We were honoured to have Minister for Employment Vicki Ward officially launch the expansion of The Purpose Precinct, almost a year after its String Bean alley launch.
Co-developed by leading Victorian social enterprises Good Cycles and STREAT and supported by the Social Enterprise Network of Victoria – the precinct recently moved from its temporary home in Stringbean Alley to multiple spaces within the F Shed Laneway, at QVM.
The socially-conscious shopping destination will bring more visitors to the market and create 75 local jobs – including for Victorians that have faced challenges finding a job.
As the festive season approaches Purpose Precinct will give shoppers an option to buy gifts from socially-conscious and purpose-led businesses like Clothing The Gaps, Homie, Mildura Chocolate Company, Green Collect, Free to Feed and more.
Social enterprises are defined as businesses that channel at least 50% of their profits into achieving their mission – whether that’s tackling social problems, improving communities, providing people with access to employment and training, or helping the environment.
Good Cycles is responsible for employing Purpose Precinct’s retail staff with a focus on helping young people break through barriers to employment via its Youth Employment Program. As our CEO Jaison Hoenel describes it as, “a registered charity all our profits are directed towards impact, but as a social enterprise and through the Purpose Precinct we can demonstrate how to create meaningful jobs and a safe space for their employees.”
And staff members like Vaughn would agree, he loves how social enterprises are “focused on the human side of business.” Vaughn simply loves having conversations with shoppers and sharing the stories that shape the range of impact driven products on sale.
The Purpose Precinct has a strong focus on impact and sustainability with many products made from recycled or repurposed goods and materials. The Precinct is funded through the Labor Government’s nation-leading Social Enterprise Strategy 2021-25 and the Melbourne City Revitalisation Fund.
There are currently more than 3,500 social enterprises trading across metropolitan Melbourne and regional Victoria, which employ an estimated 60,000 people and contribute $5.2 billion annually to the Victorian economy.
Take part in the conversation and learn about the future of retail.
Visit the Purpose Precinct at F Shed in Queen Victoria Market.