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With support from Lord Mayor’s Charitable Foundation, Social Enterprise Australia has published an economic research report Business for Good: The size and economic contribution of social enterprise in Australia, which outlines the contribution social enterprises make to the Australian economy.
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Australia has over 12,000 social enterprises.
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Social enterprises contribute $21.3 billion to the Australian economy and account for 1 per cent GDP.
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Over 206,000 people are employed in Australian social enterprises. That’s 1 in 60 jobs or 1.6% of the workforce. It’s about the same number of jobs as arts and recreation services or the mining industry
The Foundation’s Program Manager for Inclusive, Sustainable Economy & Jobs Stephen Torsi said, "Social enterprises create great outcomes for people experiencing disadvantage, particularly in employment. It is a great business model best suited to tackling many of today’s social challenges.
“The research is an important case for support for strengthening social enterprises in Australia. By using the social enterprise model, there has been an increase in economic inclusion, resilience and workforce adaptability."
Almost one in three social enterprises in Australia are principally concerned with creating meaningful employment for people experiencing disadvantage. It is hoped that the research will help to advocate for a national strategy so that the sector can become more connected, coordinated and grow.
“With the social and economic fallout from the COVID-19 pandemic, growing the social enterprise sector is a key opportunity to drive a more just, inclusive and sustainable new economy,” added Stephen.
The Foundation has supported many social enterprises including Streat, Scarf, Free to Feed, Good Cycles, Lively, Sweet Justice, ASA and Green Collect.
Access the Business for Good report