Social Enterprise Sector: Quarterly Update (Q3 2021)
The social enterprise sector is multi-faceted, spanning the worlds of social innovation, charities and not-for-profits, social finance and impact investing, philanthropy and more. With so much going on in each of these domains, it is easy to get caught up in the day-to-day and miss out on opportunities that could advance your organisation and fundamentally transform the lives of those you exist to serve.
Running a social enterprise is crazy hard work that doesn't get easier with time. You can never afford to take your eye off the ball, especially when you only have so much capacity and resources at your disposal. We get it. That is why finding the time to stay across what is happening can very difficult, even for the most seasoned, time-efficient changemaker.
The trick is to stop trying to read everything out there. There’s too much. And you’re too busy. To make your life that bit easier, we have teamed up with Social Change Central to put together this bite-sized quarterly update filled with the most important developments and activities in the impact sector- it's all you need to stay informed and up-to-date.
So, without further adieu, here is a summary of what happened in the third quarter of 2021...
JULY
It was publicly announced that Brisbane, Australia will host the Social Enterprise World Forum (SEWF) in 2022.
Two parts of a three-part report presenting the considerations, findings and recommendations for an Australian Social Enterprise National Strategy were released.
The Australian Social Enterprise Unconference brought together changemakers from across the country to discuss who we are, what is unique about our sector, and what message we would like to tell the world about the work we do.
ASENA (Alliance of Social Enterprise Networks Australia) submitted a response to the Federal Government's draft of its New Employment Services Model (NESM) advocating support for job-focused social enterprises.
Impact Investing Australia released their latest report, which presents learnings and stories on the Impact Investment Ready Growth Grant over the last six years.
Equity Trustees awarded a five-year grant of $500,000 to First Australians Capital (FAC), an Indigenous-led organisation that helps Aboriginal and Torres Strait Islander entrepreneurs to start and grow businesses.
A $30 million NSW Social Impact Outcomes Fund (SIOF) was established under the 2021-2022 NSW Budget, to pilot a range of social impact investments.
White Box Enterprises announced it is co-creating a pilot Payment-by-Outcomes (PBO) initiative with the sector and the Commonwealth Government in the hope that it will lead to a systemic change in how work integrated social enterprises (WISE) are funded. Data collected shows the factors that influence success in achieving the kind of long-term, life-changing employment that social enterprise create for people excluded from mainstream work.
Alberts officially announced its first $16m early-stage impact venture fund.
Westpac Foundation awarded $1.25 million in grants to over 100 local social enterprises and not-for-profits who are creating job opportunities and providing training and education to enhance employment readiness for people experiencing disadvantage.
Impact Boom's bus tour involved a jam-packed day exploring a range of social enterprises and the growing movement on the Sunshine Coast.
A handful of Brisbane philanthropists get behind a new early-stage venture capital fund ImpaQt that wants to raise $25m to invest in firms solving social and environmental problems.
Impact investing advocates say Australia needs to keep pace with fast-moving global developments or risk being left behind.
ALDI Australia becomes the first Australian member of the Slave-Free Alliance, a social enterprise that works with and supports businesses to create a supply chain free of slavery.
Impact Investing Australia announced Impact Investment Ready Growth Grants will continue and the ten social enterprises awarded $30,000 Resilience Grants.
AUGUST
Social Traders announced $222m has been spent with Certified Social Enterprises in the past three years.
SENVIC (Social Enterprise Network Victoria) search for two established or emerging social enterprise leaders to join their Board.
The Paul Ramsay Foundation announced the appointment of Professor Kristy Muir to the newly created role of Chief Alliances Officer.
Red Hat Impact successfully raised $300k to build the first version of LendForGood.
Business News featured the growth of Western Australia's social enterprise sector and the dire need for catalytic and leverage impact investment from the McGowan Government.
SECNA (Social Enterprise Council of NSW & ACT) invited expressions of interest to serve on their Member Engagement and Partnerships Committees.
Enterprising Stories: The Crystal Ball took a global and a local view of where Australia can go as a social enterprise community.
Amy Orange and David Pearson co-authored an important opinion piece on the opportunity social enterprise presents to accelerate and amplify economic and social recovery.
A new, affordable innovation space in the heart of Sydney is set to boost the city’s startup ecosystem and economy, create more jobs, strengthen global connections and support action on climate change.
