Department for the Economy NI’s Post

My social enterprise Yma is fortunate to be part of a rich network of purpose-driven businesses through Social Enterprise UK. I don't make enough time to read papers and articles, yet this morning I was drawn to two publications in my inbox from this network. The first is the Future Economy Alliance's "Business Plan for Britain" where the role of the "mission-led organisation" is positioned as the future of our economy. This quote in particular struck a chord: "Mission-led businesses currently represent around 5% of UK businesses, create around four million jobs and as much as 10% of GDP, re-investing more than £1bn of profits in communities.1 If all businesses had a mission at their heart, UK GDP could be 7% larger, the lowest paid workers could receive an average £44/week pay rise, investment as a percentage of GDP could increase by 3% and R&D expenditure could increase by £135bn. " The second was SEUK's own quarterly review "Social Enterprise Barometer - Expectations for 2024" where the largely positive outlook and expectations of social enterprises is set out, despite challenges around lack of sufficient and suitable government and local authority support. The time I took to read and reflect on these papers was time well spent. It has galvanised my sense of quiet optimism. As an organisation without any core funding, the constant scramble for business, contracts and grants can feel relentless. And I do believe that every time we get a chance to share the magic of working with a social enterprise like ours, with partners and customers, another seed is planted for what possibility exists in a brave new mission-led future! https://lnkd.in/eBHtUYEe https://lnkd.in/e3DJvdAr https://www.dymani.cymru/

How to build successful partnerships between the private sector and social enterprises? With this question in mind, the BuySocCirc project interviewed 33 European social enterprises to investigate how to develop partnerships between the private sector and social enterprises. Interestingly, the findings can be applied to any kind of relationship! 💡 🗓️ A long-term commitment: clearly, to build a stable relationship, it's best to favour long-term partnerships! This fosters trust between organisations, creating a more lasting impact and greater stability for social enterprises. ⚖️ Flexibility: everyone wants a partner who takes their needs into account! A mutual understanding of the reality of both organisations enables meaningful partnerships to be developed and personalised solutions to the challenges faced by social enterprises. 🤝 Investment: neither you nor the social enterprises want to commit to a relationship if there is no investment on both sides! To collaborate, social enterprises need a minimum of infrastructure to put processes in place and build capacity. Collaborations with private companies can provide the means to support the activities of social enterprises and, consequently, increase their social impact. 🔜 Stay tuned for more updates as we continue on our journey towards forging successful partnerships with the private sector. #socialenterprises #buysocial #partnership #privatesector #circulareconomy

Is it fair to ask social enterprises to solve government and institutional failure? 🤔 (This question keeps me up at night.) Social enterprises and impact-driven businesses step up where traditional systems fall short—healthcare, education, climate action, social care, and more. But here's the catch: These businesses are often stretched thin, balancing purpose with profit. They're plugging gaps that governments were meant to address. Should they shoulder this responsibility? Or are we letting institutions off the hook? I believe that social enterprises create real change. But we also need robust systems to support them. It's not a competition—it's a partnership waiting to happen. What’s your take? Should impact-driven businesses be seen as the fix or as part of a broader solution? Let’s discuss this in the comments. 👇 P.S. If this resonates, consider resharing. Someone in your network might have insights worth hearing. #SocialEnterprise #SocialEntrepreneurship #SocialImpactInvesting #ImpactInvestment #SocialFinance

I have recently completed a Social Enterprise RISE course, this included: feasibility, finances, marketing, legal structures and launching of social enterprise. Social Enterprise is increasingly referred to in society, the economy and government therefore will be helpful when gaining a placement and for further studies. #humansofmcrmetrise

Today I tuned in to the Zoom hui organised by Hui E! Community Aotearoa with Nicola Willis MP for the community sector The Minister shared an encouraging vision for the new Social Investment Agency. Here are my takeaways: 👍 • Definition: Social investment means different things to different people, and the sector's diversity is acknowledged and celebrated. 👍 • Data isn’t everything: Using data, tools, and evidence to drive earlier and more effective outcomes, while recognizing that data alone can't capture the full picture. 👍 • Empowering agencies: Shifting the focus from managing to empowering social agencies to meet community needs. 👍 • Outcome based: Introducing outcome-based social investment contracts to improve how investments are administered. 👍 • Consultation: Establishing a social investment fund in consultation with treaty settlement agencies, iwi, and other stakeholders which will potentially become a hubs for attracting and distributing philanthropy. 👍 • Valuing community organisations: Emphasizing that government doesn't have all the answers and highlighting the importance of listening to grassroots providers and regular meetings with peak bodies. 👍 • No need for expensive social impact reports: instead focusing on practical, impactful solutions. 👍 • Early Childhood Focus: Stressing the importance of the first 2,000 days in a tamariki's life while considering the positive contribution that will be made by the entire whanau. 👍 • Local Knowledge: Valuing the insights of those closest to the families in need. And here is a link to a blog I wrote 👏 😁 https://lnkd.in/gBnjhTGn #SocialInvestment #CommunityEmpowerment #Philanthropy

