This report aims to increase understanding of the finance needs of health and social care spin-out social enterprises, in order to prompt the development of appropriate investment solutions to meet those needs.
At Big Society Capital we’ve just published our first ever annual report. The report details what Big Society Capital has done in terms of making wholesale investments, encouraging others to invest alongside us and championing the social investment market more generally.
Big Society Capital and the City of London Corporation have invested £5m and £500,000 respectively into a social impact investment fund targeting the purchase of about 240 Greater London properties that will be available for homeless people to rent.
Big Society Capital (BSC), the world's first social investment bank, has begun the process of searching for a new Chair. Sir Ronald Cohen made it clear that he would be the first Chair to help set up Big Society Capital and that he intended to step down from the role to be a director once Big Society Capital had become fully operational. This phase of the development of the organisation will be completed by the end of 2013.
Charities and social enterprises play a vital role in the justice sector through their commitment to reducing reoffending and improving communities. Big Society Capital (BSC) believes the forthcoming reforms to probation services could present a significant opportunity for social sector organisations (SSOs) to do even more in rehabilitating offenders and reducing reoffending.
Today is an important day in the development of the social investment market. The announcement by the Chancellor in his Budget today that he will introduce tax incentives for social investment will be pivotal in encouraging greater numbers of individuals to provide funding to social sector organisations. This investment can help social sector organisations to grow and make a big difference to a large number of society’s most vulnerable. Until now, the lack of appropriate tax incentive has been a barrier to unlocking the potential of these individuals to support social investment.
Big Society Capital (BSC), the world's first social investment bank, today welcomes the commitment made by the Chancellor, the Rt Hon George Osborne MP, to confirm a new tax relief by the Autumn Statement this year. Big Society Capital looks forward to contributing to the coming consultation on the nature and scope of tax incentives, following on from the recent report it commissioned with the City of London Corporation on the role of tax incentives in encouraging social investment.
Should social sector organisations be treated differently to small businesses when it comes to raising much needed investment? Well, that’s how they are currently treated by the tax system. Existing tax incentive schemes, such as the Enterprise Investment Scheme and Venture Capital Trust scheme, have a good track record of encouraging investment in small growing businesses. But these remain by and large unavailable to investments in social sector organisations. Without resorting to the detail, this is because existing reliefs require investments in equity that large numbers of social sector organisations simply do not have. Even more confusing is that tax relief exists for donations to these organisations – but investments are left out. Given the increasing role that social sector organisations are playing in public services, the lack of tax incentive does not make sense.
Extending existing tax reliefs to encompass social investment could generate up to £480m of new investment for the sector over the next five years, according to new research commissioned by the City of London Corporation and Big Society Capital.
This is a brief handbook explains the basics of social investment, including what social investment is, the social investment market, types of social investment products, investor concerns and the UK’s expertise in social investment
Big Society Capital (BSC) believes the forthcoming reforms to probation services could present a significant opportunity for social sector organisations (SSOs). The reforms are titled Transforming Rehabilitation, and that is just what most SSOs in the justice sector seek to do, and in many cases have a strong track record of achieving. We note and welcome the Ministry of Justice’s (MoJ) commitment to SSOs in their consultation document1 . We ourselves stand ready to help the social investment market play its part in the reforms, improving justice SSO’s access to appropriate capital.
Tomorrow, at an event hosted by Deutsche Bank, Big Society Capital will be launching the first stage of the Evidencing Social Value project that we have been co-ordinating with the collaboration of prominent social investors and expert groups who have been working in this area for some time.
Since it opened in April, Big Society Capital (BSC) has committed £56 million to 20 separate organisations. We have made cornerstone investments in a series of Social Enterprise funds managed by new and existing intermediaries. We have committed to six newly created Social Impact Bonds to fund charities to provide innovative interventions across a range of social issues in a diverse set of locations around the UK.