This empirical study analyses current conceptions regarding the social business model in Lithuania. Social businesses seek to maximize social welfare by applying business practices that recover costs and pass profits to customers, who benefit from low prices, adequate services and better access to social amenities. A hybrid social business model is one in which the main goal is to maximize economic value and explore international markets by the use of partnerships and social profit. Modern businesses engage to create socio-economic value for society by solving social problems; therefore, the objects of social business models are analysed. Our results advance the understanding of adoption of best practices related to social business models in Lithuania and determine the recipients of the benefits accrued.