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Why Singlify chose to be a Social Enterprise

Singlify Ltd is a UK-registered company limited by shares. That means we’re a conventional trading company that can make profits and pay a dividend to shareholders. But we aren’t that interested in taking profits out of the business to benefit our shareholders. We’ve established Singlify Ltd as a social purpose company. To do this we have adopted the Purposely Model 3 articles into our constitution. This means the company is governed by a primarily social purpose.

Singlify’s primary social purpose is to provide best in class and affordable technology solutions to social sector organisations and result in a material positive impact on society and the environment.

We will seek to make a surplus of income over expenditure. We need to do this to have money to re-invest in the business to grow it and ensure it is a sustainable business that will be around for as long as our customers need us.

We have secured some initial investment from the Connect Fund. This social investment provides us with some seed capital to help get Singlify off the ground. We’re using this money to help build the application.

We have been formed by a group of people that have worked for charities and social sector organisations for many years. We understand the needs of social sector organisations and how best to meet them with technology. We know that this means we have to be a company that social sector organisations want to do business with and can trust.

We have also signed up to the Responsible Business Principles developed by Blueprint for Better Business and included them in our constitution. These are:

  1. Has a purpose which delivers long-term sustainable performance
  2. Honest and fair with customers and suppliers
  3. A responsible and responsive employer
  4. A good citizen
  5. A guardian for future generations

Our key values are:

  • Trust
  • Customer focus
  • Innovation
  • Transparency
  • Learning