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Financing & Funding

Social investment financing is an emerging but still limited field of activity in Australia. As development in this area progresses it will open up new and different funding channels for establishing and growing social enterprises.

In July 2010 The Australian Government announced that it would provide a $20 million cornerstone investment to seed the establishment of at least two Social Enterprise Development and Investment Funds (SEDIF) has been established to improve access to loan finance and support for Australia’s social enterprises to help them grow their business, and by doing so, increase the impact of their work in their communities. In August 2011 the Commonwealth announced the two successful fund managers for the program:

In November 2010 the NSW Government announced that it will trial Social Impact Bonds, the nation’s first social investment pilot to fund non-government community programs. Information on the pilot can be found here.

In the mainstream financing market, a number of social enterprises have accessed National Australia Bank’s micro-enterprise loans.

Many social enterprises face barriers to start-up due to limited access to funds to assist them through the early stages of development. To help address this issue, in 2006 PCC created the Community Capacity Building Social Enterprise category within its Community Grants program (see the Community Grants program page for further information on the program, including the timing of funding rounds).
Other potential grant funding sources that may prove useful to social enterprises include:

  • The Westpac Foundation - focus is on creating and sustaining social enterprises in disadvantaged communities
  • Community Builders fund – NSW Department of Communities program aiming to strengthen and build capacity in communities in particular regions of NSW (including Parramatta). This program replaces the previous Area Assistance Scheme and generally runs annually, opening around August each year.
  • NSW Office of Fair Trading - Co-operatives Development Grants Program - Co-operatives incorporated under the Co-operatives Act 1992 or enterprises/groups wishing to determine the benefits or appropriateness of registering as a co-operative under the Act can apply

We also suggest that social enterprise practitioners research funding related to their specific purpose. For example, environmental funding or wage assistance / subsidies for various groups of employees or potential employees. Depending on the focus, some of these may be relevant to various social enterprises.

*Please note that Parramatta City Council in no way endorses any of these organisations or their activities. This listing is provided for information purposes only.

Parramatta City Council’s Social Enterprise Grants

PCC’s Social Enterprise Grants program $80 000 per annum.

In 2011 the program has been re-structured and two funding streams are now available through the category.
The ‘business planning’ stream provides funding of up to $2 500 to assist early stage social enterprises to develop the business plan for their model. Up to $30 000 per annum is available in this stream.

The ‘growing social enterprise in Parramatta’ stream provides two grants of $25 000 ($50 000 total pool) to assist successful social enterprises locate in the Parramatta LGA, or to take a significant growth step (if they are based here). This stream is part of a larger Social Enterprise Attraction Strategy, which seeks to establish Parramatta as a location of choice for social enterprises.

Why locate in Parramatta?

Parramatta is driving force and heart of Australia’s most significant economic region, a vibrant home for diverse communities, and a centre for excellence in research, education and enterprise. It is the geographic centre of Sydney and is positioned to become a major central transport Hub for Sydney in future years. It has the second fastest growing population, and is the second largest employment zone outside the Sydney CBD. A further 27 500 jobs and 20 000 residents are expected in the next 25 years. A great place to establish your trading operations!

Parramatta’s major civic place development project will deliver a city centre that is an attractive, dynamic and creative place to live and work. Civic Place will include 170 000 sqm of mixed use commercial, retail civic and residential space. In addition, the Lennox Bridge carpark site located on Parramatta River will be offered to the market for redevelopment and to create activity and connectivity between the river and the res of Parramatta CBD. Sydney’s up-and-coming city centre set to become the place to be!
Parramatta’s many interesting neighbourhoods also offer areas where less CBD-focused operations could be established. See http://www.parracity.nsw.gov.au/your_council/council/Councilors__and__Wards for a map showing what suburbs are part of the Parramatta LGA.

At the same time Parramatta local government area faces significant social and environmental challenges, and is interested in working with and supporting social enterprises with a focus in any of its identified priority areas. In particular, we are keen to work with social enterprises offering innovative and creative responses to any of these issues:

  • Social priorities include: health protection; active living; healthy lifestyles promotion; social housing renewal; minimising homelessness; affordable housing provision; dwelling mix diversity; early childhood development; youth engagement; workforce skills development (particularly marginalised community members); positive ageing; active crime prevention; community safety; active citizenship; robust social networks; quality neighbourhoods; and connecting local arts and cultures.
  • Environmental priorities include: fostering green economies; improving natural systems; managing risk and increasing resilience.

See the Community Grants page for more information, including on the timing of the rounds.

Assistance is available to organisations and individuals interested in applying for a social enterprise grant. Please feel welcome to contact CCB team on 9806 5138 at any stage during the year to discuss.

Successful applicants to the social enterprise category of PCC’s grants program are required to participate in a range of capacity building activities to support their work.

Funded social enterprises – round 5, 2011

Funded social enterprises – round 4, 2010

  • Food Connect Sydney, $10 000 for 1 year (sydney.foodconnect.com.au)
  • Chainbreakers Shed, $5 000 for 1 year (www.chainbreakersrecovery.com)
  • African Women’s Asset Cleaning enterprise, $5 000 for 1 year
  • Parramatta Clay & Arts Inc, $10 000 for 1 year (parraclay.org)
  • youMove, $5 000 for 1 year (www.youmovedance.com.au)
  • The Centre African Community Hub, $5 000 for 1 year
  • SEVA Inc, Cooperative Enterprise of South Asian Women, $5 000 for 1 year
  • Ermington Community Church, Riverside Café - $10 000 for 1 year
  • African Family Day Care, $5 000 for 1 year

Funded social enterprises – round 3, 2009

  • Ermington Community Church, Riverside Café - $5 000 for 1 year  
  • African Food Project - $10 000 per year for 3 years
  • The Parramatta College, Global Talents Australia - $10 000 per year for 3 years
  • Mars Hill Café, Expresso Coffee Carts - $10 000 per year for 3 years
  • Parramatta Clay & Arts Inc - $10 000 for 1 year (parraclay.org)

Funded social enterprises - round 2, 2008

  • Parramatta Clay & Arts Inc - $10 000 for 1 year (parraclay.org)
  • African Food Project - $10 000 for 1 year
  • Circus Solarus Inc - $10 000 per year for 2 years (www.circussolarus.com.au)
  • SEVA Inc, Cooperative Enterprise of South Asian Women - $10 000 for 1 year  
  • Bicycle Recycling Network - $10 000 for 1 year

Funded social enterprises - round 1, 2007

  • Council of Australian Palestinians, Jafra Catering - $10 000 per year for 3 years (www.jafracatering.com.au)
  • Igbo Association of NSW, Igbo Community Co-operative - $10 000 for 1 year
  • Information and Cultural Exchange (ICE), Creative Catalyst Workspace - $10 000 for 1 year (ice.org.au/switch/creative-hub)
  • Circus Solarus Inc - $10 000 for 1 year (www.circussolarus.com.au)
  • YWCA NSW Parramatta, Yummy Catering - $10 000 for 1 year
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