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Why measure social impact?
It's easy to say that social enterprise makes a difference, but it's much harder to prove it. Anyone running a business or program needs to know if they are achieving their mission and objectives. This is an issue that affects the whole not-for-profit sector but as social enterprise increasingly attracts grants and support from philanthropy and government, there is a need to understand its real benefits.
There are a number of different models of impact measurement including
- Social Return on Investment
- Social Auditing
- Program Logic
There is a significant emerging interest in social impact measurement in Australia. It goes beyond traditional evaluations to the idea of developing standard tools and resources that will make impact measurement as central to an organisation's planning as output measurement and financial measurement.
We will continue to actively participate in discussion and debate on impact measurement, ensuring that approaches that recognise the needs of social enterprise big and small are developed. We will also directly invest in social enterprises measuring their social impact.