Social enterprises' operating environment will become more difficult amid the financial tsunami, Secretary for Home Affairs Tsang Tak-sing says, adding the Government will bolster support for them.
Speaking at a social enterprise summit today, Mr Tsang said the Government will monitor the overall economic situation and the Enhancing Self-Reliance Through District Partnership Programme's financial position.
It will ensure the grants are adequate in the next few years and will consider allocating more funding to the programme if necessary.
Mentoring service
If the social enterprises supported by the programme may not be able to achieve fiscal balance amid the financial tsunami, the Home Affairs Department will arrange voluntary mentors to assist them in examining their operations and carrying out reforms.
If a practical and feasible improvement plan can be worked out, the Government will consider providing extra financial support for these enterprises.
The department set aside $8 million for 2008-09 to promote social enterprises by launching promotional work in all 18 districts. A booklet will be produced to introduce more social enterprises cases. The information on the social enterprises website and directory will be updated.
Social entrepreneurship
The Government will launch new social-enterprise projects through the matching forum and will commission tertiary institutions to organise a contest to encourage tertiary students to submit business plans to nurture social entrepreneurship.
Eligible social enterprise will continue to receive priority in bidding for Government service contracts next year.
