With a change of leadership in Queensland over the weekend, White Box Enterprises is excited by the opportunity this new government brings for social enterprise and impact investing across the state.
The newly elected LNP’s commitment to create an $80 million fund over the next four years—via a $20 million per year Social Entrepreneurs Fund—represents the most significant investment in social enterprise in Queensland’s history. This promise goes beyond funding, signifying a major shift in how the Queensland government values and supports purpose-driven businesses.
White Box CEO Luke Terry has played a key role in the development of this initiative. As the former CEO of Vanguard Laundry, Luke worked alongside David Janetzki, now the LNP Member for Toowoomba South, to explore ways to create a stronger ecosystem for social enterprises in Queensland. This creation of the Social Entrepreneurs Fund reflects years of conversations and collaboration to bring more visibility and resources to the sector.
The commitment to establish an Office of Social Impact within Treasury also marks a significant milestone, placing social enterprise at the core of state policy and enabling better coordination, support, and growth.
The new government’s election commitments for social enterprise include:
- creating an Office of Social Impact within Treasury;
- seeding a $20 million per year Social Entrepreneurs Fund for social entrepreneurs to access loans and grants; and
- working alongside impact investors, community, faith groups, philanthropists, corporates and social enterprises to co-design a roadmap for social enterprise and impact investing in Queensland.
Speaking ahead of the election in his role as Shadow Treasurer, Minister Janetzki described the Social Entrepreneurs Fund as a “gamechanger” for Queensland businesses who exist to make their communities better.
“Social enterprises are businesses that live a purpose beyond profit and can help governments tackle societal challenges including youth unemployment, offender programs, homelessness, foster care and domestic violence,” he said.
Pictured above: (L to R) David Janetzki, LNP Member for Toowoomba South and former QLD Shadow Treasurer, Luke Terry, Cr Penny Wolff, Mel Sass, Sally McGeoch, Mark Daniels, Keith Rovers in Brisbane, at White Box's five year anniversary.
“The LNP will help these start-ups and businesses do what they do best – help fellow Queenslanders.”
Luke said it was a defining moment for the sector.
“This fund could set a new benchmark for social enterprise support, not just in Queensland but nationally,” he said.
“It’s an extraordinary opportunity to elevate the sector, welcome new players, and build a thriving social economy that delivers lasting impact.”
“We look forward to seeing it come to fruition.”
We’ll continue to bring your updates on all-things social enterprise. We also encourage you subscribe to QSEC’s newsletter, as they’ll share further updates on the progress of the fund.