If we’re going to build a fairer Australia, then we need to reinvent business - by making it more like social enterprise.

What gives me hope is the momentum we’re now seeing in the work with our 161 business members. We’re starting to see a shift from ‘tweak-ism’ in corporate ESG efforts, to embedding social and environmental outcomes into the way business is done. It’s making its way right up to Boards as a key risk item – that businesses can’t ignore.

Building social enterprise into supply chains is a great first step. Social procurement is one of the best levers for businesses to create social and environmental value, simply by doing what they do every day – purchasing goods and services. And - business can also learn from social enterprise about diversity and inclusion, social responsibility and community engagement. Social enterprises show how businesses can create profit and deliver social or environmental impact.

The shift to purposeful business is here, and those that don’t catch on now will get left behind.

2024 at Social Traders will be all about the next big strides in making social enterprise and social procurement business as usual.

Federal Government is taking the lead

2023 was a year of progress in the Federal Government’s support of social enterprise and social procurement. The Commonwealth committed to “back social enterprise” in the Employment White Paper, and recommended a social enterprise national strategy, social procurement policy, and endorsement of Social Traders certification in the Workforce Australia Inquiry. We’re hearing from within government that “everyone is jumping on the social enterprise bandwagon”.

Off the back of that we’re working with government on the next steps. We started the year with our pre-budget submission, calling for Commonwealth Social Procurement Policy, certification, and using the Social Traders dataset and outcomes measurement system. In March we’ll be hosting an event in Parliament House with Social Enterprise Australia, for key government Ministers, MPs and policy makers to talk about what it means to ‘back social enterprise’.

More businesses spending with more social enterprises

We’ll be working with key partners to engage many more businesses in social procurement – because it’s the fun stuff! Last year we had one new business and government member join almost every week.

Last year we had 131 newly certified social enterprises, bringing the number of certified social enterprises to 569. We’ll be encouraging even more social enterprises to claim their social enterprise certification this year.

And most importantly, we’ll be busy in our key role as a connector between social enterprise and business so more contracts flow to the social enterprise sector. Our impact report will be out in late Feb with the latest stats – let’s see how much of a jump we’ve made from $607m spent with social enterprise so far.

Our awards and annual conference will be back this year, to connect and celebrate the social enterprise and social procurement trailblazers.

Exploring new ways to partner with businesses on ESG goals

The pressure to respond to stakeholder demands for ESG is growing all the time. Social enterprises are the proof point that building purpose into business is entirely possible. We want to share that expertise.

We’re now offering services in Diversity and Inclusion (D&I), training in ESG, and training in social procurement more broadly. We’ll be working with more businesses over this year to maximise D&I and supply chain opportunities.

Bold trailblazing

There’s exciting momentum and progress on all fronts. Social enterprise and social procurement is catching on. And – there’s still more to do.

The part I love most about this work is that we’re in this together. Social Traders has built a network of over 4,500 people – all working towards building a fairer economy.

Let’s make 2024 a year that we take the next big steps forward. Now is the time!