The Growth of Social Enterprises €” For-Profit Businesses That Tackle a Social Problem

credit: Photo: Getty Images, Stephen Trussler

"Having a purposeful job actually does transform someone's life," says Edwin Walsh, who runs a social enterprise in Australia called Assembled Threads.

"You actually are moving someone from vulnerable into purposeful job where they're getting paid, they're getting respected for their skills.

They're getting respected for their skills.

It's a fantastic game changer."

Social enterprises are for-profit businesses that tackle a social problem, such as under-employment or training newly-arrived migrants.

Large companies and governments buy a lot of products, and the sector is expected to turn over $5.5 billion by 2030, the Australian Broadcasting Corporation reports.

The work they do, and the people they employ, vary depending on the business.

So they might be working with people with disabilities, migrants and refugees, families, children, communities, youth, people escaping the justice system, those that need some extra support to empower themselves and create better futures, solidifying careers and careers, and people escaping the justice system, those that need some extra support to empower themselves and create better futures," says Tara Anderson, chief executive of Social Traders, a company that certifies social enterprises.

Australia has more than 12,000 certified social enterprises, with the number of certified businesses growing at 16% a year and the amount spent Read the Entire Article