Social Impact Investment working group is tasked with developing policy recommendations to the Government to progress social impact investment (SII) as a vehicle to improve social and economic outcomes for disadvantaged Australians. SII, including social enterprise, has potential to realise outcomes for social issues aligned with Government priorities, including early childhood development, youth at risk and housing.
“The Impact investing and partnerships working group wants to hear from people with ideas for how Australia can better support the emerging impact investment market, specifically how Australia can increase potential impact investment opportunities and help to build the sector’s capacity. It is particularly interested in hearing from social entrepreneurs so we can better understand their needs in this context.”
The working group will advise the full Partnership on practical long-term strategies to strengthen SII and its benefits for Australians through supporting:
- the enabling environment by strategically adapting government approaches to the SII market and fitness of regulation for social enterprise
- development of innovative finance models and franchising structures and more effectively harnessing resources in the delivery of services
- increasing investment in and demand for investment by social enterprise
- social enterprises access to mentoring, networking and collaboration
- training and employment opportunities for groups and communities experiencing barriers
- engaging with innovative ideas and perspectives from experts and the broader community in order to strengthen its advice to the Partnership and Government
The working group will focus on the potential role of the Government in the following priority areas:
- the growth of SII in Australia and supporting its potential to realise outcomes for social issues aligned with the Government priorities
- identifying policy and regulatory ‘enablers’ of government, business and community collaboration, and enabling legal structure for social enterprises and not-for-profit organisations
- continuing to build strong linkages with community, business and social enterprise to achieve positive outcomes
- development of outcome measurement techniques and frameworks, and exploring models for NFP organisations to expand into sectors of social need.
The working group will engage with a variety of stakeholders and may involve or consult identified experts in the field to inform discussions. The working group will seek agreement from other Prime Minister’s Community Business Partnership members to its policy recommendations.
In April 2018 the Partnership provided a Background Policy Paper: Social Enterprises and Not-for-Profit organisations scaling for impact, to the Government for consideration. The paper made recommendations around the following five priority areas:
- Capacity building of enterprises
- Procurement and market opportunities
- Cost and complexity of appropriate legal structures
- Access to start-up capital and funding streams, and
- Legitimising the social enterprise sector.
- Background Policy Paper: Social Enterprises and Not-for-profit organisations scaling for impact [PDF 1 mb]
- Background Policy Paper: Social Enterprises and Not-for-profit organisations scaling for impact [WORD 1.2 mb]
Convenor: Ms Angela Perry
Members: Ms Hanna Ebeling, Mr Rupert Myer, Mr Peter Scott, Mr Peter Treseder
Partnership Deputy Chief Convenor, Ms Alexandra Gartmann, is also a member of this working group.