In the year 2008, the Fullness Christian Social Enterprise Limited ("FCSE") was created as a commercial-based subsidiary company of Fullness Christian Vocational Training Center, a locally registered charitable organization with a Christian foundation, which managed three hair salons in Hong Kong: Fullness Hair Salon, Assistant Hair Salon and 100% Fullness Hair Salon.
Regardless of the most non-governmental organization ("NGO") social enterprises, the FCSE was the first local social enterprise to employ a corporate legal form to raise capital from outside investors. The FCSE had a powerful assignment to address societal problems, especially by providing employment and training opportunities to ex-offenders and children that are unengaged. Without strong financial support from its NGO parent, the FCSE managed on a commercial basis to be able to stay competitive and maintained fiscal sustainability while being successful in reaching its social agenda. The FCSE used its government practices and market -based performance measurement systems as a way to keep this equilibrium and address the interests of other stakeholders and investors.
PUBLICATION DATE: December 12, 2012 PRODUCT #: HKU999-PDF-ENG
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