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A move to support social enterprise
18 Nov 2011
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Description

In 2006 the Westpac Foundation redefined it's focus on creating and sustaining social enterprises in disadvantaged communities.

But what is social enterprise?

There are several definitions of social enterprise but 2 key dimensions emerge. The first relates to revenue generation - social enterprises may generate a proportion of their income from running a commercial operation, supplementing traditional not-for-profit funding. The second relates to the entrepreneurial nature of social enterprises and their fresh approach to social problems.

In essence social enterprise is about tackling old problems in new ways - through innovation, entrepreneurial flair and financial self-sufficiency. It is about borrowing the best from business and traditional not-for-profit organisations to achieve maximum social impact.

 

 

Tags
addiction disability homelessness indigenous juvenile justice mental health poverty racism refugees substance abuse women and children young people money management education leading to employment financial inclusion financial sustainability life long learning social enterprise social impact assessment youth and families at risk youth leadership capacity building collaboration innovation philanthropy prevention sponsorship volunteering
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