Infoxchange launched the Digital Transformation Hub to help Australian not-for-profits build digital capability and resilience.
IPA released a short video on 'The State of Social Procurement in Australia & New Zealand 2021' report featuring Jo Barraket.
The Social Enterprise National Strategy Advisory Council look for a Project Lead.
Impact North, QSEC (Queensland Social Enterprise Council) and SENT (Social Enterprise Network for the Tropics) sough to understand how they can better support social entrepreneurs in Northern Australia.
SENVIC (Social Enterprise Network Victoria) look for two non-executive Directors to join the Board.
Australia’s first centre dedicated to Indigenous businesses and entrepreneurs, the Dilin Duwa Centre for Indigenous Business Leadership, opened in Victoria.
COVID crisis leads to social enterprises that we know and love having to close their doors permanently.
Hireup secured $40m in funding as part of a long term strategic partnership with SEEK Investments, following early support from impact investors.
Australia’s media and marketing businesses lend creative skills and donate more than $10 million in inventory for social enterprise MOOD tea to help prevent youth suicide.
Enterprising Stories: Global Movement, Local Impact explored broader international movements that may influence the near term future of social enterprise here in Australia.
Report by The Circular Jobs Initiative finds the circular economy will benefit from social enterprises becoming better integrated and more widespread.
SEPTEMBER
The Insights from the 2021 Australian Social Enterprise Virtual Unconference report was released.
This year's digital Social Enterprise Summit for Northern Australia (SESNA) is announced.
Social Impact Hub launch the Social Enterprise Legal Toolkit: A new fit-for-purpose toolkit developed designed to guide for-purpose entities on their legal structure and constitution.
Social enterprise sector leaders appointed to five government-community partnership boards across Metropolitan Melbourne.
Impact Seed, who are leading development of the social enterprise sector in Western Australia, look to hire.
Melbourne-based impact investment venture capital firm Giant Leap closed a $15.8 million fund to target start-ups that make a positive difference to the world.
StartSomeGood and First Innovators launched the first Indigenous Crowdfunding Program.
16 high potential impact enterprises joined the Homebase Elevate+ Accelerator.
Social Impact Hub and Sefa secured funding from the NSW Government as part of the Social Sector Transformation Fund, a $10 million investment that aims to support small not-for-profit organsations to modernise their operations.
The Social Enterprise National Strategy Advisory Council continue to look for a Project Lead.
The launch of the Victorian Social Enterprise Strategy 2021-2025 is announced.
Seven Canberra and NSW regional small businesses are selected to participate in the 2021 Mill House Social Enterprise Accelerator Program, GRIST.
Queensland Government’s Social Enterprise Jobs Fund announced grants of up to $25,000 for established Queensland social enterprises.
Impact Investing Australia made changes to the Impact Investment Ready Growth Grant program.
Enterprising Stories: Unwrapping the Unconference looped back to the Social Enterprise Virtual Unconference to unpack some of the key learnings and insights from the event.
Impact North officially launched a co-working space in the heart of Darwin, NT.
The Paul Ramsay Foundation, Australia’s largest grant funder, shared they’re aiming to push their impact investments towards $300 million.
Social enterprise Who Gives A Crap closed a funding round of $41.5 million.
White Box Enterprises announced they are building a new jobs hub in Brisbane's CBD.
The Catalyst 2030 People’s Report was released.
Healthtech startup, Umbo, scores a $200,000 impact investment to help regional families.
The Upper Hunter Region in NSW is working towards economic diversification, resilience and regional prosperity. One of the strategies being explored is building an impact economy through a social and/or impact enterprise strategy. Get in touch with Ethical Fields for more info.
SENVIC (Social Enterprise Network Victoria) launched a self-paced learning program on how to plan, build, and launch a successful social enterprise.
The Social Enterprise World Forum 2021 took place on 28-29 September. To formally mark the Forum coming to Australia in 2022, this year's host, Halifax, Nova Scotia, handed over the baton to Brisbane during the conference. Early bird tickets are now available for purchase.
While not comprehensive, this summary highlights the sector developments and activities that we believe would be most beneficial for social enterprise and purpose-drive organisations to be aware of. The information included is accurate to the best of our knowledge as of 1 October 2021. If there's something important we missed, let us know! Leave a comment or email us at enquiries@socialimpacthub.org.