Finance and Funding
Financial sustainability, or having consistent funding, is often a challenge for WISEs. Understanding WISE cost structure and having a commercially competitive (high quality, fair price) offering is vital to sustainability. Long-term grant funding, multi-year contracts, and/or repeat customers can support success. Choosing the right industry, and balancing social and business goals, is vital for financial sustainability. A key WISE financial challenge is balancing client demand, growing/scaling, and, at the same time, transitioning skilled individuals into Hybrid/Open Employment.
Social Good and Financial Benefit
Disability Enterprises are driven by a social purpose that may be shared by other customers, funders, and stakeholders. Disability Enterprises may be selected by other organizations and local businesses to assist with their needs, based on this social purpose and/or their related status as a for-purpose or social enterprise.
Can be a draw card for customers and business partners to select the WISE as the supplier of goods and services.
Diverse Business Offerings
Running multiple businesses or enterprises in key industries can help to secure relationships, jobs, and contacts with a range of partners. This diversification can support overall financial sustainability, particularly if one business is operating in a financially precarious industry.
Funding the Individual Employment Pathway
NDIS funding makes it possible for individuals to enter a WISE (and Open Employment) and develop skills at their own pace.
Can be a draw card for customers and business partners
Can be used to fund employment support activities both within the Disability Enterprise and along the Pathway to Employment. Individuals can use their NDIS funding in Open and Hybrid Employment arrangements. Funding for Hybrid and Open Employment is challenging and requires careful planning to ensure individuals transition in a sustainable way. Individuals often do not have an appropriate rate of funding to attain their employment goals.
Individuals do not always have adequate funding in their plans for the support they require. In this case, a plan review can be requested. Adequate funding significantly contributes to adequate supports that can be provided in Open Employment settings.
Use of NDIS funding for supports is limited by the line items that are included in individual plans. Your plan may include line items, including Core Supports and Capacity Building. Disability organisations can use funding flexibly; for instance, if an individual does not have Employment Supports under Finding and Keeping a Job, individuals may have funding in other areas like Increased Social and Community Participation (Capacity Building) or Assistance with Social & Community Participation.
DES can be used to fill support gaps in the employment pathway.
