Minister Humphreys Launches ‘Trading for Impact 2024-2027’ - Ireland’s National Social Enterprise Policy
Minister for Rural and Community Development Heather Humphreys TD has today, 24 July 2024, launched ‘Trading for Impact’ the National Social Enterprise Policy 2024 -2027. The launch took place at a social enterprise, the ICE Enterprise Hub run by Inner City Enterprise.
The purpose of the new policy is to build on the achievements of Ireland’s first social enterprise policy.
Latest estimates show that there are roughly 4,300 social enterprises operating nationally with an estimated total income of €2.34 billion.
This new policy has been designed to cultivate and sustain a strong and impactful social enterprise sector in Ireland that enriches the social, environmental, and economic wellbeing of our communities.
The policy was developed after widespread consultation with the sector and an open national public consultation process.
The policy details five key objectives:
- Building Awareness of Social Enterprise
- Growing and Sustaining Social Enterprise
- Supporting the Green Transition
- National and International Engagement
- Impact Measurement.
57 concrete actions are defined under these objectives, which will be implemented between 2024 to 2027. A ‘Stakeholder Engagement Group’ will oversee the delivery of the policy.
New €2 million ‘Growing Social Enterprise' fund launched
The Minster also announced the launch of the new €2m Dormant Accounts funded ‘Growing Social Enterprise' fund which is an action within the policy. The purpose of the fund is to provide capital supports that assist enterprises to achieve their social, environmental and economic objectives, and to improve their sustainability and impact. The fund will benefit up to 100 social enterprises nationwide, with grants ranging from €1,500 to €100,000.
€2m ‘Growing Social Enterprise’ capital support scheme launched
- ‘Trading for Impact’ will help sustain and grow the social enterprise sector
- Increased ambition for social enterprises in Ireland
- Policy developed after extensive consultation process with stakeholders.
Minister for Rural and Community Development Heather Humphreys TD has today, the 24th July 2024, launched ‘Trading for Impact’ the National Social Enterprise Policy 2024 -2027. The launch took place at a social enterprise, the ICE Enterprise Hub run by Inner City Enterprise.
The purpose of the new policy is to build on the achievements of Ireland’s first social enterprise policy.
Latest estimates show that there are roughly 4,300 social enterprises operating nationally with an estimated total income of €2.34 billion.
This new policy has been designed to cultivate and sustain a strong and impactful social enterprise sector in Ireland that enriches the social, environmental, and economic wellbeing of our communities.
The policy was developed after widespread consultation with the sector and an open national public consultation process.
The policy details five key objectives:
- Building Awareness of Social Enterprise
- Growing and Sustaining Social Enterprise
- Supporting the Green Transition
- National and International Engagement
- Impact Measurement.
57 concrete actions are defined under these objectives, which will be implemented between 2024 to 2027. A ‘Stakeholder Engagement Group’ will oversee the delivery of the policy.
New €2 million ‘Growing Social Enterprise' fund launched
The Minster also announced the launch of the new €2m Dormant Accounts funded ‘Growing Social Enterprise' fund which is an action within the policy. The purpose of the fund is to provide capital supports that assist enterprises to achieve their social, environmental and economic objectives, and to improve their sustainability and impact. The fund will benefit up to 100 social enterprises nationwide, with grants ranging from €1,500 to €100,000.
Speaking at the launch of the policy, Minister Humphreys said:
“I am proud to launch ‘Trading for Impact’ the new National Social Enterprise Policy today. This policy is a testament to government’s continuing commitment to social enterprise across Ireland, and the significance we place on it. Strong social enterprises are important for our local communities, and play a crucial role in creating jobs, addressing social challenges, and fostering a more inclusive society. This new policy builds on the success of its predecessor and sets out a clear framework for enhancing their capacity and impact in Ireland in the years to come”
Minister Humphreys added
“I am also delighted to launch the new 2024 ‘Growing Social Enterprise Capital Fund’. This €2m fund will provide much needed support nationwide to purchase equipment or undertake building works, enabling social enterprises to continue the great work they do in our communities.”
Trading for Impact, the National Social Enterprise Policy for Ireland 2024-2027 is available here.
Click here for information on the DAF Growing Social Enterprise Capital Fund.