Immediate release: 25 March
CALL ON NEW MINISTER TO
PRIORITISE SOCIAL ENTERPRISE
Clann Credo, the social investment fund, today called on the newly appointed Minister of Enterprise, Trade and Innovation, Batt O’Keeffe TD, to prioritise social enterprise, to help create jobs and stimulate regeneration in communities that have been devastated by the recession.
Speaking at Clann Credo’s national conference on Social and community Enterprise in Athlone, the organisation’s chief executive, Paul O’ Sullivan, said that the new cabinet should encourage a fresh approach to business and finance: “The traditional model of finance and development has collapsed. Social enterprise, assisted by social finance, offers the opportunity to rebuild our society job by job, community by community,” he said.
Mr O’Sullivan added that the community and social enterprise sector has remained remarkably resilient in the downturn. “In 2009 Clann Credo approved €10.8 in loans, up from €7.2 million in 2008. Demand for new lending is very strong in 2010, reflecting the increasing level of activity in the sector,” he said.
The conference heard from a host of distinguished speakers, including Gerry Higgins, who is regarded as the UK’s leading authority on social enterprise. Mr Higgins, who is originally from Cork, is the chief executive of CEis, a leading local development agency based in Scotland. He has also advised the UK French and Australian governments on the development of social enterprise.
Social Entrepreneurs from across Ireland also had an opportunity to showcase their work.
Social and community enterprises have an ethos and commitment to social justice. Their commercial activity is not driven by personal profit, Instead they seek to:
¨ provide services that would not otherwise be provided (i.e.
addressing market failures),
¨ support disadvantaged groups and communities,
¨ respond to environmental challenges,
¨ regenerate urban and rural areas and
¨ create jobs.
Mr O’Sullivan said that social and community enterprises will play an important role in Ireland’s economic recovery. “We urge the Minister to support the development of community and social enterprise to help secure a more equitable and sustainable future for ireland.”
NOTE TO EDITORS:
Paul O’Sullivan, the CEO of Clan Credo is now available for interview. Please contact Gert Ackermann on Tel: 086 1769287, or email: gert@clanncredo.ie.
ABOUT CLANN CREDO:
Clann Credo is Ireland’s leading provided of social finance. We offer affordable loan finance to community, voluntary and charitable organisations, community businesses and social enterprises throughout Ireland (we have also supported projects in Kosovo, Slovenia, Romania and South Africa). Our mission is "to design and promote innovative Social Finance products and services; contributing to inclusive prosperity and developing social capital in a way that benefits everyone".
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