What's Driving Flywheel?
Nonprofits continuously innovate to creatively meet the needs of their communities. Even in the best of times, it is sometimes a challenge for nonprofits to secure all the resources desired to fulfill their missions.
There's hope in a simple concept that's been around for generations – a concept that's been gaining in popularity in the last decade. It is social enterprise and it is a way for nonprofits to leverage skills, competencies, or assets in new ways, which allows them to bring additional resources to fuel their missions. Social enterprise allows nonprofits to reduce their dependence on charitable donations and grants and continue important social programs through entrepreneurial methods. The business itself can also be a vehicle for social change by helping to transform hard-to-employ individuals into productive citizens, which delivers a significant economic return to the American economy.
Developing a social enterprise requires experience and expertise. Flywheel Social Enterprise Hub's mission is to be the community's thought leader in social enterprise and contribute to the launch and sustainability of social enterprise ventures in Greater Cincinnati, Northern Kentucky and Southeast Indiana. Flywheel helps nonprofits through a step-by-step process of exploration, ideation, validation, design, and launch, which is known to build more meaningful and sustainable social enterprises. In addition, Flywheel will work alongside existing social enterprises to make them even stronger and more impactful in their community.
"We're helping nonprofits control their own destiny – to generate unrestricted sources of income and fuel their mission in an innovative way. Because of this potential, Flywheel holds great promise for the future of many nonprofits." -Suzanne Smith, Flywheel's project leader