JCU to grow business

JAMES Cook University has secured a $163,500 grant to grow the social enterprise sector in Far North Queensland.

A social enterprise invests up to 100 per cent of its profits into a social mission.

Several such organisations operate in FNQ and address socio-economic issues such as community housing and employment of marginalised peoples.

JCU professor Dr Narayan Gopalkrishnan will coordinate the grant project and plans to roll it out in three phases: identifying new opportunities, growing existing social enterprise and then synergising the new network to ensure sustainability beyond the life of the grant.

Analysis puts the social enterprise contribution to the Australian economy at $29.7bn. According to the Queensland Social Enterprise Council, these businesses provide 27,500 Queensland jobs.