52% of social enterprises in the UK have increased their turnovers over the past year, reveals research by the sector’s membership body Social Enterprise UK (SEUK).
Lindsey Hall, CEO of RIO, commented on the findings: “This is fantastic news for social enterprises across the country and bears out our own experience and that of our partners and suppliers. More and more people are recognising that buying from or trading with a social enterprise not only means a great product or service, but added value for communities and individuals. We are particularly proud that social enterprises, ourselves included, are being taken seriously as a significant part of the business community, winning awards and contributing to economic growth. Social enterprise is all about ‘good business’, creating social and environmental impact through successful enterprises and it is great to see more and more people getting involved.”
Initial data from SEUK’s State of Social Enterprise 2015 survey also shows that 39% of the social enterprises analysed have expanded into new geographic areas and 59% have developed new products and services in the last 12 months.
CEO of SEUK Peter Holbrook CBE said: “Social enterprises are transforming the way business is done. What this data shows is that they are continuing to expand, to do good and to change the lives of individuals and communities.”
In total, 1,159 organisations were analysed for the survey, all of which met the requirements of SEUK’s definition of social enterprise as businesses which trade for social and environmental purposes and which reinvest their profits to meet their social mission.
You can read the full story on the Pioneers Post website.