Three interesting articles today. The charity sector keen to make a move to more commercial bases which must surely be a plus for the entire sector in an era when government is broadly broke. Meanwhile Essex identifies a possible 10 million Pound saving which is marvellous while the Canadians are studying the SIB process intently…
Nine in ten charities would like to increase their income from business activity in the next three years, according to a new study. Of the 102 charities surveyed, an overwhelming majority were keen to increase trading and government contracts, indicating a desire within the voluntary sector to move away from grant-funding towards a social enterprise approach. However, 74% of charities don’t believe enough support is available to charities wanting to make the transition to trading income.
The research, conducted by Social Enterprise UK (SEUK), showed that 52% of charities were ‘excited’ about social enterprise and 27% wanted to know more. Only 12% said they were ‘confused’ by social enterprise and just 7% said they were ‘nervous’ about the idea – findings that SEUK described as ‘overwhelmingly positive’.
“Social impact bonds are a significant change in how we think about funding the public and social sector, a significant change in how we think about taking care of each other, a significant change in how we think about the intersections between social, public and private sectors,” said Mark Hlady this past Tuesday.
Mark Hlady, president and founder of Finance for Good, presented social impact bonds (SIBs) at the Community Capital Network event on May 21. Finance for Good is the first – and only – built for purpose SIB intermediary in Canada. Mark believes society is on the verge of a revolution in social service delivery, and that the current publically-funded system is unable to lead the revolution on its own.
A project launched last month in Essex aims to transform the lives of 380 troubled adolescents and their families by keeping them out of trouble, in school and out of care. In the process, Essex County Council hopes that, in the first five years, it will save more than £10 million in spending on these at-risk youths by keeping many of them out of the costly care system.
A new programme targets adolescents aged 11 to 16 who are ‘on the “doorstep of care” because of their challenging anti-social behaviour, early offending, or serious problems at home or school’, said Roger Bullen, head of partnership for the Essex Schools, Children and Families Directorate.