Potentials for Banks and Financial Institutions in Saxony-Anhalt
The Investitionsbank Sachsen-Anhalt (Development Bank of Saxony-Anhalt) is happy to announce the completion of the second German capacity building seminar. The workshop “Potentials for Banks and Financial Institutions” was held on the 30th of September in form of an online event. Participants discussed the status quo of financial programmes and business support structures in the region of Saxony-Anhalt and analysed how to improve them.
After a composure of participant´s expectations on the workshop, e.g. new financing solutions for impact-oriented businesses, requests of financial institutions on Social Entrepreneurs, exchange on good practices, speakers gave insights to the status-quo of social entrepreneurship in Saxony-Anhalt with references to the outputs of the DelFin project (pilot, toolbox). Open discussions contributed to a common understanding of social entrepreneurship and the relationship between social entrepreneurship and financial solutions. Insights from social entrepreneurs on their way to a financial solution revealed opportunities, challenges and success factors for the financing of social entrepreneurs. Together with representatives from financial institutions, they discussed potential action points for regional financial institutions and business support structures.
The workshop revealed: Social enterprises have a need for coaching and mentoring support to have a clear vision of their business and make it ready for financing. When getting in contact with financial institutions they wish for transparent financial solutions tailored to their special needs. Options for actions might be to include social innovation as a procurement guideline and to use rating systems, which also include social impact. Financial institutions report on a growing interest in social entrepreneurship in the public as it is recognized as a solution to social problems. The dissemination of best practices is one way to become known as a contact point for social enterprises.