Public servants who form ‘John Lewis style’ mutuals to take control of their services need better access to external finance if they are to transform public services, a report published today argues.
The Boston Consulting Group report, ‘Soft Finance, Hard Choices’, analysed the performance of 71 mutuals, which currently deliver £1.2billion of public services, as well as 15 mutual projects in development. It found clear evidence that mutuals are improving service quality and driving innovation. It also showed that they are performing well as businesses with the 62 mutuals launched since 2010 generating substantial growth and creating as many as 3,000 new jobs.
Strength and diversity are key to our vision for the social investment market. A new report released today co-commissioned by Big Society Capital provides evidence that although we are one step closer to reaching this vision, there are still some challenges ahead.
The UK social investment market grew by up to a quarter to £202 million per annum in 2011- 12 through an estimated 765 deals, according to a new report published today (3rd July).
Growing the Social Investment Market: The Landscape and Economic Impact, authored by ICF GHK in association with BMG Research, has been jointly commissioned by Big Lottery Fund, Big Society Capital, City of London Corporation and Her Majesty’s Government. The research finds that over the lifetime of their finance period, these 765 social investments resulted in the creation or safeguarding of 340 UK social ventures, 6,870 UK FTE jobs and £58 million in GVA contribution to the UK economy in gross terms.
A new report from The Young Foundation, supported by the Private Equity Foundation and Big Society Capital, says the £2.5 billion a year pupil premium is not being used effectively to raise the educational performance of the UK’s poorest pupils – and calls for social investment to be used to develop and deliver programmes with greater impact.
This week, in the lead up to the GB Summit in Enniskillen, Prime Minister Cameron will convene key global leaders from government, civil society, and the private sector to evaluate the potential and practicalities of using "social impact investing" to tackle significant globalchallenges. We urge the world to take notice of this positive development.
At the world’s first G8 conference on social impact investing Prime Minister David Cameron today reinforced the UK’s commitment and leadership in growing the global social investment market, which already creates jobs and growth in the economy and tackles entrenched social problems whilst saving money for the taxpayer.
- UK hosts inaugural G8 conference on social impact investing
- Prime Minister announces £250m to help communities purchase local assets
- London Stock Exchange backs the world’s first Social Stock Exchange
We have just updated and published BSC’s investment policy and launched a “Social Impact Tests and Thresholds Assessment” document. Together, the documents should clarify our three investment objectives of social impact, contribution to market development and a financial return. The investment policy document also sets out some of our key investment conditions and outlines our investment process.
The educational attainment gap is one of the UK’s most pervasive problems. In spite of improved general educational attainment over the last decade, the number of young people, particularly those from socially deprived backgrounds, leaving secondary school without any qualifications or unprepared for the world of work has increased.
This paper revisits the question of whether the current social finance model fits the needs of community-based social enterprises, examining the question from the perspective of an experienced finance professional.
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.