Planning for Qld-first Office of Social Impact underway
- Office of Social Impact to identify and amplify for-purpose enterprises
- Office will oversee landmark $80 million Social Entrepreneurs Fund
- Social Impact and Philanthropic roundtables contributing to development of sector roadmap
A Queensland-first Office of Social Impact will drive the development of for-purpose and social enterprises across the state.
Establishing the Office of Social Impact is an LNP election commitment and when formed as part of Queensland Treasury, the Office will identify and amplify social enterprises and impact investment opportunities.
Social enterprises are businesses that deliver a purpose beyond profit and can help governments tackle societal challenges.
The Office's first major task will be to create a roadmap for social enterprise and impact investing in Queensland, in collaboration with investors, community, faith groups, philanthropies, the private sector and social entrepreneurs.
This roadmap will define the role of the landmark $80 million Social Entrepreneurs Fund in supporting social entrepreneurs and impact investors making daily impacts on Queenslanders' lives.
A Social Impact Advisory Roundtable convened for the first time yesterday to discuss the potential opportunities and challenges to upscale Queensland's social enterprise industry.
A Philanthropic Roundtable was also held this morning to identify opportunities for greater sector engagement in Queensland.
Treasurer David Janetzki said the power of purpose-led businesses to drive social outcomes was profound.
"I've seen the power of social enterprise firsthand," Treasurer Janetzki said.
"Social enterprises often deliver greater benefits than a workplace, or a service.
"They can change lives for the better, through improved education, health or employment outcomes.
"The Social Impact Advisory Roundtable will provide invaluable insights to government as we chart a course towards a thriving social enterprise sector.
"I'm excited about the potential for the Crisafulli Government to partner with the for-purpose sector to drive social outcomes and tackle the serious social challenges we face in Queensland."
The roundtables were chaired by prominent philanthropist Mr Allan English AM, who received an Order of Australia for Philanthropy and services to the community in 2020.
Ultimately, the Office of Social Impact will oversee the allocation of $20 million a year for four years to identify and amplify social enterprise and impact investment opportunities to benefit struggling Queenslanders.