I have just completed the RISE Self Study course ‘Social Enterprise’. This course gave me an insight into the role of social enterprise in tackling issues and needs (economic, social, environmental and societal). It equipped me with the knowledge of how to form one by looking at the feasibility, financing, marketing and legal structures for social enterprises. #humansofmcrmetrise

A big thanks to Finance Minister Katy Gallagher and Senator David Pocock for the discussion and engagement today on procurement reform for greater social, community and Australian economic benefit. The passion and innovation in the room was palpable and I’m so encouraged with strong advocates such as Senator Pocock and the genuine consultation and openness of Minister Gallagher to listen and consider the many suggestions for improvements. Some key take aways from me included: 1. The UK Social Value Act 2012 really made a difference when procurement language changed from “should consider social value” to “must evaluate social value”. Now is the time to build social value into the Commonwealth Procurement Rules with clear language 2. Local SMEs and Social Enterprises will have an advantage in the overall consideration of “Value for Money” if this additional social value is weighted in evaluation criteria and procurements are monitored to ensure compliance. We reflected on the Victorian effort in the implementation of the Victorian Social Procurement Framework (Jessica Z. Sam Edmonds) 3. Panels and current procurement practices are rife with opportunities for improvement (plenty of tough stories and experiences of exclusion from the SMEs in the room). To solve that we need a systems and organisational change approach. That is what Social Traders has developed over 8 years of deeply embedding social enterprise into business and government supply chains. Looking forward to continuing the work to embed social value in buying decisions! Dr Daniel Mulino Julian Hill Andrew Leigh MP Alana Walsh Thomas Emerson Alison Pennington Isla Pawson Claudia Crawford Nick Terrell Philip Nigg Fiona Scott Tara Anderson Kate Russell Cheryl Gray

I observed that the national government focuses more on the social sector, which is essential for human development and well-being. However, for sustainable growth and resilience, balanced attention is needed between social investment and industrial development. The social sector improves the quality of life, while the industrial sector provides the economic foundation needed to support social programs in the long term.

Last week, we launched our first Inclusive Business Investing Guide: https://lnkd.in/eVTcK6TW In a world grappling with increasing inequalities, we believe inclusive businesses offers an opportunity for investors to meaningfully contribute to improving the quality of life of lower-income populations. That's because they engage and create value for low-income workers and entrepreneurs, and play a key role in addressing poverty and inequality. Investors are crucial in supporting inclusive businesses increase their impact, but there have been few practical resources to fall back on when developing an inclusive business investing strategy. We hope to change that with this guide, because by enabling investors to utilize an inclusive investing lens in their work, we can jointly unlock the power of the private sector to support #ReducingInequalities and increase impact at the base of the pyramid. Access the Inclusive Business Investing Guide below.

There has been new momentum on #socialenterprise at a national level since the Labour Government’s budget announcements last year to boost social enterprise. We are now seeing those commitments flow into action with last week’s announcement of the Department of Social Services (DSS) Social Enterprise Development Initiative (SEDI). The SEDI grants are for capability building initiatives for social enterprises and we note that this time round the capability building has a broader remit – which is good news for social enterprises. GoodWolf Partners has deep social enterprise expertise and is open to partnerships for SEDI. Our work spans across: ◾ Governance ◾ Business planning ◾ Investment ◾ Impact measurement ◾ Operations & Innovation This is a fantastic opportunity for Australian social enterprises and enterprising not-for-profits. We note that many organisations might not know they are operating as a social enterprise so if you're unsure get in touch. We’d also like to applaud the work of those in the sector who have played a part in charging the new momentum at a national level – Social Enterprise Australia, Social Traders, White Box Enterprises, Jess Moore, Tara Anderson, Luke Terry Belinda Morrissey Kirsty Fiddian and countless others! Nina Yousefpour Simon Lewis Claire Hanratty Hannah Durack #purposeinpractice