The aftermath of COVID-19, along with ongoing systemic racism, will require hefty investments in everything from public health to community economic development. Impact investment is one way to do that, but some leaders say there isn’t a lot of coordination among investors themselves.
Indigenous women entrepreneurs are opening businesses at twice the rate of non-Indigenous women. As Canada looks to rebuild its economy, it’s more important than ever to back Indigenous entrepreneurs — but despite this, there're still significant barriers to funding, including to the $755 million Social Finance Fund.
In a post-pandemic reality, non-profits will need to digitize — in one way or another — most of their processes, services, and activities. But for many, the capacity to embark on digital transformation just doesn’t exist. Gibson says a cross-sector, systems-level approach is necessary.
While the social impact sector aims to solve a lot of societal problems, it has a real lack of inclusion, making it much harder for leaders from equity-seeking groups to scale their organizations or share their expertise. This leads to a continuous cycle of inequality, especially when it comes to accessing new financing — including the $755 million Social Finance Fund.
During the pandemic, charities have been working hard to meet increasing demands, despite a drop in donors and volunteers. The $755 million Social Finance Fund offers access to new financing — but with the majority of smaller charities unable to take on debt, many remain resource-strapped, despite our population’s growing needs.
The federal government’s $755 million Social Finance Fund is expected to launch sometime this year, and the need for that capital is high. But design matters — and the government has a chance to implement a year’s worth of accelerated learning on the future of social finance.
