Social Traders, Australia’s leading social enterprise procurement intermediary and the only social enterprise certifier in Australia, recently hosted a national sold-out event attracting 700 registrations at the 2023 Business for Good Summit.

Commenting at the Summit, Tara Anderson CEO, Social Traders said, “We’re incredibly proud to be the frontrunners of social enterprise procurement bringing together a community of social entrepreneurs, philanthropy, sector partners, corporates and government agencies - to have robust conversations, learn from each other and celebrate the work we do.

“Social enterprise procurement is catching on. In the last five years, Social Traders business and government members spent $607 million with certified social enterprises. And that number is growing at an average of 55% year on year. That’s the fastest and largest social enterprise procurement growth anywhere in the world!

“There’s also a shift in momentum. Federal government are now consulting with us not just to understand what social enterprise is, but how we can unlock more impact from social enterprise and grow the sector further.”

Dr Daniel Mulino, Member for the Federal seat of Fraser, Chair of Standing Committee on Economics (Australian Labor Party) gave the keynote at the Summit. Reflecting on the event, Dr Mulino said, “There is something particularly compelling about social enterprises – they generate revenue so are sustainable, but they also have a social purpose embedded in their organisational DNA. That combination creates something very powerful. It also creates an operating model which means that social enterprises can do things in some contexts that other organisations can't.

“In the White Paper on Employment the government has highlighted its interest in partnering with social enterprise, particularly in the area of employment. I believe certification will need to be one of the first steps.”

According to the latest Pace23 report, certified social enterprises are making an impact in Australia, with the latest data showing 31K people have been employed by certified social enterprises of which 45% of people employed would usually be shut out of work. These social enterprises achieved $2.25B total revenue with $1.74B coming from trade activity. 31% ($690M) of total revenue is reinvested into delivering impact.

Partnering with Westpac Group and Social Enterprise Australia on the Summit, Social Traders celebrated its 10th anniversary awards with Assembled Threads and Icon being crowned the 2023 National Social Procurement Trailblazer winners, in recognition of their exceptional commitment to social and environmental impact.

This remarkable journey began in 2022 when Icon, a prominent Australian property group, joined forces with Assembled Threads, a company specialising in the manufacturing of Personal Protective Equipment (PPE) and High-Visibility vests, to embark on a circular economy partnership.

In partnership with Social Traders, Icon developed an Assessment Matrix for Suppliers, a weighting system that delves beyond cost evaluation and focuses on the social benefit and impact of suppliers. The result of this innovative process was the conversion of all clothing, safety gear, and PPE sourcing to social benefit suppliers, and a national contract awarded to Assembled Threads to supply PPE to over 800 Icon Group members.

Assembled Threads has long been a champion of addressing underemployment and disadvantaged recruiting, with a special focus on women from culturally and linguistically diverse (CALD) communities, including those residing in North Melbourne's social housing community. Their mission is rooted in providing opportunities to individuals who are often marginalised in the workforce, thereby creating lasting social change and fostering inclusivity.

Edwina Walsh, Founder, Assembled Threads said "We are giving people purposeful work, reducing the hours of welfare that we are having to support through our taxes. Isn't that a better outcome for all of us? I think it is.”

According to Nicole Donnison, Social Procurement and Inclusion Manager, Icon “Icon is committed to working closely with partners, understanding the importance of giving back to the community, and recognising the pivotal role the circular economy plays in providing long-term employment opportunities, strengthening social connections, and diverting waste from the economy.’’

The result of Assembled Threads and Icon’s partnership is empowering for all parties involved, creating mutual benefits, lasting social value and serving as a shining example of business for good. Assembled Threads and Icon have showcased that with shared values and a commitment to sustainability, businesses can thrive while making a meaningful impact on individuals, communities and the environment.