Map For Impact report - shows us the characteristics and impacts of social enterprises in Victoria
The idea and practice of running a social enterprise gets trendier each year - it's the 'in thing' - and for very good reasons.
Australian social enterprises operate in every industry within our economy. The ground-breaking Map For Impact report tells us there are 3,500 social enterprises in Victoria, which contribute more than $5 billion to the local economy and employ around 60,000 people. Of those jobs, 12,000 are for people with a disability and 4,000 for long-term unemployed people.
This report has confirmed that Victoria's social enterprise population is diverse and growing. More than half of the businesses have operated for less than ten years, and forty-three per cent of them are located in rural and regional areas.
What do social enterprises see as their biggest opportunity? Seventy-five percent of those surveyed answered social procurement. Government is an important customer to forty-one percent of Victoria's social enterprises and the average size of a government contract, awarded to a Victorian social enterprise, was $473,928. However, before you get too excited, keep in mind that sixty per cent of the social enterprises that win government contracts are established, Melbourne-based enterprises.
However, not all the news is positive. One-quarter of Victorian social enterprises report that they're not yet financially sustainable. In a similar manner to most business start-ups, early-stage social enterprises face the greatest challenges. Other hurdles for the sector include access to development and training, appropriate and affordable finance and the development of accessible and comparable tools so they can measure their social impact.
Read more about this on https://mapforimpact.com.au/
Do you need help to grow your social enterprise? If you're keen to take advantage of new opportunities or you would like to substantially improve what you are doing to make a profit and create a meaningful social benefit, we can help. If you're based in Victoria, you might be eligible up to $25,000 of support through the Social Enterprise Capability Voucher Stream.
Applications for this support close on the 2nd March 2018.
Interested? Contact us; we'd love to hear from you.