The government of Ontario has announced a new five-year initiative to help social enterprises. The initiative will both help social enterprises grow and address social and environmental challenges. This will affect the estimated 10,000 social enterprises in Ontario, each employing an average of 38 people.
The initiative is split into several parts. In the first part, $6 million will be invested to help equip social enterprises with business fundamentals, allowing them to connect to more businesses and marketplaces. There will also be specific initiatives, such as integrating specific social entrepreneur supports into more mainstream social enterprise programs.
Finally, the government will create a Center of Excellence in Social Enterprise and Social Finance to help address and achieve future policy objectives concerning social enterprises.
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