Prepared for Deleted 5. | Delivered October 8, 2020
COVID-19: Impact on For-Profit Social Enterprises
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To provide trends surrounding how for-profit social enterprises (including a focus on startups) have been affected by COVID-19.
This research will help with understanding how social enterprises are effected by COVID and the resulting economy.
Trend #1: Available Funding Options Due to the COVID-19 Pandemic
There has been an increase in funding for for-profit social enterprises during the COVID-19 pandemic. Since these social enterprises are geared towards helping communities and creating positive social impacts, there has been a need to keep financing them through the crisis, especially now that there are
more people in need
of their assistance.
Kitchener Waterloo Community Foundation
in Waterloo, Ontario is offering eligible for-profit foundations that are working to do more good in the region the opportunity to get non-repayable capital through the Investment Readiness Program. This is a national initiative that is led by Community Foundations of Canada, funded by the Government of Canada, and will provide
across the country to grow social enterprises. The program is open to various organizations including for-profit social enterprises and can provide
$10,000 to $50,000 in capital
to measure, design, plan, and scale the organizations.
Several governments like the Canadian government have
to social enterprises, including for-profit ones. The
federal government's support
for businesses during COVID-19 in Canada has extended to social enterprises.
The COVID Response Alliance for Social Entrepreneurs started an initiative featuring "
", which is a new resource that was developed by the Center for the Advancement of Social Entrepreneurship at Duke University.
dashboard is a searchable database for emergency funds that are available to for-profit entrepreneurs during COVID-19. It contains global capital relief worth more than
In India, the Omidyar Network committed
towards initiatives that focus on the "
next half billion"
. Through this funding, for-profit social enterprises can
apply for grants
for their projects.