Social innovators given a leg up
Entrepreneurs and start-ups in this country have had a hard time recently trying to secure funds. In many cases, businesses have been driven overseas to seek opportunity, when they should have been encouraged to stay.
The Early Stage Social Enterprise Fund aims to reverse the trend of businesses moving offshore by providing social enterprise entrepreneurs with access to capital for improving financial resilience, extending services or products and improving their ability to deliver on their organisation’s mission.
Behind the Fund is Forester’s Community Finance. The organisation’s, Belinda Drew, advised that the finance fund had been created to meet the needs of Australia’s changing social landscape, with both social enterprise and social entrepreneurship on the rise.
“We are seeing more and more social enterprises emerge which is great news for Australia’s social sector, but unfortunately many of these new enterprises are challenged to find the capital and support their need in the early stages of their development.
“Our Early Stage Social Enterprise Fund has been designed with a view put recipients on the road to long-term sustainability. Through capital investment and access to our skills and knowledge network, recipients will be better positioned to deliver on their social enterprise mission.”
Foresters Early Stage Social Enterprise Fund was launched by Allan English, founder of ASX listed Silver Chef and the 2012 Queensland Community Philanthropist of the Year.