New government initiatives for social enterprise
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The Social Enterprise Development and Investment Fund (SEDIF) provides financial support for the start up and expansion of social enterprises in Australia.
“Under the new approach, the Government will provide up to $20 million in one-off grants to qualified social enterprise investment funds which can demonstrate that they can match every dollar of Australian Government funding,” said Parliamentary Secretary for Social Inclusion and the Voluntary Sector, Senator Ursula Stephens.
Senator Stephens is calling for public consultations on the SEDIF, seeking input from the corporate and philanthropic sectors to inform and shape the design and proposed structure of the fund.
The aim of the SEDIF is to build new partnerships between the finance, social and corporate sectors, and to create an independent financing mechanism for the start up and expansion of social enterprises.
The second initiative, the Professional Partnership Project, will match corporate business assistance to social enterprises that aim to help disadvantaged Australians find training and jobs.
Four key professional services firms – Deloitte, Ernst and Young, KPMG and PricewaterhouseCoopers – are providing pro bono business expertise and support to up to 30 social enterprises funded under Round One of the Australian Government’s $650 million Jobs Fund.
“The project represents an important step in the development of long-term partnerships between Government and the private sector to support highly disadvantaged Australians,” Senator Stephens said.
