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"Having a purposeful job actually does transform someone's life," says Edwin Walsh, who runs a social enterprise in Australia called Assembled Threads.
"You actually are moving someone from vulnerable into purposeful job where they're getting paid, they're getting respected for their skills.
They're getting respected for their skills.
It's a fantastic game changer."
Social enterprises are for-profit businesses that tackle a social problem, such as under-employment or training newly-arrived migrants.
Large companies and governments buy a lot of products, and the sector is expected to turn over $5.5 billion by 2030, the Australian Broadcasting Corporation reports.
The work they do, and the people they employ, vary depending on the business.
So they might be working with people with disabilities, migrants and refugees, families, children, communities, youth, people escaping the justice system, those that need some extra support to empower themselves and create better futures, solidifying careers and careers, and people escaping the justice system, those that need some extra support to empower themselves and create better futures," says Tara Anderson, chief executive of Social Traders, a company that certifies social enterprises.
Australia has more than 12,000 certified social enterprises, with the number of certified businesses growing at 16% a year and the amount spent
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
Greece's economy grew by 0.7% in the first quarter of this year, the country's statistics service announced today, which is a lot better than the government's initial forecast of 0.3%. The...more
There's a new way to invest in the world, and it involves putting your money where your mouth is. In a new video, 3Bank's CEO Vladimir Vukotic and fund manager Tim Crijns explain how the Serbian...more
Italian food company Equita is hoping to make a name for itself in the world of green finance. The company has launched the Equita Green Impact Fund, which aims to invest in projects that have a...more
Foundation: Johnson Foundation, Robert Wood Johnson Foundation
The Robert Wood Johnson Foundation is putting its money where its mouth is, investing $50 million to help communities of color get out of poverty, the New York Times reports. Zoila Jennings, the...more
Foundation: Nathan Cummings Foundation
A billionaire's foundation is investing all of its assets in companies that have a " measurable and beneficial social or environmental impact," the New York Times reports. Nathan Cummings, a...more
One of the world's largest green investment funds is set to announce its first transaction in the US. Per the Wall Street Journal, the Asia Green Fund (AGF) plans to invest up to $1 billion in a...more
Texas is following in the footsteps of Florida, Louisiana, South Carolina, and Utah by pulling billions from BlackRock, the world's biggest asset manager. The Texas State Board of Education...more
Amazon is taking a stand against climate change, and it's putting its money where its mouth is. The company on Tuesday announced the 15 startups that have been selected to participate in the...more
The European Central Bank is expected to cut interest rates for the first time in nearly a decade this week in an effort to boost the struggling eurozone economy, the Wall Street Journal...more
Foundation: Johnson Foundation, Robert Wood Johnson Foundation
The Robert Wood Johnson Foundation is giving $325 million to help communities that have suffered from "a historic lack of investment" in areas such as housing, water, and infrastructure, the New...more
Social Entrepreneurship
Spotlight
Ethical Fashion Social Enterprise Empowers a Generation of African Women
Dsenyo, founded and designed by Marissa Perry Saints, seeks to help women and artisans working their way out of poverty. Dsenyo is an ethical fashion company that operates as a social enterprise that supports living wage opportunities for workers in Malawi, Africa.
