About Impact Compass

Designed with a Scottish context in mind, Impact Compass works as an interactive quiz. By asking entrepreneurs what is important to them when it comes to purpose, accountability, ownership, and profit distribution, the quiz will guide them towards the most suitable business type(s) based on their answers.

Whether a co-operative, social enterprise, or purpose-led business, the results will also offer a collection of carefully curated resources to help entrepreneurs navigate the Scottish start-up ecosystem of support.

The results of the quiz are relevant to the Scottish context. There is no legal definition of social enterprise in the UK. In Scotland, social enterprises are often recognised by their ‘asset-lock’, i.e. a legal promise stating that the company's assets will only be used for its social objectives and limiting the money it can pay to shareholders. In the rest of the UK, social enterprises tend to be defined by their activities rather than their legal structure.  

The results of the quiz are not definitive, and the best choice of legal structure will depend on your idea, ambitions, funding requirements, and personal circumstances. The quiz results can provide you with a helpful starting point, but you should speak to a Business Advisor for initial advice, or a qualified Legal Expert for a more detailed discussion of the responsibilities, risks and benefits of different business structures.