The Social Economic Enterprise Strategy recently enacted proposes to help stimulate large growth in this sector of the Northern Irish economy. The sector, comprised of many charities and other not for personal profit businesses represents a large portion of the business economy of the area, though one that has not always been fully funded and recognized. The purpose of the new strategy is to implement a reduced phasing grant that will pay 600,000 pounds into the system over the next four years. The ultimate goal is to help make the sector more visible and to help to increase its overall strength.
While the strategy affects everyone on some level, it will have a primary impact on business owners and employees who are a part of the social economy. This includes businesses that work to provide social services, nonprofit health facilities, resource and environmental protection groups, and more. Ideally, the strategy will help to promote the formation of new social economic enterprises as well as to foster those that already exist. The hope is to help create a sustainable future and to create a system that offers social benefit while helping the local economy as well. It is the belief of the government and policy writers that establishing visibility of this sector of the economy will be the first step in achieving these goals.