As part of the announcement by Minister for Rural and Community Development, Heather Humphreys, TD, Ballyhoura Development will receive funding under the Dormant Accounts funded Awareness Raising Initiative for Social Enterprise (ARISE) Scheme.
Welcoming the announcement, the Chairperson of Ballyhoura Development, Pádraig Fitzgerald, highlighted “The crucial role of social enterprises in improving the lives of people. The funding of €50,000 will support delivery of a range of awareness raising initiatives to highlight the valuable role and contribution of social enterprises across the Ballyhoura Development area.”
The core objective of social enterprises 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, or to address issues such as food poverty, social housing, or environmental matters.
Making the announcement, Minister Humphreys said “The projects funded will further increase awareness of social enterprises and their potential. This scheme will continue to play a significant part in fostering a common understanding of the value of social enterprise, and collectively empower social enterprises to have a voice and a role in raising awareness. While there has been a significant increase in the visibility of social enterprises, raising awareness is an ongoing challenge. I firmly believe this sector has the potential to grow in both scale and impact. We all need to continue to pull together to make that happen.”