Social enterprises call for more cash to help make a difference

Bec Scott runs one of the most successful social enterprises in Australia, but even she says getting a social impact business off the ground is a “crazy treadmill” and a constant fight to stay afloat.

“There’s a real challenge. There’s challenges when you start up something in Australia, and there’s often not money in the front end,” says the co-founder of Streat.

Streat provides vocational education and support to young people who need it through its eight cafe-focused businesses.

Scott and co-founder Kate Barrelle started Streat a decade ago, launching with funding from Danish philanthropists.

The organisation has since secured a range of funding, including $300,000 from impact investments and a further $2.5 million in debt funding.

Streat now turns over more than $2 million a year and has so far saved government agencies around $16 million in funding for at-risk young people, according to projections from RMIT. Scott has seen first hand how hard it is to get investment as a social enterprise.
“It’s getting better in some senses - there’s far more visibility of what a social enterprise is now,” she says. Read more

Emma Koehn - Brisbane Times - 14 Oct 2018

Comments

We welcome relevant, respectful comments.
Please read our Comment Policy before commenting.
We also welcome direct feedback via Contact Us.
You may also want to ask our librarians.

Be the first to write a comment