Press release
Minister Humphreys announces €1 million in Capital Funding for Social Enterprises
From Department of Rural and Community Development
Published on
Last updated on
From Department of Rural and Community Development
Published on
Last updated on
Minister for Rural and Community Development, Heather Humphreys TD, today (Monday, December 6th) announced funding of €1 million to support 247 Social Enterprises with their capital costs.
The Social Enterprises Capital Grants Scheme will provide small grants to Social Enterprises to assist them in carrying out renovations or repairs to their premises.
The funding will also be used for the purchase of equipment such as outdoor seating and canopies, playground equipment, machinery, kitchen equipment, laptops, iPads and printers, training equipment, CCTV and so on.
Grants ranging from a few hundred euro to €14,500 are being provided under the Scheme, which is funded from the Dormant Accounts Fund.
The grants will be administered on behalf of the Department by the Local Community Development Committees (LCDCs).
Making the announcement today, Minister Humphreys said:
“As Minister, I’m very conscious that COVID-19 has been challenging for all businesses, including our Social Enterprises. This funding will assist almost 250 Social Enterprises with specific costs in relation to their facilities. In some cases, it will cover the cost of fixing a leaky roof or putting in a new kitchen. Other organisations will use the funding to purchase the likes of new furniture or IT equipment. The grants may be small in nature but I know they will greatly assist Social Enterprises the length and breadth of the country who have continued to serve their communities through the Pandemic.”
The Minister continued:
“This particular scheme will support one of the key policy commitments in the National Social Enterprise Policy for Ireland – “Growing and Strengthening Social Enterprise”. And it also supports the objectives of ‘Our Rural Future’, the Government’s ambitious five-year strategy for Rural Ireland. Our Social Enterprises are at the heart of that strategy. As Minister I am determined to continue to support our Social Enterprise sector to develop further in the future, creating jobs and having a positive impact in our communities. Finally, I want to recognise the role of our LCDCs, who are administering this funding at a local level.”
List of social enterprises to receive funding under the Social Enterprise Small Capital Grants Scheme 2021
Social Enterprises
Social enterprises are businesses that work primarily to improve the lives of people. Their core objective is to achieve a social, societal, or environmental impact. Like other businesses, social enterprises pursue their objectives by trading in goods and services on an ongoing basis.
However, surpluses generated by social enterprises are re-invested into achieving their core social objectives, rather than maximising profit for their owners. They frequently work to support disadvantaged groups such as the long-term unemployed, people with disabilities, the Traveller community, etc., or to address issues such as food poverty, social housing, or environmental matters.
National Social Enterprise Policy
Ireland’s first National Social Enterprise Policy for Ireland 2019-2022 was launched by the Department of Rural and Community Development on 18 July 2019, with the objective of creating an enabling environment for social enterprise to grow and contribute more fully to Ireland’s social and economic progress.
The Policy is focused on three main objectives:
1. Building Awareness of Social Enterprise
2. Growing and Strengthening Social Enterprise
3. Achieving Better Policy Alignment
Dormant Accounts Fund
The Dormant Accounts Acts 2001-2012, together with the Unclaimed Life Assurance Policies Act 2003, provide a framework for the administration of unclaimed accounts in credit institutions (i.e. banks, building societies and An Post) and unclaimed life assurance policies in insurance undertakings.
The main purpose of the legislation is to reunite account or policy holders with their funds in credit institutions or insurance undertakings and in this regard, these bodies are required to take steps to identify and contact the owners of dormant accounts and unclaimed life assurance policies.
However, in order to utilise the un-used funds in dormant accounts and unclaimed policies to best effect, the legislation also introduced a scheme for the disbursement of funds that are unlikely to be reclaimed from dormant accounts and unclaimed policies for the purposes of measures to assist:
1. the personal and social development of persons who are economically or socially disadvantaged;
2. the educational development of persons who are educationally disadvantaged; or
3. persons with a disability.
Social Enterprises work in many ways to assist people in these categories.