Arts, heritage and sport enrich all our lives, enhance health and wellbeing, and strengthen community links.
It is therefore important that they are available, accessible and affordable to all - regardless of circumstances or background. Moreover, innovative interventions using arts and sports can also tackle specific social issues and help people transform their lives and regain confidence.
A reduction in government funding for culture and recreation is driving a need for innovation in business models and has led to an increasing focus on evidencing the social impact of arts, heritage and sport.
How social investment can help arts, heritage and sports organisations
- To support organisations that are developing new revenue streams, in order to grow or to diversify funding sources.
- To help finance transfers of public services and assets such as libraries and leisure centres to the community. There is an opportunity to make greater use of community shares to fund transfers of local facilities to the community, or establish new community based facilities, such as Hastings Pier.
- To provide working capital so arts and sports organisations can win and deliver public contracts from new commissioners, based on the strong social impact they can achieve. This could involve social prescribing, which is being used by Ways to Wellness to improve quality of life for people with long term health conditions.