The social economy programme was formally launched on 18 September 2000. Its key aims are to support the regeneration and quality of life of local disadvantaged areas and to maximise employment opportunities for long-term unemployed and other dis-advantaged persons.
The programme supports the development and operation of social economy enterprises that provide social services and employment opportunities in and for disadvantaged communities. Financial grants and technical supports are provided for the development of social economy businesses for up to three years. This includes grant support for the development of a business plan.
Local working groups have been established by FÁS in consultation with area partnership companies, in the thirty-eight designated disadvantaged areas to draw up an agreed local strategy for the development of the programme. This includes the identification and prioritisation of new and innovative sectors of work activity where social economy enterprises will support the economic and social regeneration of the locality.
The main partners represented on the local working groups include the trade union and employer organisations, area partnership companies, community and voluntary groups, local authorities, health boards, county enterprise boards and farmers' interests. Local working groups have also been set up by FÁS in non-partnership areas.
A national advertisement campaign in regional and local newspapers has been run to promote the programme to community-voluntary groups. A social economy framework document and brochure has been distributed to local FÁS offices. Applications for social economy programme supports are being encouraged at a local level.
The programme is almost at the half way stage in its first full year of operation. Up to January 2001, 119 applications for business plan grant support had been received by FÁS, 23 business plan grant applications had been approved and five social economy enterprises were approved for full grant support.
The national development plan provides for expenditure of £213 million on the social economy programme over the period 2000-06. A sum of £17 million has been allocated to the programme in 2001 and expenditure is forecast to rise to £41 million per annum as the demand for the programme increases.