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14/01/2020
Social Enterprises To Benefit From Dormant Accounts Fund
An additional €1 million from the Dormant Accounts Fund has been awarded for social enterprises under the pilot Small Capital Grants Scheme for Social Enterprises.
Making the announcement, Minister for Rural and Community Development, Michael Ring, said: "Last year, I announced a small Capital Grants Scheme to help social enterprises to improve their service delivery by enabling them to make small equipment purchases, or to carry out refurbishments to their premises. I allocated €1 million to 124 social enterprises under the scheme in December.
"The scheme was heavily over-subscribed, but such was the interest in the scheme, I am now allocating a further €1 million in small capital grants to another 107 social enterprises, based on the original applications."
The Minister continued: "Social Enterprises are providing valuable services and supports in communities across Ireland. Like other businesses, social enterprises pursue their objectives by trading in goods and services on an ongoing basis. However, any surpluses generated by social enterprises are re-invested into achieving the core social objectives.
"One of the main aims of the National Social Enterprise Policy, which I launched last July, is to grow and strengthen social enterprises. The small capital grants scheme, which provides support of between €2,000 and €15,000 to social enterprises, will help those enterprises to achieve their social, environmental and economic objectives."
(MH/CM)
Making the announcement, Minister for Rural and Community Development, Michael Ring, said: "Last year, I announced a small Capital Grants Scheme to help social enterprises to improve their service delivery by enabling them to make small equipment purchases, or to carry out refurbishments to their premises. I allocated €1 million to 124 social enterprises under the scheme in December.
"The scheme was heavily over-subscribed, but such was the interest in the scheme, I am now allocating a further €1 million in small capital grants to another 107 social enterprises, based on the original applications."
The Minister continued: "Social Enterprises are providing valuable services and supports in communities across Ireland. Like other businesses, social enterprises pursue their objectives by trading in goods and services on an ongoing basis. However, any surpluses generated by social enterprises are re-invested into achieving the core social objectives.
"One of the main aims of the National Social Enterprise Policy, which I launched last July, is to grow and strengthen social enterprises. The small capital grants scheme, which provides support of between €2,000 and €15,000 to social enterprises, will help those enterprises to achieve their social, environmental and economic objectives."
(MH/CM)
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