Social enterprises have the business development through capacity grow – in terms of scalability, profitability, and most importantly, social impact.
Success of Social Enterprises in the UK
A recent BBC article has backed this up, entitled “Social enterprises ‘growing strongly’.”
Turnover at 100 of the largest such firms grew an average 79% in the year to March, said the study by business information service Social Enterprise.
The report, conducted with Royal Bank of Scotland, said firms in south-east England saw the biggest growth, up 56%.
The East Midlands was the worst performing, with growth of only 15%.
This average growth of 79% for the top 100 UK social enterprises is astounding.
The article points to ‘social enterprise’ as including companies such as the Big Issue, Jamie Oliver’s restaurant Fifteen, and the fair-trade chocolate company Divine Chocolate.
Greater Confidence in Social Enterprise
This shows that business practices can be conducted in a socially responsible without hindering too much on the growth and profitability of a social firm.
Moreover, this study adds greater confidence in the social enterprise sector worldwide, as well as positively influencing the view of private finance towards social enterprise and their choice of business development.
Overall, I’m personally amazed by the growth.
Social enterprise is viable.