The evaluation report of the Social Enterprise Development and Investment Funds (SEDIF) evaluation report has been published today, presenting the findings of an evaluation of the SEDIF program of the Australian Government Department of Employment over the period August 2011-June 2016.
The report has been prepared by the Centre for Social Impact and Social Policy Research Centre at UNSW, led by Professor Jo Barraket (CSI Swinburne) and Professor Kristy Muir (CSI UNSW). The Department’s role in overseeing the operation of the Social Enterprise Development and Investment Funds (SEDIF) initiative came to an end in July 2016 with the completion of the remaining fund manager funding agreement.
The evaluation has found that SEDIF has been a program innovation, mobilising more than 124% of its original public investment in private finance to support public policy objectives. Available data suggest that program investments contributed to positive social outcomes for 9,051 people, including employment or employment readiness for more than 650 people. The evaluation report details recommendations for social enterprise development and impact investment.
SEDIFs improve access to finance and support for social enterprises to help them grow their business and increase the impact of their work in their communities. Three SEDIF fund managers were selected to offer social enterprises finance, such as loans, and support. The SEDIF fund managers are:
SEDIF was announced in 2010 and established in 2011, with the objectives of:
SEDIF’s long term objectives were to:
SEDIF funds will remain in the market with their respective fund managers and will continue to be available for loans to social enterprise.