New Business in the UK is Increasingly Social

“The findings are detailed in Fightback Britaina report based on the largest analysis of the social enterprise sector in the UK, supported by the Co-operative Bank.  It reveals that social enterprises, which exist to benefit society and reinvest their profits, are twice as likely as mainstream businesses to have reported growth in the last year. They are also more likely to be led by women, young people, and those from minority ethnic groups.
Research uncovers ‘start-up explosion’ in Britain’s most deprived communities – highlights from the report include:

  • 39% of all social enterprises are based and working in the most deprived communities in the UK, compared to 13% of all SMEs
  • Social enterprises are outstripping mainstream businesses for confidence and twice as likely to have reported growth in the last year
  • Across Britain, 1 in 7 of all social enterprises is a start-up, more than three times the proportion of start-ups in mainstream small businesses (14%, compared to 4%)
  • Some of the biggest social enterprises operating in the UK today are those that started in the recession of the 80s
  • Business Secretary Vince Cable says he wants to create the right environment for social enterprises to grow.

The report also revealed that, “Main source of income for social enterprises is from trading with the general public.

Whilst the main discussions in the policy arena have been focused on social enterprises delivering public services, the research reveals that the most common main source of income for social enterprises is in fact trading with the general public (37%) – double the number of those whose main source of revenue is from trading with the public sector (19%).  Trading with private sector is the primary source of income for 1 in 10 social enterprises (13%).”

Reporting from the the Social Enterprise UK website @: http://www.socialenterprise.org.uk/

Full Report:

http://www.socialenterprise.org.uk/data/files/publications/Fightback_Britain.pdf

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