Good Space Enables Social Impact Enterprises to Survive and Grow

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 While working as a journalist covering the fields of the Social and Solidarity Economy and social innovation, there was one question I frequently asked founders and managers of social impact enterprises. Even when I did not raise it myself, I often heard the same question discussed at forums and seminars:


“What is the most essential factor in running your organization?” ❓


Most social impact entrepreneurs gave remarkably similar answers. To operate their organizations in a stable and sustainable way, they need a reliable space—a physical place where their teams can work. And they emphasized that this space is not optional; it is essential.

 

Although workplaces in South Korea, like many parts of the world, are increasingly shifting toward digital environments, gathering in an offline space remains highly significant. For social impact enterprises, space is more than just a workplace. Especially for organizations that pursue both value and profit, space becomes a site where their mission is carried out and their identity is expressed.

 

During my time as a journalist, I worked in a coworking space shared by many social impact enterprises.This photo was taken in a small private room where I often retreated to write my articles.(Photo by Milly) 

Why Space Matters to Social Impact Enterprises

 

Space holds a particular meaning in business operations. For social impact enterprises, its importance is even greater.

 

👍Trust and Identity

 

Social impact enterprises simultaneously “sell” products or services and social value. Unlike products, social value is often intangible. To gain the trust of partners, consumers, and stakeholders, organizations need ways to demonstrate what they stand for.

 

A physical space can serve as tangible evidence of a company’s mission and philosophy. The design of the space, the activities taking place within it, and the people who gather there all communicate what the organization represents. In this sense, space becomes part of the enterprise’s identity.

 

✌Collaboration and Synergy

 

In Korea, there is a concept known as a “food alley”—a street where restaurants selling similar dishes cluster together. Even though the restaurants may offer the same type of food, each has its own distinctive flavor. Customers intentionally visit these streets because the concentration creates both competition and synergy.

 

Social impact enterprises function in a similar way. When mission-driven organizations gather in one place, even if they operate in different sectors, opportunities for collaboration and experimentation increase. Proximity fosters spontaneous conversations, partnerships, and joint projects. Through this clustering effect, enterprises grow and develop more innovative solutions.

 

👌Resource Efficiency

 

At the same time, space inevitably involves costs—rent, utilities, and maintenance. For smaller social impact enterprises, these expenses can pose a significant burden. As a result, many choose to work in shared offices.

 

In shared office models, individual teams may have separate work areas while sharing meeting rooms, event spaces, and other infrastructure. This arrangement reduces operational costs while enhancing long-term sustainability.

 

How Are Spaces for Social Impact Enterprises Operated in Korea?

 

Given the financial pressures many organizations face, both public and private sectors in Korea have developed models to provide affordable shared spaces for social impact enterprises.

 

Publicly Led Hub Spaces

 

Publicly operated spaces are distributed across Seoul and other regions of the country. Although their number remains limited and often concentrated in specific areas, they play a crucial role for organizations in need of affordable workplaces.

 

In Seoul, for example, each district operates a Social Economy Support Center, an intermediary organization that provides shared office spaces and other support services. These centers enable local social impact enterprises to access workspaces at relatively affordable rates.

 

Privately Led Social Hubs

 

Seongsu-dong, a neighborhood in Seoul, is often referred to as “Social Venture Valley” because of the concentration of social impact enterprises and nonprofit startups located there. A key reason for this clustering is the presence of “Heyground,” a private social innovation hub that offers reasonably priced office space for mission-driven organizations.

 

Around Heyground, various organizations have built networks, collaborated on projects, and experimented with new approaches to social change. In this context, space functions not merely as real estate, but as a platform for innovation.


👉Read related articles 
Two Key Areas Behind the Growth of Social Economy in Seoul: Seongsu and Bulgwang


Space Is Not Just a Real Estate Issue

 

The spaces used by social impact enterprises should not be understood simply as property support. Within these spaces, organizations conduct experiments aimed at solving social problems in sustainable ways.

 

Rather than viewing space as a subsidy or a rental discount, it may be more appropriate to see it as an investment in social problem-solving infrastructure. Even in relatively small offices, significant and sometimes transformative experiments are taking place.

 

In your own region, what kinds of spaces are available to social impact enterprises? And within those spaces, what kinds of social change experiments are unfolding?

 

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