Social Enterprise is a growing global phenomenon as individuals and organisations try to achieve social goals sustainably. It is in its infancy in New Zealand, but in the UK makes up around 3.5 percent of GDP.
The Trust launched its $2.5 million Social Enterprise Fund, as part of its $25 million Special Fund, in a move to proactively support innovation and employment in Canterbury, by providing a business-like approach to addressing key social issues and taking innovative ideas and transforming them into profitable and sustainable change. The Trust is fortunate to have Business Mentors New Zealand on board in a mentoring and support role for successful applicants.
Social Enterprise is a relatively new term for an old concept. The ‘social’ concept is around working towards good outcomes for the community, while the ‘enterprise’ component is around financial sustainability.