Many VCs supportive of Social Enterprises talk of DBL investment.What exactly does that mean? I get some indication from DBL. DBL Investors assists its portfolio companies in achieving a “double bottom line”: that is, strong long-term financial success as well as positive social, environmental and economic impact in the local community. Double bottom line practices that companies choose to adopt can be significantly beneficial to the fiscal bottom line both via direct benefits of cost savings and value creation, and via indirect benefits of creating goodwill with their market, customers and community, and enhancing employee morale and retention.
Some examples of double bottom line practices:
• Local hiring, particularly qualified residents of low and moderate income communities
• Employee development, training for advancement, and continuing education
• Employee education on topics including healthcare, childcare, profit sharing, home ownership, financial literacy and personal finance management
• Understanding and applying local and nearby liveable wage ordinances
• Hosting educational sessions for the community on topics including healthcare, childcare, profit sharing, home ownership, financial literacy and personal finance management
• Contracting with qualified local, women, and minority suppliers and contractors, in areas such as line-of business and/or building and property maintenance services
• Pollution and waste reduction: encouraging carpooling and public transit, waste minimization, and recycling
• Energy conservation and resource efficiency: “green” building design, construction and operation
• Positive relations with the local community, including facilitating employee volunteering and charitable contribution, and working with local organizations and non-profits
• Assisting local schools by participating in career days, tutoring, mentoring and internship programs
• Maintaining positive relations with local, regional, state, and federal agencies in relation to regulatory compliance, permitting, and accessing resources and financial incentives
• Encouraging employees to patronize businesses in the local community
• Other programs specific to the company’s line of business and collective interest.
Are they different from CSR!