Social enterprise - untapped potential in creating jobs
A new report released today by the Centre for Social Impact Swinburne (CSI Swinburne), in partnership with , shows that employment-focused social enterprises are playing a critical role in improving the lives of disadvantaged Australians by offering a people-centred approach to employment support services.
Currently in Australia, the demand for work among vulnerable groups is growing and is disproportionate to the general population, with close to two million Australians wanting more work opportunities.
Underemployment rates are high among women and younger Australians; and people with disability, Aboriginal and Torres Strait Islander Australians, refugees and people seeking asylum are also less likely to be employed than the wider population.
The evidence-based report, , looks at how and why social enterprise is proving more effective than mainstream employment solutions in delivering greater employment outcomes for people with complex needs.
CSI Swinburne Director, Jo Barraket, said, “The research indicates the important role that employment-focused social enterprises are playing in creating a more inclusive economy, and their unique contributions to Australia’s employment services system, particularly in support of people who experience multiple barriers to participation.”
“We were pleased to work with Westpac Foundation on synthesising the available evidence and identifying where we need to develop further knowledge to support social enterprises to scale their impacts,” Barraket said.
For over a decade, Westpac Foundation has been working with social enterprise to help vulnerable Australians. Following the announcement of its 2030 strategy in late 2018, the Foundation commissioned CSI to undertake research to identify additional insights that would help them achieve their 2030 goal to help create 10,000 new jobs for people who face barriers to mainstream employment.
Westpac Foundation CEO, Susan Bannigan, said, “The ripple effect of a job is powerful. When people work, we leverage all of the talent available to our country. The individual has a sense of belonging and purpose, families and communities are stronger, and so is society.”
“This evidence-based report helps us identify where the gaps are, and what is needed to help employment-focused social enterprises continue to create long-term sustainable change,” Bannigan said.