Provincial News

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Helping Social Enterprises Grow and Create Jobs

New Strategy to Create Jobs and Attract New Investment

Ontario has launched a new plan that will help social enterprises start and grow their businesses while supporting the creation of 1,600 new jobs in the sector. 

Impact - A Social Enterprise Strategy for Ontario is the province's plan to become the number one jurisdiction in North America for businesses that have a positive social, cultural, or environmental impact while generating revenue. 

The strategy will support social entrepreneurs and attract investors by focusing on four key areas:

  • Connecting, co-ordinating and communicating information to, and about, social entrepreneurs, including exploring new ways to help create 'hybrid' corporations that reinvest profits in a social purpose.
  • Building the social enterprise brand by increasing awareness of the sector using tools like an interactive web portal where social entrepreneurs could meet and connect with investors, and access services.
  • Creating a vibrant social finance marketplace through various initiatives, including exploring the launch of a new $4 million Social Enterprise Demonstration Fund to support early-stage social enterprises.
  • Delivering other innovative supports, like a pilot program to help social enterprises be part of procurements related to the 2015 Pan Am/Parapan Am Games.

The strategy builds on previous action taken by the government to develop and grow the sector, including the creation of an Office for Social Enterprise that partners with the private, not-for-profit and public sectors to co-ordinate and expand the tools available to social entrepreneurs.

Supporting businesses with positive social, cultural and environmental impacts is part of the government's plan to create a strong business climate and invest in people.

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