A Social Economy for a Shared Island: Executive Summary

Ireland is currently facing several pressing social justice challenges that is highlighted in the "Social Economy for a Shared Island" report by Development Trusts Northern Ireland (DTNI). The report offers valuable insights for Philanthropy Ireland members as it delves into these issues and provides guidance on how funders can effectively support initiatives that promote social economy. 

Key Social Justice Issues in Ireland: 

1. Grant support lacks scale and coordination: To realise the social economy’s potential, Irish funders must provide long-term, flexible capital and revenue funding that reflects the sector’s complexity. Support is needed at every stage, with tailored approaches for different sectors. Short-term grants and uncompetitive finance limit growth—patient, strategic investment is key to sustainable impact. 

   
   

2. Weak Regulatory Environment: Unlike Britain, where strong legal tools like Community Asset Transfer and Social Value legislation support social enterprises, Ireland lacks similar frameworks. This gap presents a key opportunity for Irish funders to invest strategically in social value-driven organisations, helping build inclusive, community-led economies through targeted support and infrastructure development. 

   
   

3. Capacity Building Support: Capacity building is a critical need for the future of social enterprises. Projects like SocialB—an Ireland-led collaboration with European partners—have outlined strong support frameworks, yet remain underdeveloped. Irish funders have a key opportunity to invest in skills, training, and knowledge-sharing to strengthen the sector’s long-term sustainability and impact. 

   
   

Guidance for Funders: 

To effectively support emerging social justice issues while remaining aligned with their missions, funders can consider the following approaches: 

1. A shared approach to skills and knowledge: The foundations for a shared island social economy are largely in place, but greater collaboration and knowledge exchange could enhance impact. DTNI and Carmichael have championed community wealth building, promoting local ownership of assets, work, and finance. There are key opportunities to co-develop legal frameworks—such as Disposal Consent—within respective jurisdictions, drawing on international best practice. Exploring reforms like Community Land Trusts, Community Interest Companies, and CIOs could align North-South models. Scalable initiatives such as social franchising, public-social partnerships, and community investment tools also hold promise. A coordinated approach to Social Value legislation and cross-border procurement could further unify and strengthen the sector. 

   
   

2. Shared horizon scanning: Ireland already has strong North-South innovations to build on. Joint research and evaluation can support social enterprises in tackling shared challenges—like ageing populations, climate action, digital transformation, and coastal development. Strengthening community anchors and upskilling the sector will be key to driving inclusive regeneration and sustainable, place-based growth island-wide. 

   
   

3. Network power: The social economy must be central to transformative change across Ireland, not sidelined as a marginal sector. It offers real alternatives for those excluded from mainstream economic development. This Shared Island Fund project highlights the value of cross-sector collaboration, civic leadership, and building networks for inclusive, all-island regeneration. 

   
   

Role of Philanthropy in Supporting Social Enterprise: 

Philanthropy plays a unique and vital role in advancing social justice, distinct from government funding: 

1. Create an All-Island Community Ownership Fund: Secure sustained funding from public, philanthropic, and EU sources to enable community asset acquisition. Develop a dedicated financing mechanism to support cross-border community ownership initiatives, ensuring communities across the island can access and manage shared resources, strengthen local economies, and drive inclusive, long-term regeneration at a regional level.

   
   

2. Develop Long-Term & Scalable Funding Models: Create an all-island social investment fund dedicated to scaling social enterprises. This fund should offer a blended finance approach—combining grants, loans, and equity—to meet diverse needs across the sector. Such support will enable growth, innovation, and long-term sustainability for social enterprises North and South. 

   
   

3. Strengthen Cross Border Collaboration & Best Practice Exchange: Strengthen cross-border enterprise collaboration by expanding joint procurement initiatives that open new markets and drive shared value. Leverage the €40 million Change Maker Fund to support innovative community projects across the island, fostering inclusive economic development, deeper partnerships, and more resilient social enterprises operating at an all-island scale. 

Read full report here!