Supply Nation today launched a Social Return on Investment (SROI) report
Supply Nation today launched The Sleeping Giant, a Social Return on Investment (SROI) report that assesses the impact its Certified Suppliers have on their community, families, employees and owners.
The report was launched this morning at Randwick City Council’s ‘Indigenous Economic Development Forum,’ a Supply Nation partner event attended by over 100 guests including up to 20 Indigenous businesses and hosted as part of our #SupplierDiversitySeptember activities.
Randwick Council Mayor, Ted Seng, said "small businesses are the backbone of our city's economic development. The work that Supply Nation and the Indigenous Chambers of Commerce are doing is integral to achieving this."
The key findings of the SROI report include:
- For every dollar of revenue, Certified Suppliers create $4.41 of economic and social value
- Smaller Indigenous businesses have higher SROI ratios than larger businesses
- Businesses working directly in Indigenous cultural industries have higher SROI ratios than businesses working in mainstream industries
- Indigenous businesses employ more than thirty times the proportion of Indigenous people than other businesses
- Indigenous owned business strengthen their Indigenous employees connection to culture
- Indigenous businesses provide training to staff
- Indigenous business owners that were part of the stolen generation use their businesses to create a place of belonging and healing
- Indigenous owners, employees and communities are proud of Indigenous businesses
- Owners of Indigenous businesses reinvest revenue in their communities
- Indigenous businesses are a ‘safe place’ for families
Five Certified Suppliers were profiled in the report.
- BNYM Indigenous Designs
- Cole Workwear
- Pacific Services Group Holdings
- Indigenous Success Australia, and
- Global Professional Services International.
These businesses generate pride, independence and financial stability. Owners and employees use these businesses to create positive futures for themselves, their families and communities.
For owners of these businesses, social value is not just an added bonus of running a business, it is built into the fabric of the organisation. Each Certified Supplier owner profiled uses their business as a vehicle to drive change for their family and wider community.
To read the Social Return on Investment report visit: http://www.supplynation.org.au/resources/Social_Return_on_Investment_report