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Social enterprises (SEs) are businesses which fulfill social causes. They use business principles and methods to achieve social change. Social enterprises are not charities, but are revenue-generating businesses.
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Social enterprises may provide skills training and/or employment opportunities to the needy disadvantaged (i.e. those who have higher than usual barriers to employment, such as ex-offenders, disadvantaged women, persons with psychiatric conditions etc) as a means to reintegrate them into society and encourage them to be self-reliant. They give an opportunity to people who may have difficulty finding employment on the open market.
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ComCare Enterprise Fund (CEF) |
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CEF supports social enterprises that help disadvantaged Singaporeans become self-reliant with a grant of up to S$300,000.
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| For what? |
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- To provide seed funding to social enterprise start-ups that provide employment and training opportunities to disadvantaged Singapore Citizens, who could be
- ex-offenders
- older, less educated
- recovering from psychiatric illnesses
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Approved social enterprises can get up to 80% of the total project cost, subject to a maximum of S$300,000.
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| For who? |
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- Businesses with clear social missions to help needy disadvantaged Singaporeans move towards self reliance.
- Eligible businesses and organisations are those registered with the Accounting & Corporate Regulatory Authority (ACRA) or the Registrar of Societies.
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| What to note? |
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A social enterprise which seek funding must have the following:
- compelling Social Objective(s)
- a viable Business Proposition
- a committed Team
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Your social enterprise should be able to sustain itself from the business revenues that it generates. It should not rely on donations or other social programmes for continuous funding.
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The social objective(s) should be aimed at helping disadvantaged Singaporeans become self-reliant through providing them with employment or training them for employment.
- CEF does not fund start-ups with arts, cultural, health or environmental objectives.
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| Facts & Figures |
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- CEF has funded 66 social enterprises since 2003.
(Source: Ministry of Community Development, Youth and Sports, September 2007.)
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CEF funding has supported a wide range of social enterprises including:
- food caterers and cafés
- specialised education providers
- apparel and handicraft makers
- beauty and spa service providers
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retailers
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A Step-by-Step Guide to Applying For ComCare Enterprise Fund (CEF) |
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| Before you apply |
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| Applying for CEF |
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| Preliminary Assessment |
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- Submit your business plan using the template provided to comcare@mcys.gov.sg.
The CEF Secretariat will assess if your social enterprise qualifies for funding. If it qualifies, proceed to the next steps.
- Refine your CEF business proposal if necessary.
The CEF Secretariat will guide you through the process.
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| CEF Panel Evaluation |
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- Submit your final CEF business proposal to the CEF Secretariat.
Your proposal will be submitted to the CEF Evaluation Panel for evaluation.
- Make a presentation of your business proposal to the CEF Evaluation Panel if requested to do so.
The CEF Secretariat will inform you if you are required to make a presentation and the date of the presentation.
- Await the decision of the CEF Evaluation Panel.The CEF Secretariat will inform you of the outcome in 3 working days.
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| Upon Successful Application |
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- Register your social enterprise with ACRA or the Registrar of Societies if you have not already done so.
- Prepare legal documents as directed by the CEF Secretariat. E.g. lease agreement, partnership agreement, inter-bank GIRO form, etc.
- Sign the contract with the CEF Secretariat. The funds will be disbursed to your social enterprise according to the terms of the contract.
- Start your social enterprise operations. Receive CEF funding according to the contractual terms.
- Keep proper financial records. E.g. expenses, invoices, receipts relating to the project.
- Keep proper operational records. E.g. employment records, training records, deliverables, progress reports, evaluation reports.
- Submit quarterly progress reports and annual audited financial statements.
- Keep the CEF Secretariat informed of any changes to your social enterprise business model.
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