Page 104 - Social Enterprise A New Business Paradigm for Thailand

to enact secondary legislation to determine its own objectives and beneficiaries. Scotland and
Wales have used their shares of dormant assets to fund programs related to youth development,

climate change mitigation, and sustainability. Northern Ireland partnered with TNLCF to establish
a £20.5 million fund focused on strengthening civil society, including volunteering, community
work, and social enterprises.

In England, TNLCF allocated the funds to areas such as youth development, financial inclusion for
disadvantaged groups, and social investment initiatives. The distribution is made through key
organizations including the Youth Futures Foundation, Fair4AllFinance, Big Society Capital, and
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Access – The Foundation for Social Investment .
In 2022, the UK government enacted the Dormant Assets Act 2022, expanding the scope of the
Dormant Assets Scheme to cover additional categories such as insurance policies, pensions,

investment assets, and securities. As of 2024, relevant stakeholders, including RFL, HM Treasury,
and participating private-sector entities, are collaborating to ensure the expanded scheme is
implemented effectively in accordance with the new law. To date, the UK’s Dormant Assets
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Scheme has successfully allocated £892 million for social and environmental purposes.

3.3 Social Enterprises in the United States

Scholars in the United States generally agree that social enterprises in the U.S. encompass a

diverse range of organizational forms. These include for-profit businesses engaged in socially
beneficial activities, such as corporate philanthropies or corporate social responsibility initiatives;
hybrid entities that pursue both profit-making and social missions simultaneously, often referred
to as dual-purpose businesses; and nonprofit organizations that operate business activities to
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generate revenue in support of their social goals . Thus, social enterprises in the U.S. are
characterized by an emphasis on revenue generation, which contrasts with European models that
prioritize the role of the state in delivering social services and emphasize inclusive governance,

involving beneficiaries and stakeholders in decision-making alongside income-generating
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operations.

49 Ibid,
50 GOV.UK, The Dormant Assets Scheme, Source: https://www.gov.uk/government/publications/the-dormant-
accounts-scheme,
17 July 2024.
51 Janelle A. Kerlin, Social Enterprise in the United States and Europe: Understanding and Learning from the
Differences, International Society for Third-Sector Research and The John Hopkins University, 28 September 2006,
Springer, p. 248.
52 Ibid, p. 251.
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