Wealth, Social Enterprise and the FairShares Model

This conceptual and empirical paper explores how the fields of social enterprise (SE) and sustainable development (SD) problematise the concept of wealth and reframes it to include non-financial outcomes. Using discussion documents published by the International Integrated Reporting Council (IIRC) and FairShares Association, we articulate an argument that wealth can be conceptualised as access to six forms of capital (natural, human, intellectual, social, manufactured and financial). We deploy this framework to investigate the wealth creating capabilities of different types of SE, then apply it to a case study of Resonate Co-operative Ltd. Resonate was chosen on the basis that it applied the FairShares Model (FSM) to music streaming services to alter distributions of power and wealth to benefit music makers (labour) and music fans (consumers). Its co-operative model of inclusive SE development aligns SE with SD through structures and systems that recognise and reward each form of wealth contribution. We conclude that it offers a coherent framework for aligning SE and SD.