"I'm a pro-wrestler," says Richard Lees, a 22-year old from Colwyn Bay. "I've been doing it for 12 years and was the youngest champion in the UK at 18. When I moved to Wales after my parents split up, people recognised me and asked me to teach their kids. I didn't have any money to start up a business, so I got in touch with a friend who showed me how to get a grant."

Richard's business training young wrestlers is an example of a social enterprise. He works within his community, using his skills to help local youngsters who he believes would otherwise be out getting into trouble. "As a teenager my friends and I and got bored and got in with the wrong crowd because we had nothing else to do," he says. "It costs a fortune for families with low incomes to give kids activities to do in the evenings, but because my business is a not-for-profit, everything we make goes back into the club. We can offer cheaper lessons and don't have a uniform."

Stuart went from bedroom DJ to running his own successful underage club night.

Richard's work has been recognised by the local police and council. "They often send students to me after they've been involved in petty crime - it gives frustrated kids a work out and a way of releasing anger."

There are around 55,000 social enterprises in the UK. Between them, they represent 5% of all businesses. The UK's best-known social enterprise is probably The Big Issue, which is sold by homeless people, enabling them to earn money and develop skills.

Have you got the drive to be an entrepreneur?

 "Simply, a social entrepreneur is someone who uses entrepreneurial characteristics and traits for a social mission or benefit," explains Nick Temple of The School for Social Entrepreneurs. "Someone who is prone to action, prepared to take risks but also to take responsibility, and has a vision of where they're heading. They also need to be resourceful, committed and persistent."

"I've known too many people hit a brick wall and wonder what the point is," says Richard. "I hit walls all the time, but you have to carry on. The main hurdle for us has been the sheer cost of things, like insurance and overheads, because we're a small company. We've also had a rival company poaching our teachers. You are up against a lot."

Social enterprise guru John Elkington, founder of social enterprise SustainAbility and author of The Power of Unreasonable People, says social entrepreneurs tend to be people who, rather than adapting to the world around them, seek to change it. He also suggests profit isn't usually the main motivator for social entrepreneurs. They're likely to place more value on social or environmental improvements.

Get support and financial backing

If you're young and have a great social business idea, you're in luck. There are several organisations set up specifically to help 16-30 year olds kickstart a new venture.

Richard got a grant came from Live Unltd, an organisation which gives grants of up to £2000 for 16-21 year olds interested in setting up a social enterprise. "I didn't think I'd get anywhere but there are people willing to help," he says. "I had great support and business advice from Live Unltd, who always went out of their way to help me."

Setting up on your own will probably mean making mistakes, but these can be valuable learning experiences. According to Louis Barnett, who became one of Britain's youngest entrepreneurs when he set up his first business at 16, coming close to bankruptcy once "was worth hundreds of pounds in experience".

Network with other entrepreneurs

Social entrepreneurs need excellent networking skills. Any new business needs backers, but social enterprises especially so. Using social networking is an important way of getting your idea out there and finding out who your competitors and rivals are. Blogging will help establish your reputation as an expert in your field and can help get you media exposure.

First steps to success

In their early stages, businesses demand a lot of time and energy. You'll be working long hours for very little money.  Unless you're a mathematical genius with a natural understanding of tax return forms, getting an accountant will make your life much easier. You can claim the accountant's fee back against tax. Bargain.

Richard also suggests doing a basic web design course. "Creating my own website helped reduce overheads," he says.

Updated: 17/01/2012