New Support Service for Social Enterprises

The Federal Government has established of a national business development support service for social enterprises receiving Australian Government funding.

The Gillard Government will provide $1 million to establish a support service for Australia’s social enterprises.  The Minister for Employment Participation and Child Care, Kate Ellis made the announcement  at the recent Jobs Australia conference in Melbourne.

Minister Ellis says the funding will build on the $20 million Social Enterprise Development and Investment Fund, which builds partnerships between the finance, social and corporate sectors.

Ellis says the Government wants to ensure that social enterprises are viable and vibrant operations, so they can continue to assist disadvantaged Australians to find training and jobs.

She says the new development support service will seek to ensure the ongoing viability of social enterprise activities, to strengthen business planning and identify financing options.

The Social Enterprise Development and Investment Fund is designed to provide loans and support to social enterprises. These loans are aimed at increasing the sustainability and self-sufficiency of Australia’s small but growing social enterprise sector.

Minister Ellis says the Government has continued to take steps to enhance its investment in social enterprises through projects such as Mission Australia’sWorking Futures Initiative project, which will research how social enterprises could be best supported to employ highly disadvantaged job seekers on a sustainable basis.

More than 130 individuals and organisations have already registered to be part of the consultation and discussions for SEDIF. Consultation on the fund will run until 3 December 2010.

For more information on SEDIF and the Government’s Social Inclusion Agenda, visit www.socialinclusion.gov.au