So­cial in­no­va­tors given a leg up

Business First - - NEWS -

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.

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