By Helen Mooney
19 November 2009
Social enterprises are weathering the recession far better than similar small to medium size businesses, according to the results of a survey by the Social Enterprise Coalition.
The report, State of social enterprise, published on November 19, found that 56% of social enterprises have managed to increase their turnover in the past year, compared with only 28% of SMEs.
The results also showed that social enterprises were twice as confident of future growth as SMEs. Social enterprises are defined as businesses run for social and environmental purposes. There are 62,000 social enterprises in the UK contributing £24bn to the UK economy.
More than a quarter of social enterprises are led by women, almost twice as many compared to small businesses, according to the report.
Jonathan Bland, chief executive of the Social Enterprise Coalition said: ‘Some results were unexpectedly powerful, such as learning that social enterprises are doing well overall despite tough economic times. That was very heartening, as this is an incredibly tough climate for all businesses.
‘I believe this shows that business models that are built to be sustainable and accountable to a wide variety of stakeholders are often better able to withstand economic uncertainty. Additionally, it is evidence of a shift towards more people engaging with businesses whose bottom line includes social and environmental benefit.’
Angela Smith, minister for the third sector said: ‘Social enterprises have a key role in society, they contribute to the economy like any other business while at the same time bringing together and empowering communities. We have invested well over £100m in promoting social enterprise.’
19 November 2009
Social enterprises are weathering the recession far better than similar small to medium size businesses, according to the results of a survey by the Social Enterprise Coalition.
The report, State of social enterprise, published on November 19, found that 56% of social enterprises have managed to increase their turnover in the past year, compared with only 28% of SMEs.
The results also showed that social enterprises were twice as confident of future growth as SMEs. Social enterprises are defined as businesses run for social and environmental purposes. There are 62,000 social enterprises in the UK contributing £24bn to the UK economy.
More than a quarter of social enterprises are led by women, almost twice as many compared to small businesses, according to the report.
Jonathan Bland, chief executive of the Social Enterprise Coalition said: ‘Some results were unexpectedly powerful, such as learning that social enterprises are doing well overall despite tough economic times. That was very heartening, as this is an incredibly tough climate for all businesses.
‘I believe this shows that business models that are built to be sustainable and accountable to a wide variety of stakeholders are often better able to withstand economic uncertainty. Additionally, it is evidence of a shift towards more people engaging with businesses whose bottom line includes social and environmental benefit.’
Angela Smith, minister for the third sector said: ‘Social enterprises have a key role in society, they contribute to the economy like any other business while at the same time bringing together and empowering communities. We have invested well over £100m in promoting social enterprise.’
