Minister of Enterprise, Trade and Investment - Social Economy Enterprise Strategy

Mr J Spratt asked the Minister of Enterprise, Trade and Investment to outline her plans to review the Social Economy Enterprise Strategy.

(AQO 3048/09)

Minister of Enterprise, Trade and Investment:

I am committed to developing the social economy sector, with its distinctive role and impact on local communities and particularly disadvantaged people, groups and disadvantaged areas.

In recognising the importance of the sector, my Department led the development of the Executive’s first cross-departmental strategy, published in 2004, entitled "Developing a Successful Social Economy".

We are currently finalising a refreshed strategy, working closely with the Social Economy Network (SEN) which represents the sector, and other key stakeholders both within and outside Government with a role to play in supporting its development. The refreshed strategy will continue the Executive’s commitment to three strategic objectives - to increase awareness of the sector, develop its business strength and provide a supportive environment in which it can prosper. These continue to be highly relevant especially in the current economic downturn.

In support of our strategic approach, Invest NI yesterday launched its new Social Entrepreneurship Programme to build on the skills and capabilities of local social entrepreneurs and to ensure that those social economy enterprises which are capable of making a significant economic impact get appropriate financial and other support.

I plan to put the strategy out to public consultation early next month and my aim is to have it finalised and in place by October.