The Welsh Government is making £ 574,000 in funding available to support four new projects that will help Wales’ social enterprise sector ensure a fairer and greener economic recovery, the Minister for the Economy announced today, Vaughan Gething.
The funding will help meet the Welsh Government’s program commitments to government and support social enterprises, co-ops and employee-owned businesses.
Funded projects include:
- the Fight against climate change The project will provide a subsidy program and business support to start-up social enterprises that agree to design, implement and integrate independently agreed “net zero carbon” policies. It will create good practice examples of how climate change mitigation, adaptation and action can be fully integrated into the standard ways of operating a social enterprise.
- the Promote diversity The project will provide funding and expert support to marginalized social entrepreneurs in Wales, particularly in areas of multiple deprivation and for people with disabilities and / or from a black, Asian or ethnic minority background.
- the Buy local, buy on social media The project will promote and support the strengthening of local economies by working with local authorities, boards of health and other public bodies to purchase more of their goods and services locally. They will do this by ordering and producing within the local supply chain of SMEs and social enterprises.
There will also be additional support for promoting employee ownership in Wales. The funding will help support the development of marketing materials and employee ownership campaigns for use in the years to come.
Economy Minister Vaughan Gething said:
“Social enterprises across Wales have been at the heart of our community response to the Covid-19 pandemic – providing invaluable support to people when they need it most.
“Co-operatives and social enterprises have enormous potential to be the business model of choice, providing solutions to social, economic and environmental challenges. This is why supporting social enterprises and cooperatives across Wales to grow and develop is one of the key objectives of the Welsh government.
“I am delighted to make additional funding of £ 574,000 available to support and promote the social enterprise sector in Wales. The funding will support four new projects that will help the sector ensure a fairer and greener economic recovery in Wales. “