Social Enterprises are defined as organisations that:
- Are led by an economic, social, cultural or environmental mission consistent with a public or community benefit;
- Trade to fulfill their mission;
- Derive a substantial portion of their income from trade; and
- Reinvest the majority of their profits/surplus in the fulfillment of their mission.
Many organisation’s start out passionately committed to their mission and get worn down by chasing government funding and philanthropic donations. Years later they find themselves doing something very different from what they set out to achieve.
Establishing a trading arm to your organisation may set you free to do what you set out to do with an ongoing funding source to achieve your goals. Fivegrants offers a comprehensive social enterprise consulting service including:
- Strategy and Planning
- Seed Funding advice and support
- Measurement and evaluation
Case Study: Ngurra Bu Aboriginal Corporation
Ngurra Bu Aboriginal Corporation was established in 2009. Their mission is to teach and share the oldest living culture on earth. Located at Wollombi, in the Lower Hunter Region of NSW the area is widely known as a food and wine destination.
However, it is a very significant Aboriginal cultural meeting place with hundreds of Aboriginal lore sites including Rock engravings and cave paintings. Recognising the cultural tourism potential of the area Ngurra Bu began offering cultural awareness training, camps and tours to generate income.
Profits from the tours are reinvested into cultural camps for Aboriginal people who have been disconnected from their community and cultural heritage to build their identity and reconnect them to community and to offering sustainable employment opportunities for Aboriginal people.
A Social Return on Investment Assessment undertaken in 2010 showed that for every $1 invested into Ngurra Bu there was a $4.20 social return. The organisation is moving towards being a totally sustainable social enterprise and is now considered an important product for the NSW tourism industry.
Fivegrants Consulting was very pleased to be engaged by Ngurra Bu to develop their business plans and assist in the ongoing governance of the organisation.