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UnLtd Living It

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What we mean is…

Adviser – A responsible adult, such as a parent, chosen by a young person who agrees to be named on the application for an Award, who will be involved in discussions and will be a person to contact if needed.

Alumni – Young people who complete their ventures. Like graduates of a university or past pupils of a school. UnLtd alumni help to build a network of support for each other and for future Award Winners.

Award – A sum of money to set up and run a social venture. This is a grant, not a loan. A spending plan will be planned and agreed in advance. UnLtd will monitor the spending.

Award Manager – UnLtd staff to support the Award Winner. The AM might attend planning, finance and evaluation meetings but can be contacted at any time to act as guide and adviser. It is the responsibility of the Award Winner to keep in touch with the AM.

Award Winner – A person who has convinced UnLtd that he or she has a good idea, a good, business-like plan and the determination to succeed. The Award Winner must lead the social venture as we give our Awards to individuals, not groups.

Foundation for Social Entrepreneurs – A company limited by guarantee. Registered in England No. 4180639. Registered Charity No. 1090393

Reciprocity – “The practice of exchanging things with others for mutual benefit, especially privileges granted by one country or organisation to another”. Giving back what you receive. Not the money! Giving support and encouragement to new Award Winners just as others supported you. This is a vital part of our way of thinking. We ask all Award Winners to join in.

Social Entrepreneur – A person who sets up and runs a venture which aims to make a positive difference to society. For social entrepreneurs, profit is not the only measure of success. Social Venture – This might be an on-going business, an activity or a series of events. It might involve selling things, making things, organising things or doing things for other people. There are many possibilities but social ventures must aim to have a positive impact on people’s lives, improving communities or societies.

Sustainable – A sustainable venture is one which can keep going by paying for itself.

UnLtd – The trading name for The Foundation for Social Entrepreneurs.

Venture – Business project.

Young Social Entrepreneur – A social entrepreneur under the age of 21. UnLtd’s youngest Award Winners were aged 11.