Biggest social enterprise transformation in state’s history

Queensland’s inaugural Office of Social Impact is working closely with the private sector and community groups to deliver profound change for Queenslanders in need.

Includes development of new roadmap for social enterprise and impact investment and $80 million Social Entrepreneurs Fund that will support organisations helping vulnerable Queenslanders.

The Queensland Government is collaborating with philanthropists, investors, churches and community groups to deliver the biggest transformation of social enterprise in the state’s history.

Queensland’s first-ever Office of Social Impact will drive real change for Queenslanders in need by developing a roadmap for social enterprise and impact investment and defining the landmark $80 million Social Entrepreneurs Fund.

The fund will support organisations helping vulnerable Queenslanders through investments of $20 million a year for four years.

The fund’s first initiative, the Australian-first impact revenue investments program, has already been unveiled.

Social enterprises are businesses that deliver a purpose beyond profit and can help governments tackle societal challenges.

More than 2,000 social enterprises already play a significant role in Queensland. Their work often provides greater benefits for vulnerable and disadvantaged people through improved education, health or employment.

Stakeholder feedback through the recent Strengthening Social Impact in Queensland issues paper will help shape the new roadmap and enable the Government to better tackle important social challenges across communities.

The consultation follows a Social Impact Advisory Roundtable in January to discuss potential opportunities and challenges to upscale Queensland’s social enterprise industry.

The advisory group included social entrepreneurs, peak representation, academic and indigenous leaders.

A Philanthropic Roundtable also convened to identify opportunities for greater sector engagement.