Guide to Giving
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Good Business, Politics, Social Enterprise

Government Calls for New Funding Options for Social Enterprises


Monday, 10th January 2011 at 3:35 pm
Staff Reporter
The Federal Government has called for proposals to establish new banking and financial services for social enterprises in Australia.


Monday, 10th January 2011
at 3:35 pm
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Government Calls for New Funding Options for Social Enterprises
Monday, 10th January 2011 at 3:35 pm

The Federal Government has called for proposals to establish new banking and financial services for social enterprises in Australia.

The Gillard Government announced in July last year that it would make $20 million available for social enterprises through the establishment of the Social Enterprise Development and Investment Funds (SEDIF).

Now the Government is calling for banks, financial institutions and other entities to submit proposals to match the Government’s investment and grow the investment pool to $40 million.

Minister for Employment Participation and Child Care, Kate Ellis says that these new social enterprise funds will help to address the difficulties that social enterprises can face in accessing private capital for the development of businesses.

The Department of Education, Employment and Workplace Relations (DEEWR) has released guidelines that the department hopes will bring Government, social enterprises and the investment sector to ensure that Australian social enterprises have a strong future.

Minister Ellis says the guidelines will support organisations with relevant investment expertise and capability in applying for a one-off Government grant, to help establish funds that will provide seed and growth capital for social enterprises,” Ms Ellis said.

She says social enterprises will benefit from access to qualified fund managers in securing the funds that will enable social enterprises to extend their reach and impact.

By working more closely with banks and other financial institutions, Ellis says social enterprises will be assisted to ensure their ongoing sustainability and ensure the application of sound business principles.

The SEDIF complements the Government’s Jobs Fund and Innovation Fund, which have invested over $74 million in over 100 social enterprises.

The SEDIF Guidelines are available here, with applications open until 18 February 2011.

For more information visit www.deewr.gov.au/Department/Pages/GrantOpportunities.aspx

Flickr Image (Above): Some rights reserved by HowardLake



Guide to Giving

FEATURED SUPPLIERS


Yes we’re lawyers, but we do a lot more....

Moores

Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

...


More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

Thinkers Look to Melbourne to Grow SA Purpose Economy

Wendy Williams

Thursday, 21st September 2017 at 4:44 pm

Mental Health Groups Call for Same-Sex Marriage to Prevent Suicide

Luke Michael

Thursday, 21st September 2017 at 4:24 pm

Australian Organisations Score in the Top 10 Per Cent of B Corps Globally

Luke Michael

Monday, 18th September 2017 at 5:03 pm

POPULAR

Moves to Stop Volunteering at Overseas Orphanages

Luke Michael

Wednesday, 13th September 2017 at 1:54 pm

Future Uncertain for Disability Organisations Following Funding Cuts

Wendy Williams

Tuesday, 19th September 2017 at 8:29 am

Majority of NFPs Are Not Believed to be Well-Run, According to New Survey

Luke Michael

Tuesday, 12th September 2017 at 4:14 pm

More Australians Are Giving Time Not Money

Wendy Williams

Monday, 11th September 2017 at 5:07 pm

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


Guide to Giving
pba inverse logo
Subscribe Twitter Facebook

The social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!