A social enterprise is a trading entity (for-profit or not-for-profit) that uses its revenue or business model to achieve a social, cultural or environmental mission and deliver public benefit . There are several different impact models from direct benefit, cross-subsidy and profit redistribution. With Governments and corporates increasing their social procurement targets, certification with Social Traders enables access to dedicated social procurement policies. Traditional Owner businesses may fall within this framework but there are also dedicated Indigenous procurement opportunities.

B Corporations, or Benefit Corporations, are for-profit companies that are externally certified by B-Lab to meet rigorous standards of social and environmental performance, transparency, and accountability across 5 areas - workers, customers, governance, environment and community. Businesses wishing to become a B Corp in Australia will need to have or adopt governing documents which include a commitment to a ‘triple bottom line’ approach to business.

Not-for-profit as a descriptor is misleading - not-for-profit organisations must make profit to be sustainable and avoid insolvent trading. It is simply what you do with the profits - Not-for-profit organisations are non-distributing businesses whereby profits are reinvested back into the organisation's mission. They can still pay wages, director fees, take out loans and have structured impact investment. These are capital efficient businesses, often with a variety of tax concessions available recognising the public value they create.

The circular economy business model is a move away from the "take-make-dispose" sequence, instead shifting supply chains to design out waste, minimise resource input by using expensive resources more efficiently, and ensures that economic activity works in harmony with environmental sustainability. There is an increasing prevalence of product stewardship programs (many voluntary but which may become mandatory over time so consider getting ahead of the regulatory headwinds). For companies looking to create circular business models, it is important to consider a strategy - retain product ownership, product life extension or design for recycling - that aligns with the company’s capabilities and resources and addresses the main operational constraints.

Triple Bottom Line (TBL) businesses focus on three pillars: People, Planet, and Profit. This approach ensures that companies measure their success not just through financial gain but also through social and environmental impacts, aiming for a comprehensive view of sustainability and a net positive strategy.