A Jamaica National Foundation commissioned research is set to assess the needs and challenges of social enterprises.

Since negligible data is currently available on the social, economic and enviromental contributions these enterprises make to the country, the philanthropic arm of Jamaica National Building Society initiated the research to gather information on the sector in order to examine, inform and influence key decisions, which affect the sector.

JN commissioned the Mona School of Business and Management at the University of the West Indies — through its Office of Social Entrepreneurship (OSE), headed by Dr Kadamawe Knife.

OSE will also be used to map the social enterprises participating in the Social Enterprise Boost Initiative (SEBI) in order to monitor and measure the social impact that these organisations are having on individual and community development.

SEBI aims to mobilise increased employment, investment and revenue within communities across Jamaica, by transforming social enterprises into efficient businesses, moving the mindset away from subsistence and towards wealth creation.

Already, the initiative has been introduced to representatives of community, national, regional and international bodies as an opportunity for sustainable wealth creation, with far-reaching effects for national development.

Over the past year, grant funding from several donor agencies had been cut by more than half, threatening the existence of many organisations within the social sector Dr. Knife said.

Therefore, the drive by SEBI to transform these entities into businesses, which create surpluses that are reinvested into their social or environmental mission, was worthy of support.

Introductory sessions have also been held with representatives of the European Union (EU), the Inter American Development Bank (IDB), Caricom, Social Development Commission, Jamaica Business Develop-ment Corporation and the Department of Co-operatives and Friendly Societies, as well as with several community groups.

Participants at the sessions pointed to the absence of a coherent policy structure, which took the peculiarities of their enterprises into account. They also noted that there was no support system that recognised social enterprises

It’s believed that the sector had the potential to transform the society from the bottom up.

“These ventures need business models which differ from those of corporations; also they depend a lot on the creation of social enterprise alliances or networks, through which skills and experiences may be shared,” said Saffrey Brown, general manager of JN Foundation.