September 25, 2016
Last updated on March 20, 2018
Today Social Traders is announcing opportunities to build better social enterprises through access to tailored business support and capital.
Aimed at addressing the growing need of social enterprise for business skills and access to appropriate capital, Social Traders is calling for applications to its Crunch accelerator start-up program and Social Investment Portfolio.
Social Traders’ Managing Director David Brookes said, “We are seeing an increased awareness of social enterprise in Australia. As the level of interest grows, we want to see new and existing social enterprises succeed, be financially sustainable and generate positive social impact. To do this, we need to provide the most appropriate forms of support and capital to help them reach their full potential.”
According to Finding Australia’s Social Enterprise Sector national research released in June this year, 73% of Australian social enterprises are small businesses, and 34% have been in operation for between 2-5 years.
Social Traders’ Crunch works with new and existing social enterprises to test ideas and build a robust business plan and model. By the end of this year, Social Traders is seeking to select eight enterprise proposals to work with in the first half of 2017.
Social Traders’ Portfolio provides access to patient capital and business support to high potential, not-for-profit social enterprises. This year, the Portfolio aims to invest $900,000 of patient capital in up to four social enterprises. Successful social enterprises will also receive business coaching valued at $20,000 each year.
Through Social Traders work, 32,000 beneficiaries have received support from social enterprises in Victoria since 2009. In that time, 60% of the 88 enterprises that have completed Social Traders’ Crunch are still trading today. 12 of these have received $1.6 million in start-up capital from Social Traders, and through this support, leveraged a further $3 million from impact investment and philanthropy.
Joining Social Traders social enterprise community provides additional benefits including access to networks, workshops and events.
For further details contact: Mark Hemetsberger, Head of Marketing firstname.lastname@example.org or 0438 947 523