Last week saw the relaunch of Key Fund – a social investment intermediary originally based in Yorkshire – offering loans and grant/loan packages to help community and social enterprises start-up, grow and/or become more sustainable.
On 11 October, the Social Investment and Finance team in the Office for Civil Society changed its name and ambition. Now it will be the Government Inclusive Economy Unit with a remit to innovate and contribute to the broader agenda of an economy that works for all.
Being poor is not just about being unable to afford those ‘nice to have’ things - it’s being forced to pay more for the absolute essentials, such as gas, electricity, banking, household goods and even groceries simply because you are living in poverty. It’s called the ‘poverty premium’ and it is effectively a tax on the poor.
The phrase ‘knowledge is power’ is more relevant now than ever in our high tech, fast-moving and often digitally overloaded world, so it’s interesting the saying is widely attributed to Sir Francis Bacon and dates back to around 1597.
If you live in poverty in this country, you’re more unlikely to have a bank account. And if you don’t have a bank account, you can’t get a direct debit discount for many of your everyday services and utilities. Is that fair? We don’t think so.
The Commissioning Better Outcomes Fund evaluation is following 10 SIBs part-funded by the fund over their lifetime. One of them is the Worcestershire Reconnections SIB and the first report about the SIB was launched last week.
Today is the launch of GET INFORMED – a campaign to help charity and social enterprise boards understand the opportunities and risks of social investment. As part of the launch, we hear from one of our “Faces” – board members who have used or considered social investment – on why boards should GET INFORMED.
Today we publish our deal level data up to June 2016, including Big Society Capital’s deals as well as social investment deals made by other investors and arranged by intermediaries which did not receive our investment.
How will the Charities (Protection and Social Investment) Act 2016 affect charities wanting to make social investments? Our Financial Relationships Director, Evita Zanuso, discusses in Charity Financials magazine.
A recent report from RBS indicated that UK banks are lending over £3bn to social organisations. In Civil Society, our Head of Social Sector Engagement, Geetha Rabindrakumar, discusses how social investment aims to fill those gaps not met by mainstream lending.
Australia’s first social impact bonds were launched in New South Wales in 2013, making them some of the earliest SIBs in the world. Three years on, Jill Carman from Aleron takes a look back at lessons from Australia and comparisons to the UK market.