Endorsement system helps social enterprises run business
Share this article
Twenty social enterprises that participated in a trial scheme have been recognised by Hong Kong’s first social enterprise endorsement system which was developed by City University of Hong Kong (CityU).
It is a project entrusted by the Hong Kong General Chamber of Social Enterprises (HKGCSE) to promote the sustainable development of social enterprises and enhance public trust.
Mr John Tsang Chun-wah, Financial Secretary of the Hong Kong SAR Government, Professor Way Kuo, CityU President, Professor Zang Xiaowei, Dean of CityU’s College of Liberal Arts and Social Sciences, Ms Alice Yuk Tak-fun, Chairman of HKGCSE, and Ms Rita Liu, member of the Standard Chartered Hong Kong 150th Anniversary Community Foundation, officiated at the social enterprise endorsement presentation ceremony on 27 November.
Sponsored by the Standard Chartered Hong Kong 150thAnniversary Community Foundation, HKGCSE entrusted CityU's Project Flame to develop the system, according to the mission, business strategy and execution, human resources policy, financial management, corporate governance, and so forth of the social enterprises. The social enterprises will be divided into four categories by size and year of operation.
The endorsement was adapted from the UK and US, and makes reference to the relevant practices of various professional organisations and government departments in Hong Kong and overseas, according to Dr Mark Hayllar, Principal Investigator of the project and Associate Professor in the Department of Public Policy at CityU.