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Minister for Rural and Community Development, Heather Humphreys TD, has today announced funding of €680,000 for 50 organisations under a new initiative designed to raise awareness of the positive role played by Social Enterprises.
The Awareness Raising Initiative for Social Enterprise (ARISE) Scheme 2021 was set up to provide grants to Social Enterprises to help them promote the positive impact they have on their local communities.
Due to the high number of applications received by the Department, the overall level of grant funding being allocated was increased from €500,000 to €680,000.
Among the Social Enterprises to receive funding include:
Announcing the funding today, Minister Humphreys said:
“Throughout this Pandemic, we have seen many examples of the important role our Social Enterprises play within their local communities. As Minister, I want to help our Social Enterprises to grow and promote the really valuable contribution they make to Society. The ARISE Scheme is a new initiative that I announced earlier this year to help put a spotlight on the positive role played by our Social Enterprises. Today, I’m delighted to announce funding of €680,000 to support 50 Social Enterprise projects across the country.”
The Minister continued:
“This scheme will play a significant role in in fostering a common understanding of the value of Social Enterprise. Under Strand One of the Scheme, forty-two Social Enterprises will tell their story and highlight how their Social Enterprise is improving the lives of citizens. Under Strand Two of the Scheme, eight Social Enterprise network and support organisations will deliver more general or sectoral messages on what Social Enterprises are, and their potential to deliver sustainable and inclusive development and recovery. Today’s funding announcement will support the vital work being done across the Social Enterprise sector, and ensure that Social Enterprises continue to grow and develop.”
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.
List of Social Enterprises to receive funding under Strand 1 of ARISE Scheme
ARISE Scheme Strand 1 2021
Funding for Social Enterprises
List of National and Support Organisations to receive funding under Strand 2 of ARISE Scheme