REVIEW OF AKINA”S SOCIAL INVESTMENT WHITE PAPER

We were really interested to read Akina’s white paper:? Developing a Successful Social Investment Approach particularly the contributions of Jonathon Boston and Jaimie Newth two experts across the social investment space.??

The needs of the social enterprise sector have evolved, with an increasing emphasis on measuring and achieving tangible social and environmental outcomes. By shifting its focus to impact, ākina may be better able support organisations and aspiring social enterprises to demonstrate their effectiveness and scale their positive contributions to increase not just?impact but also commercial sustainability. As always, we remain hopeful.??

The white paper makes three key recommendations, to which we take this opportunity to contribute additional insights and experiences, with the hope of advancing the conversation initiated by ākina.

With over six years of dedicated focus on economic development for Māori and Pacific SMEs, our organization brings valuable perspectives to the table. We are committed to advancing this dialogue and welcome opportunities for collaboration with ākina and others. Our door is always open for further exploration and partnership as it’s only through collaboration that we will be able to drive? truly impactful change.??

Involve Community??

It is true that in order for any social investment approach to succeed the voices and experience of the community must be included. However, it is perhaps as crucial to ensure that the community understands systemic and budgetary constraints of social investment before being offered the opportunity to share their stories and design solutions. By providing a clear understanding of these limitations from the outset, we can manage expectations and foster realistic and actionable plans. Transparency around limitations helps prevent frustration and disillusionment when proposed solutions are not fully implemented due to funding or system challenges. It also encourages the development of innovative and feasible approaches within the given constraints, ensuring that the community’s efforts are directed towards achieving meaningful and sustainable impact. So, for us it is critical that this is?not just about the voice of the community but includes transparency around the process together with the?required level of investment for successful implementation. In this way, communities won’t bare the adverse impacts of unrealistic expectations on the social return on investment. ?

Partnerships?

Governments need to drive partnerships with external funding sources and recipients for social investments to ensure stability, legitimacy, and scalability. They can allocate significant resources, create supportive policies, and provide long-term commitment, attracting more external funders. Crucially, government involvement ensures coordinated efforts, aligning initiatives with national priorities and maximizing overall impact. This coordination streamlines processes, reduces bureaucracy, and ensures efficient resource allocation, avoiding delays and inefficiencies. It also lends credibility, increases public trust, and mitigates risks. By taking the lead to secure social investment ?partnerships, governments can accelerate the implementation of impactful social projects, whereas leaving this responsibility to social impact creators alone often slows progress due to limited resources and fragmented efforts. It may also lead to unnecessary layers of complexity that are difficult to navigate for those who are at the coal-face delivering or implementing a particular approach or initiative.

Apolitical (Non partisan) Long-term Approaches?

We at Oyster Workshop are a good example of where this recommendation is vital. Our current reality would be characterised as a short-term approach. This hinders growth and impedes what could be speedy progress towards our sustainable eco-system goals.??

Our system, designed to empower underserved indigenous communities through continuous mentorship and an e-commerce platform/marketplace, has been hampered by a changed political climate which has resulted in a significantly reduced?funding landscape and therefore necessitated a shift in approach. This disruption has impeded our ability to implement the next stage of development for the?marketplace, which is crucial for moving towards our ultimate goal of a self-sustaining ecosystem.

The current focus on short-term approaches to social investment is particularly detrimental, as it undermines the continuity and stability which is essential to deliver long-term success and demonstrate the true social return on investment, which can only be achieved in a meaningful way over an extended period. These short-term funding models not only disrupt progress but also diminish the potential return on earlier investments by government. Early stage investments lose value without the sustained support needed to realize the full impact of the initiative, resulting in a waste of resources and missed opportunities for substantial social and economic benefits. Consistent, long-term investment is essential for building a resilient, independent community that can thrive without perpetual external funding.?

The energy and resources devoted to writing funding proposals and continually championing?our social investment opportunity significantly depletes the impact of our initiative. These efforts divert valuable time and attention away from directly supporting the underserved indigenous businesses we aim to empower. Instead of focusing on mentorship, platform development, and community building, we are often mired in administrative tasks to secure short-term funding. This inefficiency hampers our progress and reduces the overall effectiveness of our project. Unfortunately, many funders do not consider the substantial drain these activities place on our limited resources, exacerbating the challenge. Addressing this issue requires a shift towards more consistent and long-term funding models, allowing us to channel our efforts directly into creating meaningful and lasting social and economic benefits for the community.?

The framework for success is already evident; what is needed now is decisive action and implementation to achieve quick wins and demonstrate tangible impact. Moving beyond theoretical recommendations to concrete actions will highlight the transformative potential of well-executed social investment strategies.?

Surely, irrespective of what and where political affiliations might lie and be, it’s possible to arrive at non partisan consensus around investing in approaches which advance equity for marginalised groups. As indicated in the white paper, this then means that?long-term social investment and?realising the full potential of the social return on investment?is achievable beyond the constraints of a 3 year election cycle. Then at least we may have a chance of taking social investment approaches from the theoretical into the material.