Jim boyle social enterprise in ireland
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Jim boyle social enterprise in ireland






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Jim boyle social enterprise in ireland Jim boyle social enterprise in ireland Presentation Transcript

  • Social Enterprise in Ireland Jim Boyle, Head of Finance & Operations, Clann Credo - The Social Investment Fund 10 October 2013 1
  • Converting Community needs into Enterprising Solutions • More than jobs – support people to develop & acquire skills – training (formal and informal), – social outlets and networks for individuals who have been isolated, – meaningful employment and experience for vulnerable groups young people, people with disabilities, ex-prisoners, recovering drug users • Overcomes market failures • Flexible and responsive to local needs • Innovative and creative
  • Background to Clann Credo • Formed 1996 • Not-for-profit (Charitable tax exemption) • Over €50m invested in almost 500 projects • Fund size €25M • Funded by Charitable Organisations & Foundations by way of Investment (not grants)
  • Forfás Report* • Sector, currently employs between 25,000 and 33,000 • 1,400 social enterprises with a • Total income of approximately €1.4 billion. • Potential to double by 2020. *Social Enterprise in I reland: Sectoral Opportunities and P olicy I ssues, Forfás, 2013
  • Key Characteristics / Definitions • Enterprises which; –Trade for a social / societal purpose –At least part of its income comes from trading –Separate from Government –Surpluses are primarily re-invested in the social objective.
  • Social Enterprise contd. • Well-known examples include; – Rehab, – Coder Dojo; – Jamie Oliver’s Fifteen Restaurant Franchise – The Big Issue; – Café Direct; – Grameen Bank (Bangladesh)
  • Sectoral Areas in Ireland • Childcare • Health & Eldercare Services • Education, Employment Services & Training • Sports & Recreational Activity • Environmental & Waste Management • Tourism & Festivals • Arts / Media
  • Examples - Tourism • Allihies Copper Mine Museum • Waterford & Suir Valley Railway
  • Examples - Tourism • Copper Coast Geopark • Kerry Writer’s Museum
  • Other Examples Castlerea Community Arts (Roscommon – Arts) Belmullet Arts Theatre (Mayo – Arts) Bonane Community Co-op (Kerry – Tourism) Action against Addiction NE (Louth - Addiction & Environment) • Vantastic (Dublin – Disability) • Speedpak (Dublin – Training & Employment Services) • Community Enterprise Centres (various) • • • •
  • Social Enterprise Policy - EU Social Business Initiative (October 2011) • To exploit the full potential of SE sector. • Address public policy at EU level to ensure level playing field for SE’s. • Noted that market imperfections constitute barriers to SE to scale up and benefit from single market. • Review EU rules on procurement, state aid & financial markets relating to SE’s. •
  • Social Enterprise Policy - EU Social Business Initiative (October 2011) • Action Plan –Improve access to funding –Measures to improve visibility of SE’s –Measures to Improve Legal Environment • Financed by European Social Fund & European Regional Development Fund. • N.B. Lisbon Treaty prohibits discrimination favouring one type of business over another but Single Market rules can take into account plurality of business models.
  • OECD • Calls for – More explicit focus on social enterprises – Appropriate policy supports • Social enterprise activity in em ploym ent and training under-developed, • Very few social enterprises w hich can operate on a pure business m odel
  • Recommendations to Further Growth • Development of an enabling framework (Ireland is well behind other developed countries in this area). • Building up of capacity. • Public Procurement Policy • Funding & Finance • Developing Leaders and Harness Community Support • Governance
  • Social Enterprise – promoting the concept Social Enterprise Longford – 8 projects assisted – Awards July 15th 2013 Social Enterprise & Entrepreneurship Task Force • Government Policy • Minister Appointed 16
  • Irish Social Finance Centre • Commitment to an underserved area – Inchicore, Dublin 8 • National hub for Social Enterprise & Entrepreneurship Development • Offices for Clann Credo
  • Social Impact Investing (SII) Innovative financing mechanism Focussed on areas of social need Based on achievement of agreed outcomes Uses private capital to fund interventions Reward dependant on independent verification of social outcomes • Pro-active performance management • Dividends and capital repaid to investors by State on foot of achieved outcomes • • • • • 18
  • © Clann Credo 2013 19
  • Social Investment Private Capital Social Purpose • Religious Charities €10m + • Social Finance Foundation €25m + agreement with banks  Community Organisations Social Finance Public Benefit  €16.5m approved in 2012  137 loans approved in 2012  No viable project declined 20  Voluntary Groups  Charities  Social/Community Enterprises • No Exchequer funding • Income covers Costs • Supports State investments
  • Our People BOARD Tom Finlay (Chair); Jerry Butler (Vice Chair); Gary Brennan; Magdalen Fogarty (Founder); Colin McCrea; Maurice O’Connell; Grace Redmond; Jim Rourke; Paul Sullivan EVALUATION COMMITTEE Jerry Butler; Magdalen Fogarty; Martin Coggins, Sheila Fox; Jerry Kivlihen; Philip O’Connor PROJECT SUPPORT COMMITTEE Tom Finlay; Emer Ní Bhrádaigh; Ann Clarke; Pat Leogue; Jim Rourke; Paul Sullivan 21 STAFF Jim Boyle, Finance & Operations; Susan Gallagher, Social Finance Executive Tracey Hannon, Social Finance Executive; Angie Healy, Administration ISFC Jennifer Hennessy, Social Finance Executive Paul O’Sullivan, CEO Anne-Marie Woodfull, Administration ADVISORS Hugh Quigley - EU Affairs (Pro Bono) Gert Ackerman - Communications Ann Clarke - Social Impact Investment
  • Contact Western Office: Clann Credo c/o Westbic Lower Main Street Foxford Co. Mayo Southern Office: Clann Credo Owennacurra Business Park Midleton Co. Cork 22 Head Office: Clann Credo The Social Investment Fund Irish Social Finance Centre Inchicore Dublin 8 T: 01 400 2100 E: info@clanncredo.ie W: www.clanncredo.ie
  • Thank you Please stay in touch! www.clanncredo.ie 23 Clann Credo Limited, a company limited by guarantee not having share capital with charitable status, CHY 13308: CRO No: 253147.