- Social Enterprise Fund grants program launched
- $10million over two years to support social enterprise
A grants program to develop and support social enterprises in the not-for-profit sector was launched today by Community Services Minister Robyn McSweeney.
Mrs McSweeney made the announcement at Brightwater Care Group in Subiaco. She said the program aimed to increase the number, effectiveness and efficiency of social enterprises in Western Australia.
Social enterprise is the next frontier in delivering social aims by sustainable means.
Social enterprises are organisations that:
- are led by an economic, social, cultural or environmental mission consistent with a public or community benefit
- trade to fulfil their mission
- derive a substantial portion of their income from trade
- reinvest the majority of their profit/surplus into the fulfilment of their mission.
“This grants program will help establish and strengthen social enterprises in our State,” Mrs McSweeney said.
“Funding will be available through two streams: one for investment-ready enterprises with a sound business plan in place; there will also be seed funding for organisations whose enterprise idea requires further development and support.”
“Other types of social enterprises to be supported are enterprises that create social value through trading, such as community employment. The Big Issue is a good example of this.”
Social Ventures Australia is leading a consortium of partners to provide specialist support to potential applicants and build the entrepreneurial capacity in the WA not-for-profit sector.
The members of the consortium are: Social Ventures Australia; Social Traders; Social Innovation in Western Australia (SiiWA); Centre for Social Impact (UWA); and the Western Australian Council of Social Service (WACOSS).