FIA Conference
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Good Business, Social Enterprise

Agility Key to Social Enterprise Success


Thursday, 7th April 2016 at 11:24 am
Ellie Cooper, Journalist
While successful social enterprises are resourceful, agile and dynamic in their balance of social purpose and commercial focus, the industry as a whole requires more tailored financial support structures, according to a new study.

Thursday, 7th April 2016
at 11:24 am
Ellie Cooper, Journalist


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Agility Key to Social Enterprise Success
Thursday, 7th April 2016 at 11:24 am

While successful social enterprises are resourceful, agile and dynamic in their balance of social purpose and commercial focus, the industry as a whole requires more tailored financial support structures, according to a new study.  

The latest Social Impact Series report, which analysed social enterprises in Western Australia, said that there was a need to develop more formal, structured financial resources that are designed specifically for social enterprises, with the support from government and larger financial institutions.

Director of the Centre for Social Impact at the University of Western Australia, Professor Paul Flatau, said that, for the first time, there was a full understanding of the financial and resourcing challenges facing social enterprises.

He said learnings from the research would help develop financial solutions for social enterprises.

“We can see that social enterprises adopt both formal and informal strategies and are flexible in the way they access their resources – truly agile organisations on a mission to achieve social impact,” Professor Flatau said.

“We hope this research will help open the door to more appropriate financing and support to ensure our social enterprises thrive.”

The report, How do Western Australia’s Social Enterprises meet their Financial Challenges, is the fourth in the series developed by the Bankwest Foundation and the University of Western Australia Centre for Social Impact (CSI).

Report authors, Dr Chris Mason, senior research fellow at the CSI and Swinburne University, and Professor Jo Barraket, director of the CSI Swinburne University, said that the research highlighted  agility in seeking out the resources they need.

“The research was designed to cover social enterprises at different stages of growth, so we really get to see where they face significant barriers to building their business, and where this impacts their goal in achieving social impact,” Dr Mason and Professor Barraket said.

“By monitoring the social enterprises over a period of eighteen months, we have been able to capture the diverse experiences that a social enterprise faces from start-up and beyond, and we can clearly see the implications for the development of financial products and tools to foster social enterprise growth.”

The report analysed the findings from the first wave of data collection from participant case studies, investigating the “lived experiences” of social enterprises and social entrepreneurs in Western Australia. The study will now proceed with the second round of data collection and analysis.


Ellie Cooper  |  Journalist |  @ProBonoNews

Ellie Cooper is a journalist covering the social sector.

FEATURED SUPPLIERS


Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

Brennan IT helps not-for-profit (NFP) organisations drive gr...

Brennan IT

...


HLB Mann Judd is a specialist Accounting and Advisory firm t...

HLB Mann Judd

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

WA Adopts NDIA Model For NDIS

Alison Blake

Tuesday, 12th December 2017 at 5:53 pm

Australians Urged To Recycle Their Mobiles To Feed People In Need

Luke Michael

Tuesday, 12th December 2017 at 5:03 pm

Charity Regulators Should Not Assume That Donors Always Know Best

Krystian Seibert

Tuesday, 12th December 2017 at 3:58 pm

Australian Charities Urged to Enable Mobile Donations This Christmas

Luke Michael

Tuesday, 12th December 2017 at 3:03 pm

POPULAR

Trio of Disability Service Providers Announce Merger

Wendy Williams

Tuesday, 5th December 2017 at 8:34 am

Disability Service Providers Losing Confidence in NDIS

Luke Michael

Monday, 4th December 2017 at 5:08 pm

Petition Calls for Gary Johns to Resign as ACNC Head

Luke Michael

Monday, 11th December 2017 at 4:52 pm

New ACNC Head Expected By End Of Year As Rumours Swirl

Luke Michael

Wednesday, 29th November 2017 at 5:03 pm

Write a Reply or Comment

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


Civil Voices
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!