the absolute basics
This chapter is a checklist for absolute beginners to show what will be expected of them if they are going to develop
a trading operation.
New and established organisations
Established community and voluntary organisations can be
assumed to have a head start on new groups which are starting
social enterprises. They are likely to have:
• objectives and aims as an organisation
• a constitution
• a basic management structure
• committee skills and decision making procedures
• some financial record keeping arrangements.
You can’t assume that these advantages will be suitable for or
robust enough to run trading activities. But it does mean that you
can probably skip over much of the groundwork on starting new
organisations (sections 2.1 to 2.4).
Knowing where you are starting from
• Avoid preconceptions: Groups of people who are exploring
trading possibilities can easily become distracted by
preconceptions and confused by the assumptions of others
about what they are trying to achieve and which types of
activity are realistic or appropriate or legitimate. In fact, every
new business is different. There are not many rules which apply
equally to everyone who is starting out – the choices are yours.
• Be clear what you want to achieve: So if you are beginning
from scratch and planning to use this guide, you need to think
carefully about where you are starting from and generally what
you are trying to do.
• Share your ideas: It’s also particularly important to share
these with those working with you so you can minimise
misunderstandings and false expectations.
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