5. Mr Kelly asked the Minister for the Economy for an update on the work of the social enterprise co-design group. (AQO 933/22-27)

I met the social enterprise co-design group recently to receive an update on its progress. The group’s initial focus is on strengthening the commercial base of social enterprises. Early recommendations include appointing champions in Invest NI, InterTradeIreland and local councils; building stronger leadership skills for social entrepreneurs and their board members; and better use of procurement frameworks. The initial action plan is being finalised, and I hope to publish it in the coming weeks.

Gabhaim buíochas leis an Aire as a ráiteas.

[Translation: I thank the Minister for his answer.]

How will the work of the co-design group progress the recommendations in the independent report on community wealth building?

The independent report on community wealth building recommended a strategy for the sector. The action plan will tackle the strategic issues that face the sector. By taking a more flexible approach, there will be a quicker impact on the ground for the sector as it seeks to grow and expand sustainable social businesses in the North.

In the three-year action plan for your Department, Minister, you indicated that you would launch the social enterprise action plan and three-year work plan in September 2024. Can you give me an update as to where that is, as we are now in October?

As I said, the co-design group has been working on that. As the Member will remember, one of the first initiatives that I took when I came into office was to up the funding to social enterprise and give it a higher profile in its contribution to the economy. We are developing an action plan; the social enterprise co-design group is working on that. I have met the group in recent times to hear from it. I expect to have that action plan delivered to me very soon. I will publish that and share it with the Committee in due course.

Minister, social enterprises and the broader social and economic community have an important role to play in regenerating our communities, particularly in building social capital. Will you update the House on your review of the scoring of social-value policy?

As the Member will know, I introduced that when I was Minister of Finance. It sits at 10%, with the intent to move it to 20% in due course. From conversations with the current Minister of Finance, I understand that she is looking very closely at that. We want to ensure that the sector is ready to engage with that increase in business opportunities. Bodies such as the social enterprise co-design group are looking at strengthening the commercial side of social enterprises — their boards and leadership — so that they are much fitter to engage with the opportunities that will arise from a higher level of social value and procurement. I am sure that the Minister of Finance will be able to give the Member a time frame for that. I know that she is looking at it very seriously.