Evaluation

At this early stage PCC’s social enterprise program has been developed based on broad statistical data and anecdotal data. The program is therefore designed to be flexible so that it can evolve in response to identified needs and strengths as the evidence base is quantified in a more rigorous manner.

Whilst the success of the ‘business’ aspects of social enterprises are relatively straight-forward to measure, evaluation and impact assessment of community-focused endeavours is notoriously difficult. During 2008 we will be developing an evaluation framework for the program and information on this will be provided here as it becomes available.

The social impact of the enterprises established by participants in the Parramatta Social Enterprise Hub Accelerator will be all be evaluated using Social Return on Investment (SROI) methodology at agreed milestones. One of the deciding factors in partnering with Social Ventures Australia on the Hub project is that a key component of their model is evaluation and impact assessment.

SROI provides an estimate of the total social and economic value and community impact generated by a social enterprise (or by a ‘community organisation’). The process measures the value of the benefits relative to the costs of achieving those benefits. The methodology has been developed by the UK-based new economics foundation, based on work pioneered by the Roberts Enterprise Development Foundation (now RedF). It reflects the complexity of evaluating and assessing the impact of social enterprises through providing stakeholder focused reporting that is based on a strong data collection and analysis process.